Home Opinion Makinde N100 Billion Prosperity Bond And The Opposition’s Innuedos | Abolade Olosun

Makinde N100 Billion Prosperity Bond And The Opposition’s Innuedos | Abolade Olosun



Whenever the enemies of progress start their campaign of calumny, any non-discerning member of the public including politicians will think they are doing them favor, unsuspecting that it was all about partisanship and for people to feel their pulse that they are still breathing. In this light, every other discerning heads should come out and feed the public with advantages, benefits and merit of what they saw as bad venture.

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It wasn’t surprised, the foul cry that enveloped the atmosphere from the opposition’s camp when Gov Seyi Makinde announced prosperity bond of N100 billion for Oyo infrastructural developments.

Instead of them looking at the factors that caused it, purpose of the loan and the merits that will be accrued from the program, they only considered inundating the public sphere with toxic innuendos.

They started considering and comparing the last administration that took N150 billion loan throughout its eight year tenure and they deliberately refused to tell the public that the administration first term enjoyed good amount of federal government monthly allocation . The crude oil was $110 per barrel in 2011 with lots of oil windfalls that they got. That made them not in need of loans initially. It made it possible for them to do the bulk of their projects during the first phase of the administration before they resorted to loans at later days of recession that Buhari wrong monetary policy caused . It also made them not to think of upgrading Oyo IGR, slightly above one billion monthly, throughout the span. Late Ajimobi was not even able to pay salary not to talk of developmental projects. They solely relied on loans and FG bail out. If not for the expiration of his tenure and proactive move of Governor elect Engr. Seyi Makinde
that stopped the last N10 billion loan he got approved, only God knows the gigantic loan figure that we will be talking about now.

Now that the effects of Buhari’s caused recession have joined with the Covid 19 economic paralysis which consequently have grossly affected the FG monthly allocation to the states and their IGR. With the situation we found ourselves now, what should any right functioning brain do than using its ingenuity on available resources to increase its IGR. Develop its existing infrastructures and build others that can attract traffic of investors and developers which will consequently increase its IGR . Another option that Makinde rejected was continuation of planting flowers around Ibadan to attract investors .

How do we build and upgrade this facilities with little available resources without asking for external aids ? We want to go to heaven but scare of death !!!

Oyo people have given their mandate to Makinde, he either think outside the box and make Oyo better than how he met it or tender excuses and apologies as stewardship by 2023..

However, what opposition analysts failed to tell the good people of Oyo State in this N100 billion prosperity bond were many.

They didn’t tell us that all things being equal, with the open facts, figures and transparency that Makinde’s administration made as its watchword and using this bond for what it was stipulated for, Oyo people stand to gain a lot.

They didn’t tell us that upgrading Ibadan airport to functioning international airport is an immense blessing to our dear state because it will generate good traffic of travellers, investors and developers, consequently increase Oyo IGR. What is better than diverting good numbers of travellers going through Lagos to ibadan? Can somebody visualize the number of hotels that will spring up in that axis.Taxes to Oyo government, employment for our people, directly and indirectly. That’s just one business out of thousands of businesses that international airport can bring.

They also failed to analyze the merits we can derive from having dry port within our neighborhood. People conversant with Apapa and Tincan Island environment can say more about the businesses that enable there. If Makinde then pave ways for how to start generating IGR from that axis, what is bad in that ? is it not a good venture ?

Let’s leave the public to imagine and quantify the benefits of Ibadan circular road. The enormous IGR for Oyo government and development that Ibadan city and residents will enjoy.

Their analysis also didn’t reveal that, opening up Oyo-ogbomosho road will bring gigantic development to that axis also.

Currently Oyo IGR is about N2.5 billion monthly and looking to all avenues to increase it above N6 billion soonest, is it possible without ventures and risks ?

All what opposition can see are debt and bankruptcy, demerit without any merit. It was like someone venturing into poultry business and mediocres are discouraging him that birds will be dying. If he listened to them, the business dies from the onset. Better listen to successive poultry farmers and forge ahead, thanks to my clergyman for that initiative.

Lagos took loans and bonds to develop their infrastructures, here they are now, mega city. Oyo should not be a coward !!!

Gov Oluwaseyi Makinde is on the right track to make Oyo greater than before, the opposition should use their calculations and analysis for themselves when it’s their turn and find themselves in the same shoe.

Oyo people are solidly behind and praying for Engr Seyi Makinde. Oyo greater heights in focus.


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