A sociopolitical group, Oyo Ronu Development Forum has expressed concern over the recent N300 billion loan approved by the Oyo State House of Assembly.
The group, in a communique issued by its media and communications team, made available to OYOINSIGHT.COM on Sunday, noted that there are questions regarding transparency and accountability that the state government must answer.
The communique read:
“The attention of the Oyo Ronu Development Forum (ORDF) has been drawn to the recent approval of a ₦300 billion loan by the Oyo State House of Assembly on Tuesday, August 19, 2025, during what was supposed to be a recess period. Reports indicate that the approval was perfected on August 26, 2025.
”As a non-partisan indigenes’ group committed to the development of Oyo State, ORDF wishes to express serious concern over the process and circumstances surrounding this loan approval.
“We acknowledge the importance of infrastructural development and the need for financial instruments to drive progress. However, the manner in which this loan was passed raises critical questions about transparency, accountability, and due process.
“Our concerns include:
1. Justification of Emergency: Why was this loan treated as an emergency despite the State recording significant revenue improvements from FAAC allocations?
2. Transparency and Inclusiveness: Reports suggest that not all members of the House were duly informed of the emergency plenary. If true, this undermines democratic principles.
3. Loan Details and Utilization: What specific projects will this loan fund? What are the repayment terms, interest rates, and geographic spread of the proposed projects across the State’s senatorial districts?
4. Debt Sustainability: With previous loans taken by the State, what has been their impact? Will this new debt create development or impose a future financial burden on Oyo State?
ORDF calls on the Oyo State Government and the House of Assembly to:
a. Publish a comprehensive breakdown of the loan, including the purpose, repayment plan, interest rate, and the list of projects with their locations.
b. Ensure equitable distribution of projects across all zones of the State.
c. Commit to full transparency in the management of these funds and open channels for civic monitoring.
“As indigenes of Oyo State, we reserve the right to demand accountability and fairness in governance. We are not opposed to development, but development must be driven by transparency and inclusiveness. Oyo State belongs to all of us, and the decisions taken today will shape the future of generations to come.”
