N7.bn CBN loan: Makinde dragging Oyo backward – APC

October 12, 2019
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The Oyo State chapter of the All Progressives Congress (APC), on Friday, berated Governor Seyi Makinde of the state and the Speaker of the State House of Assembly, Adebo Ogundoyin, over what it called “hasty” approval of a fresh seven billion, six hundred thousand naira (N7.6 b) loan.

DAILY POST recalls that the state House of Assembly had on Thursday approved the request of the Governor to take the loan facility from the Central Bank of Nigeria (CBN), though some members of the House kicked against the request made by Makinde, to access seven billion, six hundred thousand naira (N7.6 b) Central Bank of Nigeria (CBN) loan to boost farm settlements in Akufo in Ido Local Government Area and Eruwa in Ibarapa East Local Government Area of the state. 

Two of the aggrieved lawmakers, Isiaka Kazeem Tunde (Oyo East/ Oyo West) and Dele Adeola (Iseyin/Itesiwaju), expressed their dissatisfactions on concentration on the loan to only two farm settlements within only one federal constituency.

The duo noted that there was a need for Makinde to spread the scope and usage of the agricultural loan to other zones in the state and not limit it to Akufo and Eruwa farm settlements alone.

Deputy Speaker, Abiodun Fadeyi and the Minority Leader, Asimiyu Alarape in their contributions, also called for the extension of the loan facility to other areas across the state.

The Speaker, Adebo Ogundoyin, however, overruled the submissions of his colleagues and approved the loan, stating that the loan facility would be approved as presented

But, the APC while reacting, described the action as ‘conspiracy of bad governance’ between the governor and the speaker, adding that the administration had borrowed a total of N17.6 billion in three months.

APC in a statement signed by its Assistant Publicity Secretary, Prince Ayobami Adejumo, a copy of which obtained by DAILY POST, wondered why the Assembly gave another express approval for the governor’s request to borrow the quoted sum three months after a similar request to obtain a N10 billion infrastructural loan was granted.

The party condemned Ogundoyin’s alleged disrespect for the opinions of the majority of his colleagues, who had questioned the rationale behind the fresh loan request at the plenary on Thursday.

“The current governor has succeeded in bringing the whole machinery of local government administration to a halt completely and to further demonstrate his resolve to drag the state backwards by many years within the shortest period of time.

“We have again been made to see the need for the concerned citizens to beam their searchlight on the PDP administration of Makinde, as financial indiscipline is now the order of the day in the business of government.”

The party said it would not dwell on the futile attempt by Makinde’s aides to change the narratives on the controversial fresh loan, adding that the world had realized that the present administration is to mismanage the state resources and enmesh its debt crisis.

“Without a clear cut action plan, the Makinde administration has made itself a good customer to many financial institutions, as it gets all forms of loans. Unfortunately again, most of these loan transactions are done covertly and to the disadvantage of the people of the state”

“Apart from the statutory payment of salaries to government workers, nothing concrete has been done by the PDP government since May 29. The orchestrated ‘Light-Up Ibadan City’ project and purchase of 100 security cars have not come to any fruition, even when bogus amount of state funds had been expended on them without any due process.

“It is on record that no significant programme was put in place for the celebration of the nation’s 59th independence anniversary this year because the governor was nowhere to be found.”

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