Politics
Fresh N200bn Loan: Oyo APC Accuses Makinde of Pushing State Into Financial Ruin
The Oyo State chapter of the All Progressives Congress (APC) has fiercely opposed Governor Seyi Makinde’s move to secure a fresh loan of N200 billion, describing it as reckless and detrimental to the state’s financial future. The party called on concerned Nigerians to intervene and prevail upon the governor to abandon the borrowing plan.
According to the party, it said sources had revealed that Governor Makinde sought and secured approval for the loan on Tuesday, allegedly through the Speaker of the State House of Assembly, Hon. Debo Ogundoyin, and a few select lawmakers. It added that the governor’s request, contained in a letter dated 13th March 2025, cited the need to refinance an existing loan from a commercial bank.
In a statement issued on Tuesday and made available to journalists in Ibadan, Oyo APC’s Publicity Secretary, Olawale Sadare, condemned the move, insisting that the governor’s borrowing spree was driving the state into a financial mess.
“Another distressing development has emerged from the Oyo State House of Assembly today. The Speaker and a handful of his loyalists have secretly approved a fraudulent loan request from the governor without the knowledge of most of their colleagues. This decision was only made public through a post-plenary document released by the Clerk of the House,” the statement read.
Sadare decried the mounting debt profile of Oyo State under Makinde, alleging that the governor had already incurred over N300 billion in loans over the last six years. He questioned why, despite such heavy borrowing, the state had little to show in terms of infrastructural development, economic growth, and agricultural advancement.
“If the previous loans had been judiciously used to improve infrastructure, build the economy, and ensure food security through a sustainable agricultural revolution, there would be no need for concern. Unfortunately, the present PDP administration has demonstrated a lack of accountability and is determined to mortgage the future of Oyo State,” he said.
The APC spokesman further questioned the rationale behind the fresh loan request, citing the substantial revenue inflows into the state’s coffers.
“For the record, Governor Makinde receives an average of N11 billion in federal allocation and another N11 billion on behalf of the 33 local government councils. In addition, the state generates no less than N3 billion in Internally Generated Revenue, bringing the total monthly revenue to at least N25 billion. The critical question now is: what exactly is he doing with this massive income, and why does Oyo still need another huge loan?”
Sadare accused the governor of failing to prioritise essential needs despite the available funds, lamenting that workers in state-owned tertiary institutions were not being paid a living wage, while key sectors such as emergency response, agriculture, and education remained neglected.
“Oyo State cannot even afford five fully functional fire trucks to tackle emergencies. Farmers lack access to modern equipment, while the state’s public schools are deteriorating rapidly. Yet, Governor Makinde, who has failed to complete an ordinary bus terminal after allegedly spending N20 billion, has now set his sights on an airport upgrade project as another means to siphon public funds,” he added.
The APC spokesman also took a swipe at Speaker Ogundoyin, accusing him of acting as a rubber stamp for the governor’s financial dealings.
“The manner in which this N200 billion loan was hurriedly approved exposes the Speaker as a willing accomplice in Makinde’s financial recklessness. However, justice will eventually prevail, and no one involved in this dubious scheme will escape accountability,” Sadare warned.
As of the time of filing this report, efforts to get a reaction from the Oyo State government and the Speaker of the House of Assembly were unsuccessful.
The Senator representing Bayelsa West, Seriake Dickson, on Thursday announced his resignation from the Peoples Democratic Party (PDP), declaring that he had joined the newly registered Nigeria Democratic Congress (NDC).
Dickson, a former governor of Bayelsa State, made the announcement during a media briefing in Abuja, attributing his decision to what he described as irreconcilable differences within the PDP.
The lawmaker said the emergence of the NDC would strengthen Nigeria’s democratic system by providing a credible opposition platform.
According to him, the party recently received its certificate of registration from the Independent National Electoral Commission.
He said, “Last week INEC issued a certificate of registration and we now have the newest party in Nigeria known as the Nigeria Democratic Congress and our symbol is victory, the victory sign.
“So, my dear Nigerians, you now have a credible alternative opposition party known as the Nigeria Democratic Congress.”
Dickson noted that although the party’s registration took longer than expected, its eventual approval was a welcome development for the country’s democratic landscape.
“Yes, it is coming at this time. We would have wished it started some years or months back. We don’t control INEC and their processes; they delayed. We don’t also control the judiciary, but thank God it has finally arrived,” he said.
The senator also stressed that Nigeria’s democracy must not slide into a one-party system, insisting that political diversity remained vital for national stability.
“This nation cannot be a one-party state. Nigeria cannot be a one-party state. Nigeria is not designed to be a one-party state.
“We are a very diverse nation culturally, religiously and politically and that is the beauty of our country.
“So anyone or any party promoting one-party rule in Nigeria is mistaken. We build political parties and get involved in movements to access power for the good of the people, not for our personal benefit,” he added.
Meanwhile, the Independent National Electoral Commission recently announced the registration of two new political parties.
The parties are the Democratic Leadership Alliance and the Nigeria Democratic Congress, bringing the total number of registered political parties in Nigeria to 21.
The announcement was made by the INEC Chairman, Prof. Joash Amupitan, during the commission’s first quarterly consultative meeting with political party stakeholders for 2026.
According to him, the Democratic Leadership Alliance completed the required verification process, while the Nigeria Democratic Congress was registered in compliance with a Federal High Court order.
The Chairman, House of Representatives Committee on Federal Roads Maintenance Agency (FERMA) and member representing Ibarapa East/Ido Federal Constituency, Hon. Aderemi Oseni, has congratulated the newly elected State Executive Committee of the All Progressives Congress (APC) in Oyo State.
The party, at its state congress held on Tuesday at Liberty Stadium, Ibadan, elected a former Deputy Governor of the state, Moses Alake Adeyemo, as its new chairman alongside other state executive members.
Oseni, in a statement on Wednesday by his media aide, Idowu Ayodele, described Adeyemo’s emergence as well-deserved, noting that his experience and longstanding commitment to the party would further strengthen its structure in the state.
He said the peaceful conduct of the congress demonstrated the party’s commitment to internal democracy and progressive leadership.
The statement said, “I congratulate our newly elected State Chairman and leader, His Excellency, Moses Alake Adeyemo, and other members of the State Executive Committee on their emergence. This victory reflects the confidence reposed in them by party members across the state.”
Oseni further expressed confidence that the new leadership would reposition the party for greater cohesion and electoral success.
According to him, “This is a critical moment for our party in Oyo State. It calls for unity, reconciliation, and renewed commitment to the ideals that bind us together as progressives.”
The federal lawmaker assured the new executives of his support and cooperation in advancing the programmes of the party and strengthening its grassroots structures.
He urged party members to rally behind the new leadership to ensure stability and secure future victories for the APC in the state.
Politics
Ibarapa East Assembly Hopeful, Ramon Congratulates Ajiboye, Says Emergence Good for Oyo APC
An aspirant for the Ibarapa East State Constituency seat in the Oyo State House of Assembly, Engr. Yusuf Abiodun Ramon, on Tuesday congratulated Alhaji Lateef Akinsanya (Ajiboye) on his emergence as the State Treasurer of the All Progressives Congress (APC) in Oyo State.
Akinsanya was elected at the party’s state congress held today, a development party faithful in Ibarapa East Local Government described as significant for the zone’s growing influence within the APC structure.
In a statement issued shortly after the announcement of the results, Ramon described Ajiboye’s victory as “well-deserved and timely.”
According to him, “Alhaji Lateef Akinsanya has remained steadfast, loyal and committed to the ideals of our great party. His emergence as State Treasurer is a clear affirmation of the trust and confidence members have in his integrity and administrative competence.”
Ramon noted that the election of a party stalwart from Ibarapa East into a critical financial office at the state level would further strengthen grassroots participation and unity within the APC.
“This is not just a personal victory for Ajiboye; it is a collective achievement for Ibarapa East. It reinforces our relevance in the progressive family and encourages broader inclusion in party administration,” he said.
The aspirant expressed confidence that the new treasurer would discharge his responsibilities with transparency, accountability and diligence in order to deepen internal democracy and institutional stability within the party.
He urged party leaders and members across Oyo State to close ranks in support of the newly elected executive members to ensure cohesion and effective management of party affairs ahead of future political engagements.
Ramon reaffirmed his commitment to the growth of the APC in Ibarapa East and Oyo State at large, stressing that sustained unity and responsible leadership remain essential to consolidating the party’s strength across the state.
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