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N100bn Bond: NCC boss, Akande cautions Makinde against excessive borrowing

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Prof. Akande

Alarmed at the approval of the issuance of a N100 billion bond by the Oyo State government, Chairman of the Nigerian Communications Commission, NCC, Prof. Adeolu Akande, on Wednessday cautioned Governor Seyi Makinde against excessive borrowing.

Governor Makinde had on Wednesday morning announced the approval of the loan tagged “Oyo Prosperity Bond” which, according to him, will facilitate the execution of priority projects that will further drive economic development in the State.

This is coming after the administration secured close to N50 billion loans in the first 14 months of its emergence.

It will be recalled that the Oyo Assembly had on May 19, 2020, approved a N22.5 billion infrastructure loan from a commercial bank. Before that, on October 10, 2019, the Assembly had approved the sum of N7.6 billion for the upgrading of two farm settlements in Akufo and Eruwa, to Farm Estates.

The APC chieftain, Akande, who hails from Otu, headquarters of Itesiwaju local government area of the State, explained that there is nothing bad about borrowing, but added that what such loans seek to achieve must be of economic benefit to the people of the State.

According to him, “Nobody needs to be told that the Nigerian economy has not been good for years. Many states have been struggling to meet their obligations. So, if any state is to borrow to fund any project, such project must be one that would bring economic development to the State.

“While I am not against infrastructure development in our dear State, proper evaluation needs to be done to determine which projects should be financed through borrowing. It should not be about borrowing to finance just any project. We have got to a stage where projects to be embarked upon by government at all levels must be ones that will lead to increase in internally generated revenue, draw investors to the State, create wealth for the people and ease the financial burden of the State.

“The Ibadan Circular Road project, for example, is a laudable one. It is a project that would open up the State and bring about an increase in IGR if properly harnessed. However, it is economically unhealthy to borrow to finance the project. Late Governor Abiola Ajimobi, I recall, had awarded the project via a public-private partnership (PPP) arrangement before the incumbent government ordered the company to stop work. What I think the government should have done was to engage a company with the capacity to fund it via a Build-Operate-Transfer (BOT) arrangement.

Prof. Akande also advised Governor Makinde against burdening taxpayers in the State with funding the expansion of the Ibadan Airport.

“The airport is a federal responsibility. Rather than burden taxpayers in the State with the cost of expanding the airport, Governor Makinde should work with representatives of Oyo State in the National Assembly to secure federal funding for the expansion of the airport by the Ministry of Aviation. The federal government is presently expanding many airports across the country, and Oyo State should not exclude herself from this benefit. The recourse to state finance for the airport project is an indication of failure in ensuring cordial federal-state relations by the Oyo State Government.

“The government must not impose an extra burden on taxpayers in the State by self-funding projects that can be funded by the federal government or the private sector”, he said.

Urging Governor Seyi Makinde to be creative in the aspect of fund generation and harnessing Oyo State’s economic potentials, Akande lamented the neglect of major infrastructural facilities across the State which, he said, should be useful for economic growth.

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Makinde Hints at Presidential Ambition, Says Focus Remains on Oyo People

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Governor Seyi Makinde of Oyo State has voiced confidence in his ability to lead Nigeria, stating he possesses the capacity to occupy the nation’s highest political office.

However, the two-term governor of the Peoples Democratic Party (PDP) maintained that his current focus remains on delivering good governance to the people of Oyo State.

Makinde made this assertion during an appearance on Politics Today, a political programme on Channels Television, closely monitored by Mega Icon Magazine.

Reflecting on the 2027 general elections, Governor Makinde predicted a major political showdown, describing it as one between the Nigerian people and the ruling All Progressives Congress (APC), rather than a straightforward contest between the PDP and the APC.

“I don’t have any doubt that I have the capacity to occupy the highest office in this land and I have what it takes,” Makinde declared. “But what I want to do right now—is it what Nigerians are asking for? Is it what my party will say we should do? We don’t know; we still have a long time to go.”

In a moment of humility that reflected both personal conviction and political maturity, Makinde added, “Let me also say this: if my political journey ends here, I am also happy.”

His comments come amid a flurry of political realignments and coalition talks across opposition lines ahead of the 2027 presidential election. Former Vice President Atiku Abubakar, PDP’s 2023 presidential candidate, recently spearheaded a coalition effort with key political figures including former Anambra governor Peter Obi and ex-Kaduna State governor Nasir El-Rufai. The coalition, announced on 20 March 2025, aims to unseat President Bola Ahmed Tinubu’s APC-led administration, which faces mounting criticism over economic hardship, rising inflation, and soaring cost of living.

However, in a surprising twist, Makinde and fellow PDP governors rejected the Atiku-led coalition during a party meeting held on 14 April 2025. Speaking on the issue, Makinde insisted that while individuals may be free to explore alliances, the party must first set its house in order.

“Your house must be in order before you invite others,” he stressed, distancing the PDP from the idea of hurried mergers or coalitions.

Elder statesman and PDP Board of Trustees member, Chief Bode George, threw his weight behind the governors, arguing for a more strategic approach and advocating a southern presidential candidate to lead the party into the next general elections.

When asked directly whether he would contest the presidency in 2027, Makinde responded with characteristic clarity and resolve.

“Nobody will set an agenda for me. I will set an agenda for myself,” he said.

“People can say whatever they want to say. Right now, I am focusing on what the people of Oyo State have given to me—the task ahead of us. I am not distracted. I will not play stunt politics. I will not do things because it feels right in some people’s ears. No, I will stay focused to ensure we bring the dividends of democracy to our people.”

Makinde emphasised the importance of governance over grandstanding, highlighting ongoing infrastructural projects and policies aimed at securing the future of Oyo State citizens.

“If I want to contest, I will come out at the appropriate time,” he concluded. “One thing you should expect from Seyi Makinde is that he would never come out to say I want to do XYZ without preparations and without being held accountable for whatever he says he wants to do.”

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Defiant Return: Senator Akpoti-Uduaghan Defies Ban, Receives Hero’s Welcome in Kogi

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Senator Natasha Akpoti-Uduaghan on Tuesday received an enthusiastic reception from supporters and residents of Ihima community in Kogi State, despite a state government ban on rallies and processions.

By 8 am, crowds from the five local government areas of Kogi Central Senatorial District, which Akpoti-Uduaghan represents, had flooded the Ihima community in Okehi Local Government Area (LGA) to welcome the People’s Democratic Party (PDP) lawmaker.

Several local musicians entertained the gathering as they eagerly awaited the arrival of the senator. Their patience was soon rewarded when Akpoti-Uduaghan arrived in a white helicopter, prompting cheers and jubilant applause from her supporters.

Addressing the crowd, Akpoti-Uduaghan acknowledged the state government’s ban but dismissed concerns that it applied to her visit.

“Yesterday, we heard on the news that rallies and gatherings will not be allowed, that roads will be blocked, and convoys leading into the state will not be permitted. I knew that we were the targets. But then I said, this is not a political season, this is not campaign time,” she said.

“We are not having a rally. This is just me, the Senator representing Kogi Central, coming down to her people to celebrate this festive time – Sallah – with you, and there is nothing wrong with that. I am breaking no law. This is Nigeria. We have the right to be free, to express our choice in gatherings and celebrations.”

Her visit came just hours after the Kogi State Government imposed a ban on public gatherings and processions, citing security concerns. The restrictions were further reinforced by a curfew imposed in the area by Okehi LGA Chairman, Amoka Monday, and a police warning advising her to cancel the event.

Despite these measures, Akpoti-Uduaghan remained defiant, insisting that no authority could prevent her from visiting her home.

“Nobody and nothing can stop me from coming home. I’m an Ebira woman; this is my land. I’m the daughter of the late Jimoh Abdul Akpoti. I know my roots; I’m not a bastard, and I’m not afraid of anybody,” she declared to the cheering crowd.

Ahead of her homecoming, the senator alleged that any security breach during the event should be blamed on Kogi State Governor Usman Ododo, Senate President Godswill Akpabio, and former Kogi State Governor Yahaya Bello.

Akpoti-Uduaghan has been in the headlines in recent months, having been suspended from the Senate for allegedly violating its rules. Her suspension coincided with a sexual harassment allegation against Senate President Akpabio. Additionally, a recall process against her is currently underway. However, she maintains that her political travails are the result of a witch hunt.

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Adebayo Open to Stepping Down for ‘Better’ SDP Candidate in 2027

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Adewole Adebayo, the 2023 presidential candidate of the Social Democratic Party (SDP), has declared his willingness to step aside in the 2027 elections if a stronger candidate emerges to lead the party.

Adebayo made this statement on Sunday during an appearance on Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television, monitored by Mega Icon Magazine.

“Everybody knows that I have an aspiration. I’m working on it, but God is the author of tomorrow; we don’t even know who is going to be around in 2027,” he said.

The lawyer and politician emphasised that his ambition would not stand in the way of a more capable leader who could address Nigeria’s challenges.

“It is my prayer to God that if there is a person who God thinks is better than me to fix the problem of Nigeria, my ambition should not stop that person because we want a country that works. That is the kind of thing we are working on at this time,” he added.

Adebayo assured Nigerians that the SDP would present a candidate worthy of national support, capable of unseating President Bola Tinubu of the All Progressives Congress (APC) in the next election.

He further stressed that the SDP would avoid divisive politics based on religion and ethnicity.

“What used to be an easy discussion – with religion and ethnicity – has become explosive now. So, we will not use the SDP forum to try to bifurcate our people into different zones,” he noted.

According to him, the party aims to produce a candidate whose emergence will be met with widespread approval.

“When we make a choice in the SDP, there will be resounding joy outside the SDP, and Nigerians will say: ‘Okay, finally, this platform has given the country a chance’,” Adebayo said.

 

 

 

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