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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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Ex-Oyo deputy governor Adeyemo sworn in as APC chair, rallies support for Tinubu

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A former Deputy Governor of Oyo State, Chief Moses Alake Adeyemo, has been sworn in as the Chairman of the Oyo State chapter of the All Progressives Congress (APC), urging members of the party to rally support for President Bola Tinubu ahead of the 2027 general elections.

Adeyemo formally assumed office on Friday following the inauguration of the newly elected State Executive Committee members who will manage the affairs of the party in the state for the next four years.

The inauguration ceremony, held at the party’s State Secretariat in Oke-Ado, Ibadan, marked the climax of the party’s 2026 congresses in the state.

The South-West Zonal Legal Adviser of the APC, Kolawole Majaro, administered the oath of office on Adeyemo and 35 other members of the State Executive Committee.

The executives had emerged through a consensus arrangement during the March 3, 2026 state congress held at the Obafemi Awolowo Stadium, Ibadan, under the supervision of a committee led by Amos Gombi from the APC National Secretariat in Abuja.

In his acceptance speech, Adeyemo described his emergence as a renewed call to service, pledging to strengthen the party and sustain unity among members.

He appreciated party leaders within and outside the state for ensuring a smooth and successful congress process.

Adeyemo also commended members of the Local Organising Committee, particularly Fatai Ibikunle and Afeez Bolaji Repete, for their contributions to the success of the exercise.

He said, “This new State Executive Committee under my leadership is being put in place to add value and strengthen our great party in view of the challenges ahead.

“We have used the opportunity of the congresses to showcase our collective commitment to unity and harmony as progressives and democrats.”

The new chairman expressed optimism that the atmosphere of peace within the party would be sustained ahead of future party primaries and the 2027 elections.

According to him, the party’s target is to secure 90 per cent of the votes in Oyo State for President Tinubu while also reclaiming the state’s Government House in 2027.

Adeyemo praised the President’s leadership, saying the administration was delivering on its promises.

“President Tinubu is, no doubt, performing beyond our expectations and the best way to appreciate his good work is to retain him in Aso Rock until 2031,” he said.

“Against all odds, the President is pursuing his Renewed Hope Agenda with vigour and passion, while the positive results are being felt across sectors of the economy and national life.”

Other members of the newly inaugurated executive include Taofeek Lamidi as Deputy Chairman, Fatai Adesina as State Secretary, Adekemi Opatunde as Woman Leader, Olawale Sadare as Publicity Secretary, Olalekan Oladejo as Youth Leader, and Remi Adepoju as Organising Secretary.

Also inaugurated were Ajiboye Akinsanya as Treasurer, Sunday Aborisade as Legal Adviser, Tinuade Adigun as Auditor, Lukman Owonikoko as Assistant State Secretary, Fatimah Hassan as Deputy Woman Leader, and Jimoh Osundara as the Leader of Persons Living With Disabilities, among others.

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2027: Sen. Dickson Dumps PDP, Joins Newly Registered NDC

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Senator Seriake Dickson receiving the flag of the NDC

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.

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Oyo APC congress: Oseni congratulates Adeyemo, others

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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.

 

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