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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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Adeleke: I Had No Electoral Deal With ADC

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OSUN State Governor, Ademola Adeleke, has denied having any electoral agreement or partnership with the African Democratic Congress before, during or after the August 15 governorship election.

Adeleke made the clarification on Tuesday in a post on his verified X handle, saying his victory was achieved through the support of God and the people of Osun State.

The governor said the ADC was not part of the political coalition that campaigned and mobilised support for his re-election, describing the group of political allies that worked for his victory as a “rainbow coalition.”

He said, “I had no electoral deal or partnership with the ADC before, during, or after the governorship election.”

Adeleke added that it was important to put the record straight, stressing that the ADC was not part of the coalition that campaigned and mobilised support for his re-election.

“For the sake of history, it is important to clarify that the ADC was never part of the rainbow coalition that canvassed, mobilised, and supported our campaign in the battle leading to last Saturday’s election,” he said.

The governor thanked his political allies for their sacrifices and efforts during the campaign, noting that their commitment contributed to his victory at the poll.

Adeleke, who called for unity after the election, said he remained governor of all Osun residents regardless of their political affiliation, religion or tribe.

“Now that the election is over, I remain the Governor of all Osun people, irrespective of political affiliation, religion, or tribe. My commitment is to unite our people and continue working for the progress and prosperity of Osun State,” he said.

Adeleke defeated the All Progressives Congress candidate, Bola Oyebamiji, and the ADC candidate, Najeem Salaam, in the keenly contested election.

The governor polled 511,067 votes to defeat Oyebamiji, who scored 444,815 votes, while Salaam secured 17,180 votes.

Adeleke won in 19 of the 30 local government areas in the state, while Oyebamiji won the remaining 11.

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Adeleke Reaffirms Tinubu Endorsement After Osun Victory

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Osun State Governor Ademola Adeleke has renewed his endorsement of President Bola Tinubu for a second term in 2027, barely hours after he was declared winner of Saturday’s governorship election.

Adeleke, who secured a second term in office, also commended Tinubu for what he described as his support for a free, fair and credible electoral process.

The governor spoke in Osogbo on Sunday while reacting to his victory, which he dedicated to the people of Osun State.

“At this point, I must deeply appreciate Mr President, His Excellency Senator Bola Ahmed Tinubu, for his strong support for a free and fair election,” Adeleke said.

“Mr President is a son of Osun State. And I hereby reaffirm my earlier endorsement of him for a second term in the 2027 presidential election.”

Adeleke thanked the people of the state for standing by him, saying their resilience and commitment to democracy had helped to produce the outcome of the election.

“In the last few months, Osun people have been under very intense pressure. Today, the issues are settled by the grace of God and the people.

“I therefore dedicate this victory to the good people of Osun State. I deeply appreciate your resilience, your strong will and your unwavering commitment to democracy,” he said.

The governor promised not to disappoint the electorate, saying his administration would build on its achievements and address areas where it had fallen short.

“As you have trusted me again for the second term in office, I will not disappoint you. To serve you better, I will reinforce my strong points and correct my errors,” Adeleke stated.

He also pledged to pursue accelerated development across the state under his renewed five-point agenda.

The Independent National Electoral Commission declared Adeleke the winner of the election in the early hours of Sunday.

The Returning Officer, Prof. Joshua Ogunwole, announced in Osogbo that Adeleke polled 511,067 votes to defeat the All Progressives Congress candidate, Bola Oyebamiji, who scored 444,815 votes.

The candidate of the African Democratic Congress, Najeem Salaam, came third with 17,180 votes.

A total of 1,005,800 votes were cast across the 30 local government areas of the state, while 985,079 votes were declared valid.

INEC said 1,010,684 voters were accredited for the election, which was contested by candidates of 15 political parties.

Adeleke’s victory secures another four-year term for him and further strengthens his political position in Osun ahead of the 2027 general elections.

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Tinubu tasks INEC, security agencies on credible Osun election

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President Bola Tinubu has charged the Independent National Electoral Commission and security agencies to ensure a peaceful, transparent and credible governorship election in Osun State.

Tinubu made the call in a statement issued on Friday by his Special Adviser on Information and Strategy, Bayo Onanuga, ahead of Saturday’s poll.

The President urged INEC to uphold the integrity of the electoral process and ensure that voters are allowed to freely choose their preferred candidate.

“As the people of Osun State head to the polling units to elect who will govern them in the next four years, I call on the Independent National Electoral Commission to ensure orderly conduct of the election.

“The election must be transparent, free and fair. I urge INEC to ensure the integrity of the process,” he said.

Tinubu also urged the electoral commission to use the Osun election as an opportunity to demonstrate its preparedness for the 2027 general elections.

“INEC must use this last off-cycle election as a test case to demonstrate to Nigerians their full preparedness for the 2027 polls,” the President added.

The President also charged the Inspector-General of Police, Tunji Disu, and other security chiefs deployed for the election to provide adequate security at polling units and prevent attempts to disrupt the exercise.

“I have charged the Inspector-General of Police and other heads of security outfits taking part in the election to provide maximum security at polling units. No room should be allowed for troublemakers to disrupt the process,” Tinubu said.

He stressed the need to protect voters and electoral officials, urging residents to participate in the election without fear or intimidation.

“Electoral officials and voters must be protected so they can perform their civic duties without fear or intimidation. Voters should feel confident to go out in their numbers to vote for the candidate of their choice, as all measures necessary to ensure a peaceful, free and fair election have been put in place.

“Our elections must be credible, and the outcome of the Osun Governorship election must reflect the will of the people,” he said.

Tinubu further urged voters to exercise their civic responsibility peacefully and avoid actions capable of undermining the conduct of the election.

More than 25,000 security personnel have been deployed across the state for the poll, while INEC has said preparations are on course.

With 15 candidates on the ballot, the election is expected to be keenly contested as voters across the state’s 30 local government areas elect a governor for the next four years.

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