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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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2027: Makinde Hit as 200 Ex-Councillors, Thousands of Supporters Dump His Camp for APC

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Defectors accuse governor of neglect, vow to work for APC victory in 2027

The political camp of Oyo State Governor Seyi Makinde has suffered a major setback following the defection of more than 200 former councillors to the All Progressives Congress (APC).

The former councillors, who served in the legislatures of the state’s 33 local government areas between 2021 and 2024, announced their defection on Tuesday, declaring their readiness to mobilise their supporters for the victory of APC candidates in the 2027 general elections.

The defectors, who also claimed to have thousands of supporters behind them, were received at the APC state secretariat in Oke-Ado, Ibadan, by the party’s state executive members led by its chairman, Otunba Moses Alake Adeyemo.

The former Senate Leader and Coordinator of the APC Presidential Campaign Council, Senator Teslim Folarin, and members of his team were also present at the secretariat on a courtesy visit when the defectors arrived.

Speaking on behalf of the group, Hon. Muili Kazeem Arowodana said their decision to leave the ruling Allied People’s Movement was driven by what he described as years of neglect, hardship and unfair treatment under the Makinde administration.

Arowodana said the former councillors served for three years without the benefits and opportunities they expected, accusing the governor of denying them the means to meet the needs of their constituents.

“We have wasted a lot of years in the Omititun camp of Governor Seyi Makinde. We have suffered untold hardship, dehumanisation and deprivation,” he said.

He alleged that funds meant for local governments were diverted through the joint account arrangement, leaving the councils with inadequate resources to execute projects and meet the needs of residents.

The former councillor also complained about poor salaries, the absence of allowances and the alleged withholding of severance benefits, which he said had left many former councillors struggling financially.

He further accused the governor of concentrating decisions on projects, contractors and costs in his administration, leaving elected representatives with little opportunity to attract meaningful development to their communities.

Arowodana said the group had decided to move on politically, expressing confidence that the APC would provide a better platform for their ambitions and the development of their communities.

He also declared the group’s support for Senator Sharafadeen Alli as the party’s preferred option for the 2027 governorship election.

According to him, the former councillors would deploy their grassroots connections to mobilise voters for Alli and other APC candidates, insisting that they were determined to help the party secure victory at the polls.

 

 

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Cheshire Home Land: Alli warns Makinde against sale to private developers

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SSACO demands immediate halt to proposed deal, says public assets belong to the people

The Senator Sharafadeen Alli Campaign Organisation (SSACO) has warned Governor Seyi Makinde against any move to sell or allocate the Cheshire Home land in Eleyele, Ibadan, to private developers, insisting that public properties must be protected for the benefit of the people.

The organisation said the reported plan had raised fresh concerns about the handling of public assets in Oyo State, warning that the state could lose valuable land needed for future public infrastructure if such properties were transferred to private interests without proper justification.

In a statement on Tuesday, the Director of Media and Publicity of SSACO, Bisi Oladele, called for an immediate halt to any proposed transaction involving the Cheshire Home land.

Oladele said the governor was only a custodian of the state’s assets and had a responsibility to protect them for present and future generations.

“Governor Makinde must understand that he is a temporary custodian of the people’s commonwealth, not its absolute owner,” the statement said.

The organisation questioned the wisdom of disposing of public land in strategic locations when the state would continue to need space for schools, hospitals, recreational centres, social welfare institutions and other essential facilities.

It warned that public assets acquired or preserved by previous administrations should not be allowed to disappear without clear explanations of the reasons for their disposal and the benefits to the people.

“What will be left for future generations if every strategically located public property is converted into a private estate, shopping complex or commercial development?” the organisation asked.

SSACO argued that as Ibadan and other parts of the state continue to grow, land would become increasingly important for public infrastructure and social services. It said government should be looking for ways to expand such facilities rather than reduce the assets available for public use.

The organisation also expressed concern about what it described as recurring controversies surrounding the ownership, allocation and commercial development of public properties under the Makinde administration.

It called on the state government to clarify the status of the Cheshire Home land and explain whether any sale or allocation to private developers was being considered.

According to SSACO, decisions involving public properties must be guided by transparency, accountability and the overall interest of residents, not commercial considerations alone.

The organisation therefore demanded an immediate suspension of any proposed sale or allocation of the land until the circumstances surrounding the reported plan were made clear.

It also urged the government to ensure that any decision concerning public assets was open to scrutiny and supported by compelling reasons.

“Oyo State belongs to its people, and its collective inheritance must be protected,” the statement added.

 

 

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You Can’t Claim APC, Promote Opposition – Oyo City Boy Director, Onireti, Warns Against Selective Allegiance

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The Oyo State chapter of the City Boy Movement has warned political groups claiming allegiance to the All Progressives Congress against promoting opposition candidates, saying party loyalty should not depend on personal interests.

The state Director of the movement, Hon. Olufemi Onireti, gave the warning in a statement on Monday, declaring the group’s support for the APC and all its candidates.

Onireti said the movement would not support some candidates of the party while backing others from rival political parties.

“We are unequivocally loyal to the APC and all its candidates. Our loyalty is not selective, and we will not support one candidate while abandoning another,” he said.

He expressed concern over the activities of groups that identify with the APC but openly campaign for candidates of other political parties.

According to him, such conduct raises questions about their commitment to the party, particularly when political interests are placed above party loyalty.

“You cannot claim to be committed to the APC while simultaneously promoting candidates of other political parties based on personal interests or political calculations,” Onireti said.

He stressed that the movement would not associate with any arrangement that undermined the APC or promoted rival candidates under the guise of supporting the ruling party.

“For the avoidance of doubt, the Oyo City Boy Movement stands firmly with the APC and all its candidates. We will not be part of any arrangement that undermines the party’s interests,” he added.

Onireti also expressed appreciation to members and supporters who attended the movement’s inaugural event held last week.

He particularly thanked the Oyo State APC Chairman, Chief Moses Alake Adeyemo, and the state Women Leader, Dr Mrs Felicia Adekemi Opatunde, for attending the event and supporting the movement.

He also commended the executives and members across the state’s zones for their contributions to the success of the inauguration.

The director urged APC stakeholders and affiliated groups to demonstrate consistency in their political allegiance, calling for greater discipline and unity within the party.

He said members should be able to distinguish groups genuinely committed to the APC from those whose political activities suggest otherwise.

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