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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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Oyo APC: Makinde Would Have Sold Nigeria If He Were President

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The Oyo State chapter of the All Progressives Congress has launched a fresh attack on Governor Seyi Makinde, saying Nigeria was fortunate not to have elected him President in 2023, alleging that he would have “sold the country to interested buyers” for personal gain.

The opposition party made the claim while responding to Makinde’s recent criticism of President Bola Tinubu’s economic reforms, which the governor reportedly described as ill-conceived during the unveiling of candidates of the Allied People’s Movement for the 2027 elections in Abeokuta, Ogun State, on Monday.

Makinde, who was represented at the event, also declared his determination to ensure that the APC is voted out of power in the 2027 general election.

Reacting in a statement issued on Wednesday, the Oyo APC, through its Publicity Secretary, Olawale Sadare, dismissed the governor’s remarks, insisting that no amount of criticism would persuade Nigerians to replace President Tinubu with Makinde.

The party said Tinubu’s record, experience and leadership credentials were far superior to those of the Oyo governor, adding that Makinde’s political ambition for the presidency stood little chance in 2027.

“The difference between President Bola Tinubu and Governor Seyi Makinde in terms of experience, reputation and results is like the distance between heaven and earth. No amount of warped criticism or shadow boxing will make Nigerians choose a failed governor over a performing President,” the statement read.

The APC further argued that although Tinubu’s economic reforms had attracted criticism in some quarters, they had also received commendation from international financial institutions and development partners, who, according to the party, acknowledged the administration’s efforts to stabilise Nigeria’s economy.

 

It also accused the Makinde administration of failing to translate increased federal allocations into meaningful development in Oyo State, alleging that the state had little to show in critical areas such as infrastructure, security and job creation.

The party further alleged that Makinde had transferred many of the state’s assets to private interests, claiming that if he had been President, he would have considered selling national assets as a solution to Nigeria’s economic challenges.

“As a matter of fact, Governor Makinde would have considered selling Nigeria as the best option if he had been President and faced with the challenges President Tinubu inherited in 2023. Nigerians will never make the mistake of entrusting him with the country’s mandate,” Sadare stated.

The APC maintained that President Tinubu remained focused on repositioning the country despite prevailing economic difficulties and expressed confidence that Nigerians would renew the party’s mandate in the 2027 general election.

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Oyo : Oseni seeks reconciliation, urges aggrieved APC members to close ranks

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‎The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has called on aggrieved members of the party in Oyo State to put the outcome of the primary behind them and embrace reconciliation in the interest of the party ahead of the 2027 general election.

‎The appeal came on Wednesday at an enlarged meeting of APC leaders and stakeholders in Ibadan North East Local Government Area, where Oseni urged members to close ranks and work together to reposition the party for victory at the polls.

‎In a statement issued by his media aide, Idowu Ayodele, and made available to journalists in Ibadan, the lawmaker representing Ibarapa East/Ido Federal Constituency said the time had come for party faithful to move beyond the disagreements that followed the primary election.

‎He said: “The primary election has come and gone. As loyal party members, our responsibility now is to unite behind the decisions of our great party and work together for its success. There is no victory without unity.”

‎The chairman House Committee on Federal Roads Maintenance Agency (FERMA) noted that while it was natural for party members to hold different opinions during the contest, the APC’s overriding interest must remain paramount, urging those with reservations to seek redress through dialogue rather than division.

‎According to him, “I appeal to every leader, stakeholder, member and supporter of our party to sheathe the sword, forgive one another and embrace genuine reconciliation. Our shared commitment to the APC is greater than any individual ambition.”

‎The APC senatorial candidate said the challenges confronting the party could only be overcome through collective resolve, mutual respect and sustained engagement among members across the state.

‎”The people of Oyo State expect a strong and united APC that is ready to provide purposeful leadership. We cannot afford to remain divided when there is so much work to be done. This is the time to rebuild trust, strengthen our structures and move forward together,” he said.

Oseni expressed confidence that with reconciliation, discipline and the support of party leaders and members, the APC would emerge stronger from the primary process and be well positioned to secure victory in Oyo State in the 2027 general election.

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Arapaja endorses Oseni’s Oyo South Senate bid, seeks APC victory in 2027

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A former Deputy Governor of Oyo State, Ambassador Taofeek Arapaja, has endorsed the senatorial ambition of the All Progressives Congress candidate for Oyo South, Hon. Aderemi Oseni, ahead of the 2027 general elections.

The endorsement came during a courtesy visit by the member representing Ido/Ibarapa East Federal Constituency to Arapaja’s residence in Ibadan, where both politicians held discussions on the future of the APC and preparations for the 2027 polls.

A statement issued on Wednesday by Oseni’s Media Aide, Idowu Ayodele, said the meeting focused on strengthening the party and mobilising support to ensure the APC records victory at all levels in the forthcoming elections.

According to the statement, Arapaja expressed confidence in the lawmaker’s capacity to represent the people of Oyo South in the Senate, describing his performance in the House of Representatives as evidence of purposeful and people-centred leadership.

He was quoted as saying, “Hon. Remi Oseni has demonstrated uncommon commitment to the welfare of his constituents through people-oriented projects and impactful representation. His performance in the House of Representatives gives me every confidence that he will deliver even greater results in the Senate.”

The former deputy governor also pledged his support for Oseni’s senatorial bid and promised to work towards the success of all APC candidates in the 2027 elections, from the presidential candidate to those contesting seats in the National Assembly and the Oyo State House of Assembly.
Arapaja further appealed to Nigerians, particularly people of the South-West, to support the re-election of President Bola Tinubu, saying continuity would enable the President to complete his constitutionally permitted two-term tenure.

“The South-West must remain united behind President Tinubu to enable him complete his constitutionally guaranteed eight-year tenure. We must also work collectively to ensure victory for our party at every level,” he said.

He also described Oseni as a humble, loyal and dependable politician whose consistent service had earned him the confidence of the people across Oyo South.

Also speaking, Mogaji Abass Oloko reaffirmed his support for Oseni’s senatorial aspiration and praised Arapaja’s enduring influence in Oyo politics, saying his relevance remained unquestionable because of his grassroots connection and longstanding relationship with the people.

Responding, Oseni thanked Arapaja for the warm reception, valuable counsel and endorsement, describing him as “a trusted ally, dependable leader and reliable teammate” whose support had further strengthened his resolve ahead of the 2027 elections.

The lawmaker recalled that their political relationship dated back to the period they both worked with former Osun State Governor Olagunsoye Oyinlola and later collaborated in the political coalition that reshaped Oyo State’s political landscape in 2018.

Oseni reiterated that leadership should be anchored on integrity, trust and honour, adding that he remained committed to providing quality representation and expanding developmental initiatives across Oyo South if elected to the Senate in 2027.

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