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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.

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“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.

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“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: Rep Oseni Inaugurates N120m Earthmoving Equipment for Grassroots Development

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Engr. Aderemi Oseni, the House of Representatives member representing Ibarapa East/Ido Federal Constituency in Oyo State, on Monday, inaugurated N120 million worth of earth-moving equipment, aimed at enhancing grassroots development and ensuring food security within the federal constituency.

Oseni noted that the dire state of road networks in his constituency compelled him to procure the equipment, which includes a grader and payloader, to facilitate the seamless movement of people, goods, and services.

The lawmaker, who spoke shortly after the inauguration of the equipment in Ibadan said: “We are currently starting the rehabilitation of 80 roads in phase one of this project. Once completed, we will proceed to phase two. Additionally, we have selected certain roads in both Ido and Ibarapa East local governments for asphalt tarring.

He added, “Hiring equipment for road rehabilitation is no longer fashionable nor economical. That’s why we’ve invested in our own. In addition to ongoing health and education projects, we’ve finalised plans to dig 50 boreholes in polling units to enhance water supply. Currently, we’ve finished three boreholes, in addition to several others commissioned prior to the elections.”

While also distributing bags of rice to numerous communities as part of the measures to cushion current hardship, the Chairman, House of Representatives Committee on Federal Road Maintenance Agency (FERMA) lauded President Bola Tinubu for the release of N100 million each to lawmakers through the Federal Government Ministry of Agriculture to address the plight of the masses.

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The legislator tasked Nigerians to be actively involved in the intervention of the Federal Government on road projects across the nation by reporting any contractor that indulges in the poor handling of projects to the agency’s offices.

“I have been telling our committee members in the House of Representatives that fixing our roads is our major challenge. But as community leaders and members of society wherever we find ourselves, we should be involved in monitoring these contractors. A lot of money has been appropriated for road projects.

“When you see contractors saddled with the responsibility of fixing the roads in your area and you see that the job is not being done properly, you don’t need to be a qualified engineer before you know when something is not being done very well or the way it should be done. Raise your voice and go to our offices in various states to report such incidents and we will be able to take it up from there”, Oseni posited.

Earlier in his remark, the Senior Legislative Aide (SLA) to the lawmaker, Alhaji Abdul-Hakeem Okedina urged the people to support him (Oseni) in his drive to improve infrastructural facilities in the constituency, assuring that more dividends of democracy will be available to all irrespective of political, religious and ethnic affiliations.

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Economic Hardship: Rep Oseni Lauds FG’s N100m Palliative for Each Constituency

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Hon. Aderemi Oseni, the lawmaker representing Ibarapa East/Ido Federal Constituency in Oyo State, has commended the proactive stance of the President Bola Tinubu-led administration towards addressing the welfare needs of Nigerians.

The lawmaker applauded the government’s commitment to ameliorating the prevailing hardships faced by citizens, particularly through the significant intervention of One Hundred Million Naira (N100,000,000) allocated to each federal constituency via the Ministry of Agriculture.

Oseni, in a statement on Thursday by his media aide, Idowu Ayodele, in Ibadan, emphasised the importance of such interventions in providing essential support to communities and constituents grappling with economic challenges, notably in the distribution of grains to cushion the impacts of the hardship in Nigeria.

The Chairman, House of Representatives Committee on Federal Road Maintenance Agency (FERMA), said the allocation, aimed at cushioning the adverse effects of hardship, signifies a crucial step towards fostering sustainable development and resilience across the nation.

He informed that the palliative has no bias for partisan politics as it is meant for all vulnerable members of the public in the Ibarapa East/Ido Federal constituency, irrespective of political affiliations, adding that the contractor had supplied the rice in the amount of the money approved.

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“I want to commend President Bola Ahmed Tinubu for the several initiatives and interventions of the federal government to bring ease to the people. I also want to reassure all the constituents in Ibarapa East/Ido federal constituency of my commitment to their welfare at this time and always,” the lawmaker assured.

The APC chieftain appealed to members of the public to remain patient and calm as lawmakers are making frantic efforts to ensure the effective implementation and equitable distribution of democratic dividends for the benefit of constituents in their various constituencies.

Renewing his commitment and promising more dividends of democracy for his constituency, Oseni also hinted that in line with his campaign promises, he would be commissioning road construction equipment for the rehabilitation of rural roads this Saturday.

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APC criticises Makinde for alleged education decline in Oyo

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APC criticises Makinde for alleged education decline in Oyo

 

Oyo state chapter of the All Progressives Congress (APC) has expressed deep concern over the deteriorating state of education in the region, accusing Governor Seyi Makinde’s administration of negligence and insincerity in addressing the challenges faced by the sector.

In a statement issued by the party’s Publicity Secretary, Olawale Sadare, and made available to Mega Icon Magazine,  APC highlighted issues such as scarcity of teachers, deplorable infrastructure, lack of teaching aids and equipment, poor monitoring and supervision, erosion of competent administrators, and outdated policy and curriculum implementation as contributing factors to the decline in education standards.

Oyo APC emphasized the need for urgent intervention, stating, “It is time well-meaning citizens and residents of the state began to ask questions on why a key sector like that of education has had to be handled with levity in the last five years.”

The party disputed the state government’s claims of improvement, citing examples of severely understaffed schools and inadequate resources.

The statement pointed out specific cases like St. Joseph Primary School in Ibadan North West LGA, SDA Primary School in Egbeda LGA, Baptist Basic School in Tede, AUD Primary School in Igboora, Muslim Community Primary School in Itesiwaju LGA, and Christ Church School in Ona-Ara LGA, where an alarming shortage of teachers was evident.

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The APC also drew attention to the critical situation in public secondary schools, highlighting the lack of staff to teach core subjects.

“Examples included Baptist Secondary Grammar School in Atisbo LGA and Methodist High School in Ibarapa North LGA, where the Old Student Association and a mere four teachers, respectively, struggled to meet the educational needs of hundreds of students”.

The party urged residents to question the Seyi Makinde-led administration’s commitment to education, stressing the need for immediate action to prevent further deterioration.

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