The Senator Sharafadeen Alli Campaign Organisation has accused Oyo State Governor, Seyi Makinde, of putting the state’s financial future at risk with a proposed N100bn loan, alleging that the move is driven by political interests ahead of the 2027 elections.
The organisation, in a statement by its Director of Media and Publicity, Bisi Oladele, condemned the proposed borrowing and criticised the Oyo State House of Assembly for approving the loan, warning that it could leave the incoming administration with a heavier debt burden.
It questioned the economic justification for taking on another major financial obligation with Makinde’s tenure expected to end in May 2027.
The campaign organisation alleged that the proposed loan had more to do with the governor’s political ambitions and succession plans than with the development of the state.
“The proposed borrowing was not driven by any genuine developmental consideration but by a desperate political agenda to finance the 2027 elections,” the statement said.
The organisation, however, did not provide evidence to substantiate its allegation that the loan was intended to fund election-related activities.
It also faulted the state House of Assembly for approving the borrowing, accusing lawmakers of failing to subject the proposal to adequate scrutiny in the interest of the people.
According to the organisation, the legislature has a responsibility to protect the state’s finances rather than approve borrowing requests without thoroughly examining their implications.
“Approval by the legislature does not automatically confer economic wisdom, transparency or public interest on a borrowing decision,” it said.
The campaign organisation further criticised Makinde’s reported presidential ambition, alleging that the governor was more concerned about his political future and preferred successor than the financial wellbeing of the state.
It insisted that no amount of borrowing could guarantee victory for the governor’s preferred candidate in the 2027 governorship election, maintaining that the people of Oyo State would decide their next governor at the polls.
The organisation warned against using the state’s borrowing powers and creditworthiness to advance partisan political interests, stressing that the consequences of excessive debt could outlast the administration that incurred it.
It also said the incoming administration could subject questionable financial commitments to lawful scrutiny, adding that legislative approval would not shield any established wrongdoing from accountability.
The campaign organisation urged Makinde to reconsider the proposed loan and ensure that he handed over a financially viable state when his tenure ends in May 2027.
“He cannot borrow his way into the presidency, neither can he borrow his preferred candidate into the Government House in Agodi,” the statement said.
It warned that although the governor’s tenure would end, the burden of any debt incurred by his administration could remain with the people for years.
