The All Progressives Congress (APC) in Oyo State has condemned Governor Seyi Makinde over the approval of a fresh N100 billion loan by the state House of Assembly, accusing his administration of recklessness, wasteful spending and insensitivity to the plight of residents.
The opposition party also vowed to pursue the recovery of any public funds allegedly misappropriated under Makinde’s administration after he leaves office on May 29, 2027.
The warning came in a statement issued on Wednesday by the Oyo APC Publicity Secretary, Olawale Sadare, who faulted the lawmakers for approving the governor’s loan request amid concerns over the state’s finances.
The controversy followed a letter from Makinde seeking approval to obtain the N100 billion facility from a commercial bank. Speaker of the House of Assembly, Debo Ogundoyin, reportedly presented the request to lawmakers on Monday before it was approved on Wednesday.
The APC questioned the rationale for the loan, describing the decision as another indication of what it called impunity and financial recklessness by the state government.
The party also warned Makinde against proceeding with a proposed council election scheduled for December 29, 2026, alleging that more than N4.2 billion belonging to the 33 local government councils could be spent on the exercise.
In the statement, Sadare recalled that the governor had acknowledged that federal allocations to states and local governments had increased, but argued that the improved revenue had not translated into sufficient socio-economic relief for residents.
He questioned why the administration was seeking another loan despite the funds accruing to the state and its local councils.
According to the APC, the government had justified the borrowing on the grounds of refinancing existing loans and funding ongoing infrastructure projects, but the party disputed the explanation.
The opposition accused the administration of contract cost inflation, excessive contract variations and poor compliance with due process. It, however, did not provide documentary evidence in the statement to substantiate the allegations.
The party further criticised what it described as a pattern of supplementary budget requests, alleging that the government had repeatedly returned to the House of Assembly for additional budget approvals before fully implementing previously approved budgets.
The APC also linked the recent resignation of the Director-General of the state’s Due Process Office and other reported departures of senior officials to what it described as growing concerns within the administration.
It claimed the developments could have implications for the government after the expiration of Makinde’s tenure.
“Engr. Makinde and his cronies shall be made to cough out every kobo of the money belonging to our dear state which they have misappropriated while in office immediately after the expiration of his final term in about seven months,” the party said.
The APC maintained that public resources must be managed transparently and urged the state government to explain the purpose of the N100 billion loan and demonstrate how the funds would benefit residents.
The allegations by the opposition party had not been independently established in the statement, and no response from the state government was included in the account.
The loan approval is likely to intensify debate over Oyo State’s borrowing, infrastructure spending and management of public finances as political activities gather momentum ahead of the 2027 general elections.
