The Oyo State Government has disclosed that the N30 billion released by the Federal Government as part of the intervention fund approved for the January 16, 2024 Bodija explosion in Ibadan has remained untouched, nearly two years after the incident.
The state government also revealed that the Federal Government is yet to release the outstanding N20 billion balance from the N50 billion approved to support the reconstruction of Old Bodija and its environs.
In a statement issued on Thursday by the Commissioner for Information, Dotun Oyelade, the government said the N30 billion is still intact in the Oyo State Government Infrastructure Support Account domiciled with FirstBank of Nigeria.
According to the statement, Governor Seyi Makinde formally wrote to President Bola Ahmed Tinubu on January 19, 2024, requesting federal intervention following the devastating explosion. The governor reportedly outlined immediate actions taken by the state, including search-and-rescue operations, medical treatment for victims at the state’s expense, provision of accommodation for displaced residents, and deployment of emergency services.
The statement said the state estimated the total cost of intervention at N100 billion but received presidential approval for N50 billion, specifically for the reconstruction of Old Bodija and surrounding areas. Of this amount, only N30 billion was released by the Federal Government through the Central Bank of Nigeria on November 4, 2024.
“As of Thursday, December 31, 2025, the N30 billion remains untouched in the Oyo State infrastructure account. Interested members of the public may verify this with the bank,” the statement said.
The government explained that it deliberately refrained from accessing the funds because the remaining N20 billion has been withheld by relevant federal agencies without official explanation.
“Given the recent controversies surrounding the approval and release of the funds, the Oyo State Government is convinced of the wisdom of its decision to ‘wait and see’ before utilising the N30 billion already released,” the statement added.
The government maintained that despite delays in federal intervention, it acted swiftly after the explosion, spending N24.6 billion from its own resources on emergency response, infrastructure reconstruction and compensation to victims.
The breakdown, according to the statement, includes N20.141 billion spent on reconstructing infrastructure in Bodija and adjoining areas, and N4.085 billion paid as support and compensation to affected victims.
The state government further noted that intervention funds are treated as capital grants and are subject to standard budgeting processes, explaining why the receipt of the N30 billion was not publicly announced earlier.
Reaffirming its commitment to transparency and accountability, the Oyo State Government urged residents to disregard what it described as attempts by “desperate political actors” to exploit the tragedy for personal or political gain.
Governor Makinde, the statement said, remains committed to serving the people of Oyo State faithfully and ensuring that all approved funds are properly accounted for and utilised in the best interest of victims and the state at large.
