Controversy Surrounds Gov. Makinde’s N300 Billion Loan Approval

The approval of a ₦300 billion loan request for Governor Seyi Makinde by the Oyo State House of Assembly has sparked heated debates and mixed reactions across the state.

According to LMSINT MEDIA, Hon. Ibraheem Shittu, a lawmaker representing the Saki West State Constituency under the All Progressives Congress (APC), was the first to raise alarm publicly about the loan’s approval.

Shittu, who expressed dissatisfaction, argued that the loan was endorsed during the Assembly’s six-week recess, without adequate notification to all members.

Lawmaker Raises Objection

In his reaction, Hon. Shittu declared:

“I want it to be on record that I, Hon. Shittu Ibraheem, representing Saki West State Constituency, was not part of the lawmakers who approved a ₦300 billion loan on August 19, 2025, and perfected on August 26, 2025, during an emergency sitting while the House was on recess.”

He emphasized that the Assembly was on break from July 31st to September 16th, yet an unscheduled plenary was organized for the approval. Shittu questioned why such a massive loan was necessary, especially at a time when Oyo State was already experiencing increased revenue from the Federation Account Allocation Committee (FAAC).

His statement has generated strong reactions from citizens, civil groups, and political parties in Oyo State.

House of Assembly Defends Approval

In response, the Oyo State House of Assembly described Shittu as “ignorant” and accused him of rarely attending plenary sessions.

A statement signed by Majority Leader, Sanjo Adedoyin, and the Chairman of the House Committee on Information, Waheed Akintayo, dismissed Shittu’s claims as misleading.

The lawmakers clarified that the emergency session was duly communicated on the Assembly’s official platform. They further explained that:

• ₦149 billion was allocated for refinancing an existing facility with the United Bank for Africa (UBA).
• ₦151 billion was approved as a new loan targeted at infrastructure development and contractor financing.

They criticized Shittu for absenteeism, alleging that he missed crucial sittings, oversight visits, and failed to contribute meaningfully in the House.

APC Raises Alarm on Debt Burden

Meanwhile, the opposition APC condemned the approval, warning that the state risks financial collapse before 2027.

Wasiu Olawale Sadare, APC’s Publicity Secretary, in a statement obtained by LMSINT MEDIA, argued that Gov. Makinde had already secured ₦610 billion in loans within eight months of 2025, including ₦200 billion in March and ₦110 billion from the French Treasury in July.

The APC insisted that despite huge federal allocations and internally generated revenue, citizens had not felt tangible development impacts.

The party accused the Assembly leadership of acting as a “rubber stamp” for the governor.

Oyo Government Insists on Transparency

The Oyo State Government, however, countered opposition claims. Dr. Sulaimon Olanrewaju, Special Adviser on Media to Governor Makinde, stated that the facility was structured to ease repayment and support infrastructure projects.

According to him:

• ₦149 billion was strictly for refinancing old, high-interest loans.
• ₦151 billion was meant for ongoing projects, including the Rashidi Ladoja Circular Road Phase 2, the Samuel Ladoke Akintola Airport upgrade, and feeder road construction.

Olanrewaju insisted that Gov. Makinde’s financial management had increased the state’s Internally Generated Revenue (IGR) from ₦20 billion annually in 2018 under APC to over ₦70 billion in 2025, without introducing burdensome taxes.

He further argued that the APC had no moral standing to criticize, given its history of unpaid salaries, abandoned projects, and massive debts during its tenure.

Civil Group Condemns Lawmakers

Adding to the controversy, the Concerned Youth Movement (CYM) criticized both the governor and the House of Assembly for “mortgaging the future of unborn generations.”

The group’s leaders, Pastor Tayo Adigun and Alhaji Olaide Kobomoje, urged Oyo residents and leaders to reject unjust governance. They stressed that lawmakers should act as watchdogs instead of routinely approving loans without consulting their constituents.

APC Chieftain Demands Protection for Shittu

In another twist, APC chieftain Barrister AbdulWaheed Olatunde Lawal expressed concerns over Hon. Shittu’s safety.

In a letter obtained by LMSINT MEDIA, Lawal urged the APC to engage security agencies including the Police and DSS to prevent harassment or unlawful arrest of the lawmaker.

He argued that Shittu was only fulfilling his constitutional oversight duties and warned that silencing him would damage democracy and accountability in Oyo State.

Lawal advised the APC leadership to petition the National Working Committee (NWC) and even the Presidency if necessary, to protect Shittu from intimidation.

Conclusion

The ₦300 billion loan approval has exposed deep political divisions in Oyo State, raising questions about transparency, governance, and the long-term financial stability of the state. While the government insists it is a strategic move to sustain growth, opposition parties and civil groups maintain it is a reckless decision that endangers the future of citizens.