A group identifies as Oyo state Egalitarian Group has condemned Governor Seyi Makinde’s proposed N10billion loan which was approved by the state’s House of Assembly on Tuesday.
In a press statement made available to LiveTimesng.com titled: ‘Oyo Govt: Seyi Makinde makes U-Turn borrowed 10b Naira for Projects’, the group maintained that since the governor has assumed office, he had received enough money to government’s coffer which is enough to run his government.
In the release signed by coordinator of the group, Comrade Dapo Ilesanmi, the group said: “With less than two months after Engineer Seyi Makinde was swore in as the Executive Governor of Oyo state as took some decision which has affected the state in both positive and negative ways.
“One of the steps taken by the state government under the watch of Governor Makinde was the recent approval of Ten Billion Naira loan given by the Oyo state house of Assembly.
“From May 29 till date the state government had received two months allocation of over 9 billion Naira and bail out fund close to 8 billion Naira coupled with monthly Internally generated revenue of 5 billion Naira in two months with cumulative total of 22 Billion Naira.
“Except the payment of June and July salaries, No concrete things that the present administration has done in regards of development of the state that warrant the Governor to borrow the huge amount at this critical period.
“In many occasion mostly especially In the build up to the March 9 governorship election in Oyo state, Engineer Seyi Makinde as a candidate of People’s Democratic Party then said in one of his campaign that he can run a government without Federal allocation.
“Also About three weeks ago, the governor declared an assets worth 48 billion naira which came as a surprised to the major opposition party in the, All Progressives Congress (APC).
“But in a dramatic twist, Makinde sent an executive bill to the State House of Assembly seeking their approval to borrow 10 billion naira.
“Though , there is no crime in borrowing. Government all over the world borrow money but what you use the money for is the most important.
“If truly Governor Makinde loves this state why can’t he borrow the state he claimed to dearly loved 10billlion from the 48billion naira he declared as asset?
“Nobody is asking him to use his personal money to run government but to bail out the Oyo state from huge interest attached to loans by Nigerian banks”, the statement reads.