APC cautions Oyo govt. on debt portfolio, raises concern
The All Progressives Congress (APC) in Oyo State has expressed concerns over alleged plans by Governor Seyi Makinde to obtain a fresh loan of N300 billion loan.
The State House of Assembly, led by Speaker Hon. Debo Ogundoyin, reconvened during recess on August 16 and August 26 to consider the loan request
In a statement signed by its publicity secretary, Olawale Sadare, and made available to newsmen in Ibadan, the APC said the development raised questions about transparency and due process in governance.
The APC warned that continuous borrowing may affect the state’s economy and the welfare of its citizens if not carefully managed.
It alleged that the decision was made without the involvement of its four lawmakers in the chamber, who were not fully briefed before approval was given.
Sadare said that the party might mobilise residents to embark on a peaceful protest if what it described as “unabated borrowing” continues without clear justification.
The party said that the latest loan was the third in 2025 alone, following earlier borrowing of N200 billion in March and N110 billion in July.
The APC compared Oyo to Imo State, where Governor Hope Uzodimma, recently increased workers’ minimum wage to N104,000, citing better financial management.
It wondered why, despite significant resources, Oyo citizens had not seen direct improvements in their daily lives since 2019.
The APC further cautioned the Assembly leadership to act responsibly, stressing that excessive debt could burden citizens before and beyond May 2027.
It urged residents to remain calm, assuring that it would continue to raise issues affecting governance in the overall interest of the state.
