Oyo APC faults Makinde over ₦300bn loan approval
By Adejayan Gbenga –
The All Progressives Congress (APC) in Oyo State has criticised Governor Seyi Makinde for securing a fresh ₦300 billion loan, warning that the move could plunge the state into financial crisis.
The party alleged that Speaker of the House of Assembly, Hon. Debo Ogundoyin, recalled lawmakers from recess in August to approve the facility without the participation of its four members.
In a statement issued in Ibadan, the APC Publicity Secretary, Olawale Sadare, described the governor’s borrowing pattern as reckless and unsustainable. He said the opposition would mobilise residents for peaceful protests against what it termed “financial mismanagement and abuse of due process.”
The party noted that the new facility, approved on August 19, is the third loan obtained by the administration in eight months, following ₦200 billion in March and ₦110 billion from the French Treasury in July, bringing total borrowings in 2025 to ₦610 billion.
It added that despite collecting over ₦180 billion from federal allocations and internally generated revenue this year, the Makinde administration had failed to deliver tangible benefits to citizens.
The APC further accused the Speaker and some lawmakers of enabling “reckless borrowing,” warning that the debt burden could have long-term consequences for the state beyond 2027.
