In what has stirred controversy in Oyo State’s political circle, only 13 out of the 32 members of the Oyo State House of Assembly have reportedly approved a ₦300 billion loan request put forward by Governor Seyi Makinde.
The loan, according to sources, is expected to finance key infrastructural projects and support ongoing development initiatives across the state.
However, the limited number of lawmakers present at the approval sitting has raised questions about transparency, consensus, and the actual level of legislative support for the borrowing plan.
Critics argue that such a significant financial decision ought to have enjoyed broader deliberation and backing from a majority of the Assembly members. All Progressives Congress (APC) are already demanding clarification on why less than half of the lawmakers participated in approving a loan of this magnitude.
Meanwhile, the state government insist that the funds are necessary to accelerate development projects, boost economic growth, and improve living standards in the state.
They maintain that Governor Makinde has a track record of judiciously using borrowed funds for capital projects that benefit the people.
As public debate grows, attention is now on the Oyo Assembly leadership and the state government to provide more details on the loan’s terms, repayment plan, and the specific projects to be financed, in order to reassure residents of transparency and accountability.
