Gov. Makinde’s N300 billion loan is surrounded by controversy.

The Oyo State House of Assembly’s approval of a loan for Governor Seyi Makinde in the amount of 300 billion naira has been met with mixed emotions.

The loan’s acceptance was initially publicly announced by Ibraheem Shittu, a member of the State House of Assembly, according to XANDERTECH.

All Progressives Congress (APC) candidate Shittu represents the Saki West constituency in the state assembly.

While the House was in recess, he yelled out that no one had told him when the loan had been granted.

The loan, in his words, was like needles.

According to Shittu, “I want it to go on record that I, Hon. Although a loan of 300 billion naira was granted on August 19, 2025, and perfected on August 26, 2025, in an emergency sitting during our 6-week break, I, Shittu Ibraheem, a lawmaker representing the Saki West State Constituency in the Oyo State House of Assembly, was not one of those MPs.

From July 31, 2025, until September 16, 2025, the House will be out of session for six weeks.

It was approved in an emergency plenary session without informing all members of the loan.

All states have more than enough money, so taking out a loan now makes people wonder. The FAAC that Oyo State receives has increased by around 500%. This loan seems unnecessary, so why not just sign it? I don’t understand why this loan is deemed an emergency and why not all of the honourable members were informed about the meeting. Stop letting your politicians off the hook.

Many people have strong feelings over the lawmaker’s rejection of the loan.

The state government and the State House of Assembly have provided justifications for the loan, but the big opposition party and other state groups have spoken out against it.

The Assembly informs an APC lawmaker that they are ignorant and that they hardly attend plenaries.

The legislator who voiced the concern was characterised by the House of Assembly as someone who is unaware of the inner workings of the Assembly in its response.

It was observed by the Assembly that the lawmaker hardly made it to plenaries.

These proclamations were declared by the Assembly in a joint statement by Sanjo Adedoyin, Majority Leader, and Waheed Akintayo, Chairman of the House Committee on Information.

In the declaration that was made public to XANDERTECH, the two individuals characterised Shittu’s claims as deceiving.

They insisted that the Assembly’s general platform had officially announced the Tuesday, August 19, 2025, emergency plenary.

Claiming that out of the total N300 billion credit, 149 billion would go towards paying off an existing loan with UBA and the remaining 151 billion would go towards funding infrastructure projects and individual contractors.

An assembly member’s use of deceit for expedient political gain is both regrettable and dishonourable. The National Assembly, like all other legitimate legislatures in Nigeria, often holds emergency plenaries, which are neither unlawful nor unconstitutional.

Thank you, sir. Shittu consistently skips out on crucial parliamentary sessions, including when the governor delivers his State of the State address and when the budget is unveiled.

Thank you, sir. Among the recently conducted thorough monitoring visits to projects across the state, Shittu was the sole member who chose not to participate.

His absence permeated all of his prior committee work and oversight responsibilities, and he made zero or insignificant contributions in any of them.

We can see that Hon. Both his constituents and the legislative mandate placed in him have been let down by Shittu. Now that he is trying to cover up his ineffectiveness with lies, he has nothing on the floor—no bill, motion, or contribution.

“Instead of spreading baseless accusations, Hon. Shittu would be better served by focussing on becoming an effective lawmaker. His chronic lack of engagement and attendance is a disgrace to Saki West and its residents.

Debt could lead to Oyo’s downfall before May 2027, according to the APC

The state’s populace has not yet witnessed the beneficial effects of the prior loans, according to the All Progressives Congress (APC)’s response.

Wasiu Olawale Sadare, the Publicity Secretary of the All Progressives Congress (APC), the state’s leading opposition political party, issued the statement in question.

According to the statement, which was made accessible to DAILY POST in Ibadan, the loans have the potential to endanger the state’s future.

Now that the world knows that Gov. Makinde has no good plans for the future of the Pacesetter state’s citizens, it’s up to all the good people in the world, both inside and outside the state, to step up and put an end to the theft that he has been committing against them since 2019.

The new loan of N300 billion that the Hon. On August 19, 2025, the Legislative House, which was rubber-stamped by the governor under the leadership of Debo Ogundoyin, approved the third installment in a series of loans totalling N610 billion. This comes in just eight months into the year 2025, during which the same governor received two loans, one of N200 billion in March and another of N110 billion from the French Treasury Concessional.

Let us not lose sight of the fact that in 2025, the same governor received over N180 billion in allocations from Abuja and internally produced revenue, yet the general public did not perceive a tangible benefit from these enormous funds.

The most tragic aspect is that the Speaker of the State House of Assembly and a handful of his colleagues have willingly become instruments of corruption in Gov. Makinde’s hands.

“The good people of the state should stay calm and endure the remaining 20 months of the Makinde administration. However, we do not yet know how the average citizen and resident’s life would be affected by an unnecessary debt burden before and after May, 2027.”

The Oyo state government has reaffirmed Makinde’s dedication to open and honest financial reporting.

The state administration of Oyo State responded to the criticism by announcing that governor Makinde will maintain open books about the state’s finances.

This was contained in a statement signed by Dr. Sulaimon Olanrewaju, the state governor’s special adviser on media.

He claimed that Oyo State was able to emerge from its financial crisis because to the Makinde administration’s harsh but strategic measures.

According to Olanrewaju’s statement, Makinde has managed to raise the state’s Internally Generated Revenue (IGR) from N20 billion in 2018 (under the APC) to more than N70 billion in 2025 (under Makinde) without adding more taxes on the people.

To start, a loan of N300 billion does not exist. The state’s payback load will be reduced thanks to a new loan with improved terms, which the House of Assembly approved for N149 billion. This will replace an older, more expensive loan. The government has set aside N151 billion for infrastructure investment and contractor finance, a system that gives contractors the assurance they need to complete projects on schedule while also allowing the government to fund new and continuing projects.

Refinancing is not the same as taking out a new loan; it’s just good money sense. However, vital projects can be finished without stifling government funding thanks to contractor financing.

Reminding the APC of its eight years of misrule is crucial; during that time, Oyo State was turned into a “civil service state,” complete with a grounding economy, unpaid salaries, abandoned projects, and crushing debts.

Under Governor Makinde, the state’s economy was repositioned through the first wave of structured financing. Phase 2 of the 110 km Rashidi Ladoja Circular Road, which opens new economic corridors, is one legacy project that will be expedited through this second financing arrangement. Other projects in the pipeline include upgrading the Samuel Ladoke Akintola Airport, which will reposition Oyo State for international investment, and building feeder roads throughout the entire state.

The APC wants to give the people of Oyo State a lesson in fiscal responsibility? The party’s track record of unfinished projects and underpaid salaries makes it ridiculous. An administration whose restraint has garnered praise from international development partners like the World Bank is under attack from the same party that abandoned the country with a mound of debt and unfulfilled promises.

The relevant information would have been available to the legislator had he participated in plenary. On the contrary, he lied to the press, as is customary for APC members. To this day, Governor Seyi Makinde has not wavered from his pledge to invest in Oyo State so that it can become economically independent, globally competitive, and affluent. The truth will remain unaffected by any amount of APC misinformation.

A group confronts lawmakers, calling their actions insulting.

At the same time, the Concerned Youth Movement (CYM) has criticised the Oyo State House of Assembly for the loan that was recently authorised.

They said it was an affront to the voters who had chosen those politicians to approve it.

CYM’s statement was signed by Pastor Tayo Adigun, the chairman, and Alhaji Olaide Kobomoje, the secretary.

They claimed that the state legislature and the executive branch, headed by Governor Seyi Makinde, were betting against the future of the state’s unborn inhabitants.

In their statement, they urged all inhabitants and leaders of the state, regardless of their zone, religion, or political party, to stand out against injustice that affects current and future residents.

“Why are lawmakers involved in the loan?” For some reason, they never seem to consult with their people before approving government loans.

“They should be mindful of what they do while in office, because there will come a time when they must account to the people for their decisions and policies,” the group warned.

We are pleading with Oyo State’s religious and political leaders to caution the state lawmakers against jeopardising their children’s future.

As a movement, we find it inconceivable that governments are receiving large sums of money as monthly allocations from Abuja and then loaning it out.

“Our legislators have proven time and again that they are not fulfilling their duty as watchdogs over the executive’s activities,” the statement continued.

Call on the Police and DSS to Protect Shittu—APC Leader Urges Party Chairman and Others to Do the Same

Barrister AbdulWaheed Olatunde Lawal, a prominent APC figure, urged his party to back the lawmaker.

For the sake of the lawmaker’s physical safety and security, the APC chairman advised the party to coordinate with the state’s police commissioner and DSS director.

The APC must make sure the legislator was not improperly detained or mistreated by any security agency, according to a statement by Lawal that was acquired by DAILY POST.

Not only am I writing to you today as an ardent supporter of our magnificent Saki West party, but also with the heavy heart and professional concern of an attorney.

Hon. [Nephew’s] safety, political career, and constitutional rights are the topics of this letter. Representative Ibrahim Shittu of Saki West State Constituency is under grave threat because he is carrying out his sacred duties in the legislature.

He would have been severely violating his constitutional obligation to oversee if he had remained mute in the face of such an accusation. Indeed, his deed exemplifies the principles professed by the APC.

But instead of praise for his honesty and bravery, we’re hearing worrying rumours of plans to blackmail, threaten, and politically isolate him because he won’t be involved in what he sees as a serious financial irregularity.

So, I’m making a public plea to our party’s state leadership to: Pronounce publicly that Hon. As a lawmaker for the APC, Shittu is free to speak out about allegations of financial wrongdoing without worrying about retaliation. To show that we support anti-corruption activists, not their enablers, the Party must take a bold stance with him.

“Intervene with the Oyo State House of Assembly leadership to make sure that Hon. As a result of doing his job, Shittu has not been suspended, victimised, or disciplinary action against by any kangaroo.

The Party’s apparatus needs to be put into action to safeguard its own. Ensure the physical safety and security of Hon. through official engagement with the Oyo State Commissioner of Police and District Director of State Services (DSS). Shittu Ibrahim. He must be protected from any form of unlawful arrest or harassment by the Party’s security detail.

The Oyo State Chapter will not hesitate to formally petition our Party’s National Working Committee (NWC) and the President’s office to protect a citizen and a lawmaker whose life is in danger for speaking out against corruption if the threats continue.

“Estemed Mr. Everyone who cares about democracy, including the general public and the media, is watching the APC, chairman. Our party’s integrity in Oyo State will be revealed by how we deal with this issue. Is our stance going to be one of standing up for accountability or one of enabling corruption and silencing bravery?

Doing the right thing by one of our own will have enormous political consequences. Our support for Hon. Oh no.

The people of Oyo State need to see that the APC is leading the way in good government, and they need to know that any party member who bravely stands up for what’s right will be ferociously protected.