Controversy has continued to mount in Oyo State following the approval of a ₦300 billion loan for Governor Seyi Makinde by the State House of Assembly.

The approval, first disclosed by Hon. Ibraheem Shittu, an All Progressives Congress (APC) lawmaker representing Saki West constituency, has sparked criticism from opposition parties, civic groups, and political stakeholders.

Lawmaker Raises Objection

Hon. Shittu claimed he was not informed of the emergency plenary session during which the loan was approved, noting that the House is currently on recess.

“I was not part of the lawmakers who approved the loan on August 19, 2025, and perfected on August 26, 2025. The House has been on recess since July 31 and will resume on September 16. Why was this emergency sitting not communicated to all members?” Shittu queried, describing the loan as “needless” given the sharp rise in federal allocations to the state.

Assembly Defends Approval

Reacting, the House of Assembly dismissed Shittu’s claims, describing him as “ignorant” and largely absent from legislative duties.

In a statement signed by Majority Leader Sanjo Adedoyin and Information Committee Chairman Waheed Akintayo, the lawmakers explained that the emergency plenary was properly convened and communicated on the Assembly’s official platform.

They clarified that the ₦300 billion package includes ₦149 billion to refinance an existing UBA loan and ₦151 billion for infrastructure development and contractors’ financing.

“It is shameful that Hon. Shittu resorts to falsehood for political gain. He has consistently been absent from critical legislative sittings, oversight visits, and has made no meaningful contributions in the Assembly,” the statement read.

APC Warns of Debt Burden

The opposition APC condemned the loan, warning that Oyo State could face an unsustainable debt crisis before 2027.

Publicity Secretary, Wasiu Olawale Sadare, noted that Governor Makinde had already secured ₦200 billion in March and another ₦110 billion French Treasury Concessional loan in July, bringing total loans in 2025 alone to ₦610 billion.

“With federal allocations and internally generated revenue exceeding ₦180 billion this year, citizens have not felt the impact of these huge resources,” the APC stated.

Government Defends Governor Makinde

The Oyo State Government dismissed the opposition’s criticisms, insisting that Governor Makinde remains committed to transparent financial management.

Special Adviser on Media, Dr. Sulaimon Olanrewaju, clarified that refinancing is not fresh borrowing but a strategy to reduce repayment costs, while contractor financing would ensure timely project delivery.

He highlighted that under Makinde, the state’s Internally Generated Revenue has grown from ₦20 billion annually in 2018 to over ₦70 billion in 2025 without raising new taxes.

“This financing will accelerate major projects such as the 110km Circular Road, the upgrade of Ladoke Akintola Airport, and feeder road construction across all zones,” Olanrewaju explained.

Civil Society Condemns Approval

The Concerned Youth Movement (CYM) criticized the lawmakers, calling the loan approval “disrespectful” to the electorate.

In a joint statement by Chairman Pastor Tayo Adigun and Secretary Alhaji Olaide Kobomoje, the group accused both the executive and legislature of mortgaging the future of unborn generations.

“Why do lawmakers consistently approve loans without consulting their constituents? The legislature should be a watchdog over the executive, not an accomplice,” the group declared.

Security Concerns for Lawmaker

Meanwhile, APC chieftain Barr. AbdulWaheed Olatunde Lawal called on the party leadership to safeguard Hon. Shittu, alleging threats to his safety for opposing the loan.

He urged the APC to engage with the Commissioner of Police and the DSS to prevent harassment or unlawful arrest of the lawmaker.

“Instead of being commended for exposing financial irregularities, Hon. Shittu now faces threats. The party must stand with him to show that it protects those who fight corruption,” Lawal warned.

Outlook

As the controversy deepens, the loan debate has sharpened political divisions in Oyo State, with the government insisting the funds are crucial for infrastructure and economic growth, while critics warn of looming debt and financial recklessness.