- Engineer Seyi Makinde urged
the people of Oyo state to be
mindful of the forthcoming
election in 2019 as Oyo
state's debt profile under
Ajimobi skyrockets
- Makinde said Oyo's debt
profile continues to rise
despite huge resources
accruing to the state enough
to move it from its condition
A former gubernatorial aspirant,
Engineer Seyi Makinde, has
blamed the high debt profile of
Oyo State on the profligacy of
the current Oyo State
administration.
In a statement released on
Sunday by Makinde’s media
office on a recent publication by
the Bureau of Statistics, which
puts Oyo states’ domestic debt at
N115.9 billion, Makinde said
Ajimobi’s second term is plagued
by an appetite for domestic debt
and high recurrent expenditure.
He said this could plunge Oyo
state to into economic paralysis if
not checked.
The statement made available to
NAIJ.com quoted the Debt
Management Office records
saying Oyo state owed N4.8
billion domestic debt in 2011
when Governor Ajimobi took
over.

This has increased by more than
2000 percent within five years,
while external debt over the
same period reduced by just
nine percent from $78 million to
$71 million.
“The crave for domestic debt by
this administration must be the
worst in the history of our dear
state,” Makinde said.
“But what should worry any
patriotic citizen of Oyo state is
that the current debt value may
have doubled by the end of 2017
because the government would
have to borrow at least,
approximately N100 billion, to
fund the 2017 budget over which
we raised alarm some months
ago due to the unrealistic targets
and spending.”
He noted that debt is not
particularly bad if borrowed fund
is wisely channeled towards
revenue-driving projects and
infrastructure projects that yield
economic productivity.
“This is where the current
administration failed woefully,
always throwing money at
problems without well thought-
out solutions, impact and
outcomes.
“My policy team has carried out a
profile of Oyo state and we have
come to the conclusion that the
state - with a prime place in
history, large arable land,
presence of education and
research centres - can become
the most attractive place to live,
visit and work in Nigeria.
"Our assessment also showed
that the resources that have
accrued to this administration
were enough to steer the state in
this direction,” he added.

Makinde claimed that the danger
that lies ahead for Oyo state
requires a more innovative
solution under the guide of
focused governance.
He therefore advised that the
people of Oyo state must be
thoughtful in electing the next set
of leaders.
“It is almost certain that the
current government will leave
Oyo State in a precarious state
and it will be a grave mistake to
support the continuity of such,”
he said.

https://www.naij.com/1105880-under-ajimobi-oyo-state-paralysis-n1559b-debt-makinde.html

Electioneering towards 2019 has started...Nigerian Profesional Politicians League...

I don't think Oyo people are illiterate ! but they look like illiterate in Lagos that why they can't develop and they have the resources