*ADC Guber Candidate, Adegoke, Promises Better Deal For Ibadan Baales
By Stephen Gbadamosi, Ibadan
Fresh pressure came for Oyo State government over its borrowing and spending pattern as a public affairs analyst, Adebisi Adeyemo, called on it (State government) to disclose details of its recent borrowing arrangements, raising concerns about the financial obligations that may extend beyond Governor Seyi Makinde’s administration.
Adeyemo’s call follows the reported approval by the State House of Assembly on 21 October of a fresh ₦100 billion loan request by the governor from United Bank for Africa (UBA), alongside a ₦300 billion facility to refinance an existing contractors’ financing arrangement with Access Bank.
He noted that while the ₦300 billion facility represented the refinancing of an existing obligation, rather than entirely new borrowing, the reported arrangement would reduce the interest rate from 26 per cent to 22 per cent.
Adeyemo recalled that the fresh ₦100 billion loan reportedly carried an interest rate of 22 per cent, subject to review, with a repayment period of 48 months.
According to the analyst, although government borrowing could be justified when used to finance critical infrastructure such as roads, schools and hospitals, the financial implications ought to be made clear to citizens.
Adeyemo, particularly, expressed concern that Makinde’s tenure would end in May 2027, while the repayment period of the proposed fresh loan would extend beyond his administration.
He questioned whether citizens would inherit completed projects capable of justifying the financial commitments or debt obligations that could constrain the ability of subsequent administrations to provide essential public services.
The analyst, therefore, urged Gov. Makinde, the state Ministry of Finance, the Debt Management Office and the House of Assembly to make relevant financial documents available to the public within 24 hours of the publication of his appeal.
He listed the documents to be disclosed to include the complete loan and refinancing agreements, interest rates, associated fees, repayment schedules, security arrangements and guarantees.
Others, according to him, are the state’s current total debt profile, projected annual debt-servicing costs, specific projects to be financed with the fresh ₦100 billion, cost-benefit assessments, debt sustainability analysis and legislative approval documents.
Adeyemo also called on the House of Assembly to explain the financial scrutiny undertaken before approving the borrowing arrangements, stressing that legislative oversight should go beyond granting executive requests to examining their long-term implications.
He maintained that the 24-hour deadline was a public accountability challenge and not a claim that existing legislation imposed such a specific publication deadline.
The analyst further argued that any contractual provisions considered legitimately confidential should be accompanied by an explanation of the legal grounds for withholding them, while the remaining information should be made accessible to the public.
Citing Section 14(2) of the 1999 Constitution (as amended) and Section 22 of the Freedom of Information Act, 2011, Adeyemo said public welfare and accountability should remain central to decisions involving government’s use of resources from the common till.
He stressed that his concerns should not be interpreted as an allegation of financial misconduct or dismissed as political hostility, noting that both supporters and critics of the present administration had a legitimate interest in understanding the state’s financial commitments.
“Governor Makinde will leave office, but Oyo State will remain. Political tenures expire; public financial obligations may not,” he said.
Adeyemo called on the state government to provide documented explanations of the borrowing arrangements and their implications for Oyo State beyond 2027.
He added that residents deserved to know how long the state would continue servicing loans inherited from the present administration and the implications for future generations.
Don’t Worry, I’ll Give You A Better Deal –Adegoke Tells Baales
In another development, Oyo state governorship candidate of African Democratic Congress (ADC), Olooye Adegboyega Taofeek Adegoke, has assured the Association of Traditional Baales, otherwise known as community leaders, of full implementation of local government autonomy, better renumeration and urban renewal, which he said are critical tools to both the grassroots and state development.
He maintained that these would form important parts of his programmes to boost local economies, create safer and healthier living spaces, if voted into power in 2027 general elections.
He made the disclosure at the weekend during a strategic meeting with the Baales across all the 11 Local Government Areas (LGAs) in Ibadanland, the Oyo state capital.
According to him, in a statement made available to journalists by his media team on Sunday, the urban renewal would improve the neglected areas in major cities across the state, while the local government autonomy would enhance security and grassroots development as well guarantee better renumeration for the traditional institutions.
Olooye Adegoke, who is the Oota Balogun of Ibadanland, while speaking to a large audience of the Baales, insisted that he would upgrade infrastructure, boost local economy, and create safer and healthier environment through local government autonomy and urban renewal.
The ADC governorship candidate reiterated his desire to give the senior citizens from 75 years and above monthly allowances, as well as free health care, while there would be provision of jobs for the teeming youths of the state.
“There will be upgraded roads, public transit, and utility networks which will improve daily connectivity in Ibadan, Ibarapa, Ogbomoso, Oyo, Saki, Iseyin and other urban centres in Oyo State,” he explained.
“I am a staunch advocate of the local government autonomy; it is the closest tier of government to the people. The state government is often distant from the grassroots and may not be easily accessible to the local population.
“Local government administration is closer to the people, and if the elected local government executives possess the authority and financial resources to act, the grassroots will be the primary beneficiaries,” he added.
Adegoke also promised to strengthen traditional institutions by ensuring the prompt release of their statutory five per cent share of local government allocations.
The ADC candidate said his administration would be guided by fairness, equity and justice, adding that available resources were sufficient to drive development across the state.
“There will be a better renumeration for our traditional leaders through local government autonomy in the sense that their five per cent allocation from the local government allocations will get to them as and when due.
“We will also introduce monthly allowances for our elders from 75 years of age and provision of free healthcare for them as well as provision of pipe borne water across the state,” he said.
The baales, speaking through their president, Baale Folorunsho Durojaiye Bamitale Ige of Olounde Ige in Oluyole Local Government Area, thanked Olooye Adegoke for listing local government autonomy as parts of his lofty ideas and programmes, appealing to him to make local government autonomy a reality when elected into power in 2027.
They maintained that granting local government financial autonomy would enhance grassroots development and enable councils to maintain rural roads more effectively, and enhancement of security.
*PHOTO CAPTION: Adeyemo.
