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Makinde Should Explain How Oyo Incurred Over N45 Billion Debt In One Year-Akinpelu



A human rights activist, Comrade Adesina Akinpelu has called on Oyo State Governor, Engineer Seyi Makinde to explain to the people of Oyo state, how the state incurred a debt of over N45 billion in one year.

Akinpelu stated this, while speaking with journalists who paid him a courtesy visit on his birthday in Ibadan.

According to him, the debt profile of the state, as released by the Debt Management Office (DMO), is alarming and requires full explanation from the state Governor.

“Oyo state’s total public debt as at December 31, 2021, has risen to N178 billion from N129.94 billion.

“It was on December 31, 2020, according to the data released by DMO. It also revealed that the state government’s foreign debt stood at $85.27 million (N35.46 billion) and N142.56 billion for domestic debt,” he said.

The activist stated that the rising debt in just one year showed that something is definitely wrong somewhere and the people of Oyo State must ask the Governor how and what led to increase in the debt.

“It is so sad that after tremendous increase in Internally Generated Revenue (IGR). Oyo State is still among top 10 states in Nigeria with highest domestic debt at N142.56 billion,” he said.

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