Oyo Govt Admits Being Broke, Says Only Borrowed Funds Can Ensure Projects Execution

Oyo State Governor, Engineer Seyi Makinde.

*says monthly allocation, IGR not enough

By; BAYO AKAMO, Ibadan

Deputy Governor of Oyo State, Engr Rauf Olaniyan has hinted that with its present financial situation, the state government cannot embark on any developmental project without borrowing.
Engineer Olaniyan made this known on Friday while speaking with newsmen  at his Jericho Ibadan residence.
According to the Deputy governor, presently,  the monthly allocation for Oyo state ” is not enough for the state to embark on developmental projects”, while it’s Internally Generated Revenue (IGR)  too  ” is not enough” and the monthly allocation the state is receiving from the federal government  decreasing on daily basis”.
“Allocation coming from Abuja cannot take us to any meaningful developmental level. If you look at this table, there are some things that are in the table that you may not see but in the table. If I write 66 and reverse it, it will be 99. The IGR is not increasing, the federal monthly allocation is decreasing on daily basis.” he said. 
Engineer Olaniyan noted that, “when late Senator Abiola  Ajimobi was in power, there was Paris club, there was excess crude oil money, there were some overpayment which Oyo state government was refunded. But, there is nothing like those money now. They are not even enough talkless of excess”.
” At that time, it was overflowing but, now it is not enough. That is the reason, government have to borrow money to embark on some developmental projects. The last administration does not need to borrow money then, because there was enough money, they have Paris club, excess crude oil and some overpayment refund which Oyo state government was refunded. There is nothing like that now”. 
Stressing that the Governor, Seyi Makinde decided to borrow some money due to the fact that the monthly allocation and the IGR were not sufficient to embark on some developmental projects in the state, the deputy said, “the man sitting on the table is the driver, he sees things that we don’t see. If you say that we don’t have to borrow, tell us the . native. He is the one driving us, and he will drive us to the promised land”.
“The people of Oyo state have elected us, they should give us the chance, we will not betray them. They should give us the support to deliver”. 
Engineer Olaniyan then urged the people of Oyo state to continue to leave in peace, by continuing  to leave in peace,” saying, ”  Oyo state belongs to all of us. As journalists, if you see something that is good, tell us, of you see something that is bad, tell us”.


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