The Senator Sharafadeen Alli Campaign Organisation (SSACO) has condemned Governor Seyi Makinde’s decision to proceed with securing a fresh N100 billion loan, despite earlier warnings against reckless borrowing in the twilight of his administration, describing the development as an alarming demonstration of fiscal irresponsibility and political desperation.
The SSACO warned that the Oyo N100bn loan will place an intolerable burden on the state’s citizens.
Allegations of Political Motives in Governor Seyi Makinde Borrowing
In a statement signed by Bisi Oladele, Director of Media and Publicity, the group criticised the speed with which the Oyo State House of Assembly granted the approval. The Alli Campaign Organisation stated that the rapid clearance indicates a deliberate attempt to bankrupt the state for the incoming administration and mortgage the state’s future.
“There is no doubt that the proposed borrowing was not driven by any genuine developmental consideration but by a desperate political agenda to finance the 2027 elections and sustain Governor Makinde’s increasingly uncertain political ambition. The governor’s determination to plunge Oyo State further into debt, even as his administration approaches its terminal date, raises serious questions about his intentions and the financial burden he is preparing to leave behind for the incoming government,” the statement said.
Growing Concerns Over Oyo State Financial Debt
According to SSACO, Governor Makinde realizes his presidential ambitions hold little chance of success, while his preferred successor faces widespread rejection from the public.
“Governor Makinde knows that his presidential ambition is a political misadventure waiting to happen. He also knows that the political stooge he is desperately trying to impose on the people of Oyo State cannot win the governorship election. Rather than accept these realities and concentrate on finishing his tenure responsibly, he appears determined to mortgage the future of our state to finance an electoral project that is destined to fail.
“We are convinced that this N100 billion loan is not about building roads, improving hospitals, strengthening education or creating jobs. We suspect that it is about financing elections, sustaining a collapsing political structure and prosecuting the governor’s desperate succession agenda at the expense of generations of Oyo State citizens.
“The SSACO is more than convinced that the governor’s latest borrowing initiative reflects growing desperation within an administration increasingly confronted by political uncertainty, declining public confidence and the steady erosion of its support base.
“The economic justification for obtaining another N100 billion loan at a time when the state is already grappling with substantial debt obligations and when the administration has barely seven months left in office is questionable.” The statement added.
Scrutiny of Legislative Oversight Regarding the Oyo N100bn Loan
The statement heavily criticized the Oyo State House of Assembly, accusing lawmakers of rubber-stamping executive requests without proper legislative oversight or public consultation.
“The House of Assembly must understand that its constitutional responsibility is to protect the interests of the people, not merely to provide legislative cover for the financial excesses of the executive. Approval by the legislature does not automatically confer economic wisdom, transparency or public interest on a borrowing decision,” the campaign organisation said.
Alli Campaign Organisation Vows Resistance to Unchecked Debt
The SSACO declared that the All Progressives Congress (APC) will actively oppose converting public loans into political funding, emphasizing that public resources must never serve as private political funds.
“Governor Makinde may have seven months left in office, but he does not have the moral licence to commit future generations to unsustainable financial obligations merely to advance his political interests. His tenure will end, but the debts he accumulates could remain with our people for decades,” the statement further added.
The group added that debt would not halt opposition momentum in Oyo State.
“He cannot borrow his way into the presidency, neither can he borrow his preferred candidate into the Government House in Agodi. The people of Oyo State will determine their next governor through their votes, not through the financial desperation of an outgoing administration.
“We are putting the governor, the House of Assembly and every prospective lender on notice: the next administration will have both the responsibility and the right to subject questionable financial commitments to lawful and comprehensive scrutiny. Legislative approval will not shield anyone from accountability where wrongdoing is established.
“Oyo State is bigger than Governor Makinde, bigger than his political ambitions and certainly bigger than his preferred successor. He must stop this reckless borrowing spree, abandon any attempt to mortgage the future of our people and prepare to hand over a financially viable state in May 2027.
“The people of Oyo State will not forgive any deliberate attempt to sacrifice their future on the altar of political desperation,” the statement concluded.
