Oyo state governor, Engr Seyi Makinde has explained that the N7.6 billion loan approved to access by the Oyo State House of Assembly was borrowed by Ajimobi-led administration.
On Thursday, InsideOyo.com reported that the state lawmakers approved access to the loan for Governor Makinde amid grumbles and grievances.
In a post on social media, the governor said he had applied at the Oyo State High Court to get an injunction restraining the previous administration from accessing these funds, a few days to the end of their tenure.
He said “Today, we recorded another victory for our people as the Oyo State House of Assembly approved immediate access to N7.6B meant for the development of farm estates in Akufo and Eruwa farm settlements in Oyo State.
” This brings a logical conclusion to a battle that took us from the judiciary to the legislature. Before assuming office in May 2019, I had applied to the Oyo State High Court to get an injunction restraining the previous administration from accessing these funds, a few days to the end of their tenure
“The previous administration borrowed the money from the CBN for the purchase of “agricultural equipment” which they wanted to purchase towards the end of their tenure. Oyo State has already started repaying this loan which we have been unable to access until now.
“The farm estates will serve as pilots of our Private Public Development Partnership (PPDP) Farm Estates and will eventually generate funds to develop the other seven farm settlements in Oyo State. This is a deliberate plan aimed at creating sustainable development in the state.”
The Speaker of the Oyo State House of assembly, Rt. Hon. Adebo Ogundoyin assured that the selected farm settlements to enjoy the facility would only serve as pilot projects for the development of other farm settlements.
The Speaker assured that the selected farm settlements to enjoy the facility would only serve as pilot projects for the development of other farm settlements.
He added that other states have been enjoying this long before the current administration in the state.
“Other states have been accessing this agriculture facility, especially in the North. But we thank God the state government is ready to work with the federal government and provide counterpart funding to show commitment to this project.
“We know that the CBN and federal government are interested in agricultural development and this is a blessing to Oyo state. Moreover, our own goal is to develop the state through agriculture.
“If we decide to spread the money as requested by some lawmakers, we might end up not achieving anything and have abandoned projects.
“So why have abandoned projects when we can have completed projects that are working and running. These two projects can be the engine room for the other projects.
“We are taking the projects one at a time. If we can achieve two projects out of seven then for the remaining five, we do another two next year and thereafter, then we will be able to make progress,” he added
