BREAKING: Oyo Lawmaker Raises Alarm Over ‘Secret’ Approval of Makinde’s N300bn Loan

A member of the Oyo State House of Assembly, Hon. Shittu Ibraheem, has faulted the approval of a N300 billion loan allegedly obtained at the instance of Governor Seyi Makinde.

Ibraheem, who represents Saki West constituency under the platform of the All Progressives Congress (APC), claimed the loan was approved on August 19 and finalised on August 26, 2025, during what he said was an emergency sitting.

In a statement issued on Wednesday, the lawmaker distanced himself from the process.

According to him, he was not part of the lawmakers who granted the approval.

“The House has been on a six-week recess from July 31 to September 16, 2025. Yet, an emergency plenary session was convened to approve this loan without proper communication to all members,” he said.

Ibraheem further questioned the rationale behind the borrowing, pointing out that Oyo State has enjoyed an increase in revenue allocations.

“With about a 500 percent rise in FAAC receipts, why take this loan? Why was it treated as an emergency, and why were all members not duly informed?” he queried.

Governor Makinde, under whose administration the loan was processed, is widely speculated to be eyeing a presidential run on the platform of the Peoples Democratic Party (PDP).