N100bn Bond: Group Tackles Seyi Makinde Over Rising Debt Profile

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Stop playing game that will ruin Oyo state future, a group in Oyo State, MATOP tackles Seyi Mankide on the proposed N100bn bond.

A Sociocultural Group in Oyo State, MATOP has raised a fresh alarm over rising debt profile in Oyo state. The group in a statement signed and made available to Oduduwa News today by its leader, Temitope Aladegbowo said it is very concerned about the increasing rate of debt profile in Oyo State owing to the proposed N100bn bond.

The group in its statement read apart:

“Without fear or favour, we are using this medium to enjoin Oyo citizens to caution the present administration led by Governor Seyi Makinde to stop endagering the future of generation yet unborn in Oyo State with what we termed as excessive debt burden.

It has been revealed from our findings that most of the projects tied to the said N100bn bond are not productive and if care is not taken Governor seyi makinde may compound more on the financial problem rocking the State currently as a result of his inability to pay back”.

The group further averred that most of Governor Seyi makinde’s billions of naira massive projects in less than 2years in office are deceptive and fall below the rating of executive governor of Oyo State.

“In the business world, a project is viable when economic benefit outweighs its cost. “In future, the people of Oyo state will all bear the burden of the financial recklessness.

“Any intelligent man will wonder how a governor who criticized his predecessor on excessive loan burden could be acting against what he preached while seeking for governorship position.

“We don’t want to believe the insinuation from some quarters that the said asset declaration to the tune of N48bn was a ruse.

“We also condemn giving out contracts to non indigene as against the promise of the governor during electioneering time. This has negated his campaign promises of localizing the economy by patronizing indigenous contractors which will keep the local economy afloat”.

“It is on this note we are calling on Oyo State citizens to prevail on Governor Seyi Makinde to stop the process of obtaining the said N100bn prosperity bond”, said the Group.

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