Makinde’s plethora of debts: Lest Oyo become another national embarrassment by Sola ABEGUNDE
Sola Abegunde is a national affairs commentator. Views expressed here are his.
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The unfortunate misdeeds of a former governor of Ogun state has resulted in an embarrassment for the whole nation.
Nigeria is currently being hounded and embarrassed all over the globe by a Chinese company, not the Chinese government, as a result of some transactions that went sour between it and the government of Ogun state under former Governor Ibikunle Amosun.
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I do not intend to go into the nitty-gritty of the arrangements and the alibi of the former governor. Both are already public knowledge.
The reality that however stares us in the face today is that the Chinese company, as a result of the failed transactions between it and the government of Ogun state has secured a court judgment that allows it to embarrass the country.
I have been very uncomfortable with the incessant borrowing policies of Governor Seyi Makinde of Oyo state and the fact that stakeholders like the press, analysts and commentators have seen no reason so far to be alarmed at the unprecedented rates with which the debts profile of the state keeps dangerously increasing.
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Of greater concerns is the fact that statistics have shown that Oyo state is not meeting up with the target IGR performance as budgeted.
The Ogun state fiasco has just reawakened my consciousness to the dangers of deals between state governments and investors, most especially, foreign investors.
It has reawakened my consciousness to raise public attentions to the dangers of incessant borrowings by Governor Makinde.
We all in Oyo state have to be worried. Not only worried, but we must start to demand accountability from the governor.
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The way and manner the Oyo State House of Assembly has been approving loans upon loans for the governor without any reports of oversight on the performance and compliance level of previous ones is alarming.
The Oyo State House of Assembly under the present speaker has shown that it is incapable of demanding accountability from the governor.
The hasty manner with which the Oyo Assembly approves loan requests from the governor leaves so much to be desired.
As we speak, only the governor and perhaps, the Oyo State House of Assembly can say the actual amount of money Governor Makinde has taken as loans since he became governor in 2019 if the assembly has not lost records.
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Apart from the direct loan facilities, Governor Makinde has also involved a lot of private partners in facilitating certain infrastructures like roads.
Who are this private partners and what are the terms of the agreement between the state and the private partners?
A lot of foreign investors have besieged our farm settlements and from available information, many are still coming.
In fact, Governor Seyi Makinde just added some flavors to his love for foreigners by appointing a lady from Botswana to serve in his government.
I have no problems with that. My only concern is, what are the terms of agreement with these foreigners who have kept besieging our terrains?
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Governor Dapo Abiodun of Ogun state just demonstrated how to maximize the opportunities provided by agriculture to produce 20,000 bags of rice within 3 months without much ado.
Governor Makinde has converted a loan of about 7.5 billion naira processed by the government of Ajimobi to his agri-business ventures even though we have not gotten a single basket of tomatoes belonging to Oyo state government from it.
He has taken a loan of about 15 billion naira to construct garages that he claimed are bringing in about 60 million naira monthly and despite the fact that the constitution of Nigeria has placed the responsibilities of managing parks and garages under the local governments.
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He took 5 billion naira on Agbowo Shopping Complex for a lease that runs for fifty years, even though, the complex has remained an eyesore.
He has sold out most of the government lands to unknown estate developers despite the hues and cries from the citizens of Oyo state.
Recently, an undisclosed amount of billions of naira became a subject of arguments between Governor Makinde and the federal government.
I appreciate Governor Makinde for allowing us to know that the said money in disputes is not a grant but yet, another loan which the federal government ” merely helped to facilitate”.
However, Governor Makinde forgot or neglected to inform the public how much he collected and what he did with it unlike his Nassarawa state counterpart, Governor Sule who openly declared that he collected 58 billion naira and that he used same to offset an earlier loan collected by his predecessor.
Governor Seyi Makinde is gradually cruising to the end of his eight years tenure.
We all know that once two years of a four year tenure expires in Nigeria, it is much of politics and less of governance.
Governor Makinde equally agreed to this, when, during the commissioning of a project in Oluyole, he said he would dedicate the third year of his second term to politics.
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However, before Governor Makinde comes out to do his politics, be it for himself, because I heard he is interested in becoming the president of Nigeria, or be it for the one he wishes to place on his seat after him, he will do himself and of course the good people of Oyo state a lot of good by telling us the debts profile of the state and his plans to pay these debts before he leaves office.
I agree that governance is a continuum and that those loans could exceed Governor Makinde’s term in office.
However, there must be a concrete process of repaying them and that is the minimum standard expected of the governor.
It will not be enough for the governor to tell us in clear terms how much he has committed the state to debts, it is also imperative for him to let the public know the terms of the various agreements he has with the creditors either as direct loan facilities or as private partners.
Whatever he did in respect of the agreements with the House of Assembly cannot be trusted.
At best, it is an arrangement between a master and a captured set of individuals.
Those ones are representing no one but themselves.
I must conclude by charging stakeholders, especially the press to put this governor on the hot seat with respect to the debts profile of the state.
May Oyo state not become another national embarrassment.
