The Oyo State chapter of the All Progressives Congress (APC) has condemned the express approval granted Governor Seyi Makinde to borrow N20 billion loan by the state House of Assembly.
It will be recalled that the assembly had on Tuesday approved the loan reguest by the governor.
According to the state government, the loan would be obtained from First Bank of Nigeria for building infrastructures.
The APC however escribed the development as a sour grape in the mouth of the people, adding that the government failed to release details, including terms of the loan and the projects it is intended for to the public.
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The opposition party in the state also accused Makinde’s administration of obtaining over N40 billion loan within 11 months, warning against plunging the state into bankruptcy.
The party, in a statement by its Assistant Publicity Secretary, Prince Ayobami Adejumo on Wednesday in Ibadan, the state capital, said that the development was a manifestation of the Peoples Democratic Party (PDP) administration’s resolve to subject the state to bankruptcy, thus bringing it down to her knees in no time, while the governor and a few people within the corridor of power must have succeeded in enriching themselves and some private institutions where they have interest.
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