Oyo AAC Accuses Makinde Of Planning To Use Proposed N100bn Loan To Fund Campaign, Benefit Him | Sahara Reporters

The proposed loan, which is before the state House of Assembly for approval, is intended to fund the completion of ongoing projects across the state.

The African Action Congress (AAC) in Oyo State has accused Governor Seyi Makinde of planning to use a proposed ₦100 billion loan to finance political activities and secure personal benefits, describing the borrowing plan as a scam.

The party made the allegation in a press statement dated October 22, 2026, and signed by its Oyo State Chairman, Kayode Babayomi.

The proposed loan, which is before the state House of Assembly for approval, is intended to fund the completion of ongoing projects across the state.

However, the AAC said there were no significant ongoing projects in Oyo State to justify the borrowing, accusing Makinde of neglecting governance for more than six months while pursuing his presidential ambition and working to install a preferred successor.

“This is nothing but an attempt to plunge the state into perpetual debt,” the party said, adding that the loan would burden the next administration.

The AAC described the proposed borrowing as a calculated move by the outgoing administration to secure personal benefits rather than serve the interests of the state.

It also questioned the management of the state’s internally generated revenue, asking, “The same Makinde who constantly boasts about the state’s internally generated revenue IGR, where is the IGR going?”

The party urged members of the state House of Assembly to reject the loan proposal, saying their decision would reveal whether they were complicit in the move.

“Although we know the Assembly is in Makinde’s pocket, rejecting this proposal at this critical time will demonstrate whether or not they are complicit,” it said.

The AAC also reiterated its call on the Economic and Financial Crimes Commission (EFCC) to monitor the state’s expenditure, adding that Makinde would face scrutiny after leaving office.

The party called on residents and indigenes of Oyo State to oppose the proposed borrowing, warning that the next administration and the people would bear its consequences.

It further questioned the need for the loan, arguing that Makinde should allow his preferred successor to assume office and complete the projects the government claimed were ongoing.

“We maintain that this proposed ₦100 billion loan is nothing but a scam and must be rejected,” the statement added.