EXPOSED: How Gov Makinde’s N300bn loan ‘secret’ approval raises concern – Oyo lawmaker

A member of the Oyo State House of Assembly, Honorable Shittu Ibraheem, has expressed his objections to the approval of a loan amounting to N300 billion, which he claims was secured at the request of Governor Seyi Makinde.

Ibraheem, who represents the Saki West constituency under the All Progressives Congress (APC), stated that the loan was approved on August 19 and finalized on August 26, 2025, during what he characterized as an emergency session.

In a statement issued on Wednesday, the lawmaker disassociated himself from the decision-making process. He emphasized that he was not among the legislators who sanctioned the approval.

“The House has been in recess for six weeks, from July 31 to September 16, 2025. Nonetheless, an emergency plenary session was convened to approve this loan without adequate communication to all members,” he remarked.

Ibraheem further questioned the justification for incurring this debt, noting that Oyo State has experienced a significant increase in revenue allocations.

“Given a approximately 500 percent rise in FAAC receipts, what necessitates this loan? Why was it classified as an emergency, and why were all members not properly informed?” he inquired.

Speculation surrounds Governor Makinde, who is currently thought to be considering a presidential candidacy under the banner of the Peoples Democratic Party (PDP).