The Senator Sharafadeen Alli Campaign Organisation (SSACO) has condemned Governor Seyi Makinde’s decision to proceed with securing a fresh N100 billion loan, despite earlier warnings against reckless borrowing in the twilight of his administration, describing the development as an alarming demonstration of fiscal irresponsibility and political desperation.
SSACO, in a statement by Bisi Oladele, Director of Media and Publicity, said the speed with which the approval was granted by the state House of Assembly was indicative of a deliberate attempt to bankrupt the state for the incoming administration and mortgage the future of the state.
“There is no doubt that the proposed borrowing was not driven by any genuine developmental consideration but by a desperate political agenda to finance the 2027 elections and sustain Governor Makinde’s increasingly uncertain political ambition.
The governor’s determination to plunge Oyo State further into debt, even as his administration approaches its terminal date, raises serious questions about his intentions and the financial burden he is preparing to leave behind for the incoming government,” the statement said.
According to SSACO, Governor Makinde has become increasingly conscious of the political reality that his presidential ambition, if pursued, stands little chance of electoral success, while his preferred successor equally faces the prospect of overwhelming rejection by the people of the state.
In the words of SSACO: “Governor Makinde knows his presidential ambition is a political misadventure waiting to happen. He also knows that the political stooge he is desperately trying to impose on the people of Oyo State cannot win the governorship election.
“Rather than accept these realities and concentrate on finishing his tenure responsibly, he appears determined to mortgage the future of our state to finance an electoral project that is destined to fail.
“We are convinced that this N100 billion loan is not about building roads, improving hospitals, strengthening education or creating jobs. We suspect that it is about financing elections, sustaining a collapsing political structure and prosecuting the governor’s desperate succession agenda at the expense of generations of Oyo State citizens.
“The SSACO is more than convinced that the governor’s latest borrowing initiative reflects growing desperation within an administration increasingly confronted by political uncertainty, declining public confidence and the steady erosion of its support base.
“The economic justification for obtaining another N100 billion loan at a time when the state is already grappling with substantial debt obligations and when the administration has barely seven months left in office is questionable.”
It criticized the Oyo State House of Assembly for offering itself as a willing tool to endorse the governor’s borrowing requests without demonstrating sufficient independence or subjecting the proposals to rigorous public scrutiny.
“The House of Assembly must understand that its constitutional responsibility is to protect the interests of the people, not merely to provide legislative cover for the financial excesses of the executive.
“Approval by the legislature does not automatically confer economic wisdom, transparency or public interest on a borrowing decision,” the campaign organisation said.
The SSACO warned that the APC would resist any attempt to convert public borrowing into a financial war chest for partisan political activities, stressing that the resources and creditworthiness of the state must never be treated as the personal property of any governor or political party.
“Governor Makinde may have seven months left in office, but he does not have the moral licence to commit future generations to unsustainable financial obligations merely to advance his political interests. His tenure will end, but the debts he accumulates could remain with our people for decades,” the statement further added.
The campaign organization insisted that no amount of borrowed money could reverse the political momentum building against Makinde and his Allied Peoples Movement (APM) in Oyo State or compel the electorate to accept a successor imposed by the outgoing governor.
“He cannot borrow his way into the presidency, neither can he borrow his preferred candidate into the Government House in Agodi. The people of Oyo State will determine their next governor through their votes, not through the financial desperation of an outgoing administration.
“We are putting the governor, the House of Assembly and every prospective lender on notice: the next administration will have both the responsibility and the right to subject questionable financial commitments to lawful and comprehensive scrutiny. Legislative approval will not shield anyone from accountability where wrongdoing is established.
“Oyo State is bigger than Governor Makinde, bigger than his political ambitions and certainly bigger than his preferred successor. He must stop this reckless borrowing spree, abandon any attempt to mortgage the future of our people and prepare to hand over a financially viable state in May 2027.
“The people of Oyo State will not forgive any deliberate attempt to sacrifice their future on the altar of political desperation,” the statement concluded.