N96b Stolen By Ajimobi Govt To Be Repaid -Makinde

Oyo State Governor, Engineer Seyi Makinde, said on Wednesday, that his administration was ready to retrieve the billions of the state’s funds looted by officials of the previous administration.

Makinde who said an estimated N1 billion was stolen monthly during the Abiola Ajimobi administration disclosed that anti-graft agents would soon be on the trail of the officials involved.

The governor, who made the vow while  kickstarting the construction of the 21km Ajia-Airport-New Ife Expressway road, in Ajia town, said that his administration was ready to put measures in place to retrieve all looted funds to develop the state’s  infrastructure.

According to the governor, unlike the previous government, which, he said,  preoccupied itself with how to corner the state’s funds on a daily basis, his administration would drastically reduce the infrastructure deficit in the state within the shortest possible time.

He added that it’s only in doing so that the state can be positioned on the path of economic growth.

A statement by the Chief Press Secretary to Governor Makinde, Mr. Taiwo Adisa, quoted the governor as saying that the 21-kilometre road construction being launched was a product of the administration’s strategic way of reducing the state’s infrastructure deficit, which is known as the Alternative Project Funding Approach (APFA).

The governor also used the opportunity to explain the APFA approach through which he said many projects will be executed in the state, stating that it is the administration’s way of funding some infrastructural projects in the state, by having the contractors fund the projects with their own money while the state repays them over a period of time.

“What this entails is that the contractor carries the projects’ risk. At the same time, we get quality delivery and quick completion of projects. They will be bearing the risk of getting this project done in a timely manner,  while we pay them over the next twenty-nine months. That comes down to roughly N300 million a month. So, while they will complete the project in one year, we have the option to repay in over twice the time.

Addressing the criticisms trailing the announcement of N100 billion bond issuance by the state, the governor stated: “I heard somebody criticizing us on radio concerning the N100 billion bond and was of the opinion that this administration wants to put the state in debt. I think our people need to start telling them that Governor Makinde is not like that.  For the period of eight years they spent in office, they were only preoccupied with how to corner N1 Billion monthly into their private pockets everyday they went to the office.

“They spent 96 months in office, that means they have Oyo States N96 billion with them. We will retrieve every fund that belongs to Oyo people for the purpose of infrastructure development.

 “So, tell them that the EFCC of Oyo State is coming for them. I want to assure you that we will retrieve the stolen money of the state from them and use the funds to build infrastructure like this.”

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