Gov. Seyi Makinde of Oyo State has approved N63 billion for a complete renovation of the State Government House.
Speaking on Friday during the Oyo State House of Assembly’s second anniversary, Makinde explained that the high cost was driven by foreign exchange fluctuations beyond the state’s control.
Nonetheless, he assured that his administration will act in the state’s best interest, regardless of prevailing challenges.
He said, “We are moving forward. When people see such big figures, they may ask, are we spending dollars here?”
Makinde explained that significant imports are involved, even for constructing one kilometre of road, as Nigeria does not produce asphalt locally.
He noted that Nigeria has the world’s second largest bitumen deposit, yet must still import materials.
The governor said criticism is welcome, and his administration remains open to correction if it makes any mistake.
Makinde also referred to a $200 million loan secured for the Ibadan Urban Flood Management Project by the previous administration.
He explained that monthly servicing of the loan rose from N700 million to N3 billion due to currency fluctuations.
In spite of the financial burden, he said his government has achieved progress in security, healthcare, agriculture, and infrastructure.
Makinde revealed plans to acquire two aircraft for aerial surveillance and security operations across the state.
He said the aircraft align with broader strategies to secure lives and property throughout Oyo State.
The governor commended the 10th Assembly for its consistent support in delivering good governance to the people.
