GOVERNOR MAKINDE: “Oyo State Is Technically Bankrupt”

Oyo State Governor, Seyi Makinde, has said that the state is ‘technically bankrupt’ and that his administration was still looking at ways to salvage the situation and run the government.

Seyi said this on Tuesday when he received members of the Governing Council of University of Ibadan (UI) at his office.

His comments about the state’s treasury came two days after he revealed that the state was in debt of at least N150 billion.

“When I came in, we were looking for ways to keep the government running because technically the government of Oyo state is bankrupt. If I take it as a private entity, I won’t lend a dime to the government of Oyo State. I will ask them to start winding up proceedings.

“So, we have been looking for ways to keep the government running. We have been beaming our searchlight on areas we can get money,” Mr Makinde said.

He said the government would like to partner with the university in the area of Public-Private Partnership (PPP).

“The Agbowo shopping complex in front of the university is an eyesore. It is a lot of money that was sunk in there and we are not getting any value. As a matter of fact, that structure is a security threat to the university community.

“We are looking at it and I am sure before we mark our 100 days, there will be a pronouncement on how we intend to turn that shopping complex into something that brings benefit to the university community and residents of the state in general,” Makinde said.