01/09/2025
BREAKDOWN OF LOANS APPROVED FOR OYO STATE UNDER GOVERNOR Seyi Makinde
2019
Jul 2019 – ₦10bn (infrastructure loan). Approved by OYHA to fund priority infrastructure.
Oct 2019 – ₦7.6bn (CBN agriculture facility). To upgrade Akufo & Eruwa farm settlements into modern farm estates.
2020
May 19, 2020 – ₦20bn (contractor-financing facility). From First Bank to support priority projects amid revenue shortfalls; plus ₦2.5bn CBN health intervention for COVID-19 response & health upgrades.
Aug 24, 2020 – ₦100bn “Oyo Prosperity Bond.” For major infrastructure, incl. roads and works across the state.
Oct 2020 – ₦22.5bn (multi-purpose facility). For UBEC counterpart funding, SUBEB projects, health, and security/official vehicles.
2021
Aug 2021 – ₦6bn (credit facility). Approved by OYHA (report did not specify detailed line-items).
Oct 2021 – ₦18.7bn (FG bridge facility). Federal bridge loan to cushion financing gaps; approved at emergency sitting.
2022
Jun 2022 – ₦2bn (additional credit facility). Approved by OYHA (report did not specify detailed line-items).
2023
Apr 6–7, 2023 – ₦50bn (contract-finance facility). To fund new & ongoing road/infrastructure projects; 2–4% over 48 months.
May 24, 2023 – ₦2bn (Fidelity Bank facility). For infrastructure; repayable over 36 months from IGR.
Sept 6, 2023 – ₦50bn (revolving overdraft). For recurrent & capital expenditure; ~45-month tenor (reports cite ~21–25% rate).
2025
Mar 2025 (reported) – ₦200bn (new facility). Approval reported to refinance an existing commercial-bank loan.
Jul 14–15, 2025 – €55 million (French Treasury concessional loan). For Oyo State Healthcare Project VI (statewide health reforms).
Aug 19 & 26, 2025 – ₦300bn (alleged approval during recess). Contested. Opposition lawmaker Hon. Sh*ttu Ibraheem says the House secretly approved this in emergency sittings while on recess.