Under Ajimobi, Oyo state is going into paralysis over N155.9b debt – Makinde

A former gubernatorial aspirant, Engineer Seyi Makinde, has blamed the high debt profile of Oyo State on the profligacy of the current Oyo State administration.

In a statement released on Sunday by Makinde’s media office on a recent publication by the Bureau of Statistics, which puts Oyo states’ domestic debt at N115.9 billion, Makinde said Ajimobi’s second term is plagued by an appetite for domestic debt and high recurrent expenditure.

Makinde said Oyo’s debt profile continues to rise despite huge resources accruing to the state enough to move it from its condition.

He said this could plunge Oyo state to into economic paralysis if not checked.

The statement made available quoted the Debt Management Office records saying Oyo state owed N4.8 billion domestic debt in 2011 when Governor Ajimobi took over.

Engineer Seyi Makinde urged the people of Oyo state to be mindful of the forthcoming election in 2019 as Oyo state’s debt profile under Ajimobi skyrockets.