HEADLINENEWS.NEWS | POLITICS & GOVERNANCE
Makinde Defends ₦63.4 B Govt House Renovation Amid Backlash
By Headlinenews.news Bureau | June 21, 2025
Oyo State Governor Seyi Makinde has publicly defended the ₦63.4 billion budget allocation for the complete renovation of the Agodi Government House—describing the cost as a necessary adjustment to exchange‑rate volatility and broader fiscal realities .
Governor’s Key Justifications:
The renovation cost reflects imported materials—such as asphalt—priced in foreign currency, not naira .
Makinde highlighted that servicing foreign debt increased from ₦700 million to ₦3 billion monthly due to naira depreciation .
This, he argues, limits the state’s fiscal flexibility and inflates capital projects.
“When people see such big figures, they ask, ‘are we spending dollars?’ said Makinde, emphasizing external economic pressures .
Criticism & Public Outcry:
The African Action Congress (AAC) branded the sum “an insult to the suffering masses,” noting it exceeds the healthcare budget by over ₦5 billion and is three times last year’s allocation .
Civil society voices called it extravagant given the state’s broader needs in health, education, and dilapidated infrastructure .
Context & Comparisons:
Globally, infrastructure costs tied to imports are typically audited with EIA and competitive bids.
Oyo’s situation—amid a fuel subsidy withdrawal and inflation above 30%—raises questions about equitable spending priorities.
What’s Next:
Governor Makinde assured lawmakers the government remains open to corrections based on fiscal oversight .
He also disclosed plans to acquire two aircraft for security surveillance and to fund the upgrade of Samuel Ladoke Akintola Airport .
Bottom Line:
Governor Makinde’s defense stresses economic pressures beyond his control, particularly currency depreciation and debt servicing. Yet with more pressing development needs across Oyo, many stakeholders demand better alignment between large-scale expenditures and urgent public services.
Headlinenews.news Special Investigative Report.
