Oyo State Is Technically Bankrupt

Oyo State Is Technically Bankrupt - Makinde

Few days after declaring that the state is indebted to the tune of at least N150billion, the Executive Governor of Oyo State, Engr.Seyi Makinde on Tuesday said the state government is technically bankrupt with his administration still looking at ways to salvage the situation and run the government.

Makinde said the situation is so critical that, if the state was to be a private entity, he won’t lend a dime to the state government but would advise them to start winding up proceedings.

This is as he also promised to make a pronouncement on how to turn around the hitherto moribund Agbowo shopping Complex which he described as eyesore and security threat to both the university and neighbouring communities within the first 100 days of his administration so that it would be of benefit to the state in general.

The governor made the revelation while playing host to the members of the Governing Council of University of Ibadan who were in his office on a courtesy call.

Noting that UI is an important member of the community, the governor said his government will collaborate with the institution especially in the areas of Public-Private Partnership which will endear a kind of synergy between academia and the government.

Governor Makinde appealed to the visitors to ensure that many of the research outcomes on the university shelves are brought out to the government to be utilized to better the lives of the people.

He said “The University is a very important member of this community. We will like to collaborate with the university especially in the area of Public-Private Partnership (PPP) and for us, there should be a serious synergy between the academia and the government because the majority of the very good research outcomes stay on the shelf in the university.

“We want those to come out for us to work together to utilize those research outcomes to better the lives of our people. The government of Oyo state is keen and ready for such a partnership.

“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.

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