Oyo State Deputy Governor, Rauf Olaniyan, has said the monthly allocation from federal allocation and Internally-Generated Revenue (IGR) was not enough to undertake developmental projects in the state.
Speaking at his Jericho Ibadan residence, on Friday, Olaniyan said the monthly allocation received from Federal Government was decreasing daily, which made the state government to opt for borrowing to embark on some important projects.
It would be recalled that Governor Seyi Makinde decided to borrow some money and of recent, access a N100b bond to carry out some projects. While stating that the immediate past administration had access to a plethora of funds, Olaniyan disclosed there were Paris Club Refund, Excess Crude Account funds and some overpayment refunds, which enabled the Abiodun Ajimobi-led administration to embark on some projects.
He urged the people to continue to live in peace, as “Oyo State belongs to all of us,” adding: “if you see something that is good, tell us, if you see something that is bad, tell us…”