Oyo’s Assets and Liabilities: The Unanswered Questions of Governor Makinde | By Azeez T
Governor Seyi Makinde swept into office in 2019 with the aura of a wealthy businessman who did not need Oyo State’s money. He declared assets worth billions and promised to govern with integrity. Six years later, that image is cracking—replaced by growing anger over a questionable debt burden, controversial land sales, and a lack of transparency that betrays the trust of Oyo State’s citizens, especially the stakeholders who supported his rise to power.
Makinde’s initial asset declaration was bold. But what has happened since then? Why has he refused to update the public on his wealth? For a leader who controls the purse of a state like Oyo, silence is not golden. It breeds suspicion—particularly given his antecedents as a vibrant critic of his predecessor. Has his fortune mysteriously expanded while Oyo’s people struggle with poverty and crumbling infrastructure? These are the questions many citizens are now asking.
Under Makinde, government land—Oyo’s heritage—has been alleged to be parcelled out like private property. From BCOS staff quarters to Trans Amusement Park, Agodi Gardens reserve (which plays a vital ecological role around Bodija Estate), Agodi Secretariat, Oremeji–Mokola and its environs, parts of Akufo farm settlement, and more—this administration has overseen widespread allocations. Who are the beneficiaries of these sales? Why are the transactions hidden from public scrutiny? What role does the Ministry of Lands play in these questionable deals? Land is the inheritance of future generations, yet this government treats it as a cash cow. The result is that Oyo is being stripped of its assets while citizens watch helplessly.
Meanwhile, the state’s debt profile has ballooned under this leadership, even as visible development falls below expectations. Where are the community roads linking major highways? Where are the promised hospitals, primary healthcare centres in every ward, and functional schools? What has become of investments in agriculture, food security, and water supply? Billions have been borrowed, yet much of the money appears to vanish into recurrent spending and poorly executed projects. At the start of his administration, fire equipment was promised and even showcased. Six years later, the fire service remains in a state of neglect.
Makinde promised openness, but his government is shrouded in secrecy. Detailed financial reports are rare. Independent audits are muted. Citizens are left guessing how their resources are managed. This is not the governance of a technocrat—it is the governance of a man more concerned with consolidating power than safeguarding the people’s wealth. Once salaries are paid, the government appears to believe nothing else should matter.
The governor may insist he has invested in education and infrastructure, but history will not judge him by speeches. It will judge him by the debts left behind, the land sales carried out under his leadership, and the opportunities squandered.
Oyo deserves a leader who will build the future, not auction it. Makinde’s legacy is fast becoming one of financial recklessness wrapped in a polished, innocent outlook. The people of Oyo must demand answers—because silence is no longer an option.
