News

Oyo is technically bankrupt, says Makinde

Published

5 years ago

July 3, 2019

Governor Seyi Makinde of Oyo State on Tuesday said the state was technically insolvent .

Makinde made the declaration while receiving in audience members of the Governing Council of the University of Ibadan , led by the Pro – Chancellor of the institution and Chairman of Council, Dr Waklek Mutka , who were on a courtesy visit to his office in Ibadan .

He said , “ When I came in , we were looking for ways to keep the government running because technically the government of Oyo State is bankrupt .

“ If I take it as a private entity , I won ’ t lend a dime to the government of Oyo State . I will ask them to start winding up proceedings . So, we have been looking for ways to keep the government running .
“ We have been beaming our searchlight on areas we can get money . The Bureau of Internal Revenue came to me and said they had issue of PAYE with the University of Ibadan . ”

He added , “ At the governor ’ s forum , I saw a document where many of the states got huge refund from PAYE due to the federal institutions located in such states. I believe Ogun State got about N 8 bn ; another state in the South West got N 10 bn ; and Oyo State got only about N 91 m .

“ Then , I wondered what was going on here . They told me there was work in progress and that they had been talking but did not have cooperation from the University of Ibadan .
“ I can give you the assurance that this is something for the Federal Government to refund to us . All we need to do here is open the books and see what has gone on and have an agreement . I told the chairman of Bureau of Internal Revenue that he and I will meet with the University of Ibadan to get money . We will utilise such money immediately to do things that will lift our environment . ”

Makinde , however , stated his administration ’ s determination to collaborate with the university in the area of Public – Private Partnership to create a synergy between the institution and the government .

“ 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 and for us , there should be a serious synergy between the academia and the government because majority of very good research outcomes stay on the shelf in the university . We want those to come out for us to work together to utilise those research outcomes to better the lives of our people , ” he said .
Earlier in his remark , the Pro – Chancellor of the university and Chairman of the Governing Council , Dr Waklek Mutka , expressed appreciation to the governor for donating N 25 m towards the rehabilitation of facilities in the institution destroyed by rainstorm on March 9 even as a governor -elect then .

“ Your magnanimity is unprecedented and we believe the university will continue to enjoy the full support of the government . It is hoped that your administration will ensure that we have an environment that will guarantee peace and stability , ” he said .