N300b Loan: Our work a full time job, not a part time job— Oyo House Majority Leader

The Majority Leader of the Oyo State House of Assembly, Hon. Sanjo Adedoyin, has reiterated that being a member of the House is a full-time job, not a part-time endeavor. 

Citing Section 4 of the Nigerian Constitution, he noted that the House is the supreme law-making body responsible for peace and good governance.

He stated this during a radio appearance on Honor 103.5fm which was monitored by MOUTHPIECE NGR on Thursday.

Adedoyin explained that lawmakers’ duties include representing their constituents through motions, bringing government attention to their needs, and approving budgets and bills. 

He highlighted the recent approval of a ₦300 billion loan, underscoring the lawmakers’ role in ensuring effective governance.

Sanjo who said part of the duties of a lawmaker is to screen commissioners, and other governor’s nominees, is also to approve budget, bills among others. 

When asked about the House’s role in the recent ₦300 billion loan, the Majority Leader explained that the House approved a supplementary budget to complete ongoing projects. He stated that the emergency meeting was necessitated by the Governor’s planned annual leave and the need to transmit power to the Deputy Governor.

Adedoyin emphasized that the ₦300 billion is not a fresh loan, but rather a refinancing of existing loans taken in 2023. He explained that the state government had initially borrowed ₦100 billion from Afrixbank and ₦50 billion from UBA on 27, December 2023, but due to changes in the Central Bank’s interest rate policy, the loan terms became unfavorable, leading to termination.

The Majority Leader noted that the loan is intended to complete critical infrastructure projects, including the Ibadan circular road, Ido-Eruwa road, Saki-Ogbooro-Igboho road, and Ogbooro-Agboole road, among others, stressing that the loan is necessary to avoid project abandonment and ensure timely completion.

According to Adedoyin, without the loan, project costs would balloon due to variations, potentially doubling initial estimates (e.g., a ₦10 billion project becoming ₦20 billion). He emphasized that the government aims to complete ongoing projects without abandonment.

The Majority Leader noted that the loan’s repayment period falls within the current administration’s tenure, ensuring no debt burden on future governments. He added that the House carefully considered the loan’s purpose and will monitor its usage for ongoing projects, highlighting the positive impact of infrastructure development on Oyo State.

Regarding criticism from a fellow lawmaker, Adedoyin explained that loan approval requires a different threshold (one-third majority, or 11 members) than financial bills (two-thirds majority).

Adedoyin noted that the lawmaker from Saki West constituency was playing to the opposition’s script by criticizing the government. He pointed out that the lawmaker wasn’t even in Nigeria when an oversight function was conducted two months prior to the emergency recess, and therefore couldn’t have participated.

The Majority Leader disputed the lawmaker’s claim that the loan approval was secretive, stating that the process was transparent and properly communicated.

He further criticized Hon. Yusuf’s claims as baseless and misleading, stating that the lawmaker’s absence from oversight functions and lack of participation in House activities undermined his credibility. 

He noted that other APC members in the House had participated in oversight functions and wouldn’t dispute the proper communication for the emergency recess.

The Majority Leader however highlighted his own productivity, having moved over 20 motions, and compared it to the lawmaker’s single motion since his election unlike other new members like Hon. Babalola from Ibadan Southeast and Hon. Lukman from Igboho who have moved about 10 motions. 

 He questioned the lawmaker’s understanding of the ₦300 billion loan, its purpose, and repayment terms, given his lack of participation in the House.

Adedoyin also revealed details about a separate loan of 55 million euros from France, which he described as grant-like with zero interest after a 15-year moratorium. 

He explained that 80% of the loan would be used for healthcare equipment, repayable over 45 years, with only 20% of the loan potentially being paid if spent judiciously. He attributed the state’s access to this loan to Governor Seyi Makinde’s leadership and focus on healthcare.

Adedoyin however praised Governor Seyi Makinde for his six-year recruitment drive, noting that the administration also took over LAUTECH, resolving the institution’s crisis and transforming it into a conventional university. 

He highlighted the government’s efforts in connecting zones with road infrastructure and other development projects.

The Majority Leader further commended the governor for boosting the state’s internally generated revenue (IGR) from ₦1 billion to ₦6 billion without increasing the tax burden on citizens. He equally credited the government for blocking revenue loopholes and deserving commendation for its achievements.