Oyo State Governor, Engr. Seyi Makinde, has disclosed that the state government is set to acquire two new aircraft to enhance aerial surveillance and security operations.
The Governor made the announcement on Friday while delivering his State of the State Address at the Oyo State House of Assembly in Ibadan.
Speaking to lawmakers, Makinde confirmed that the procurement of the aircraft is part of the administration’s wider security strategy and will also serve to commemorate Oyo State’s 50th anniversary, marking its creation from the old Western Region.
“These aircraft will strengthen our security framework and celebrate five decades of Oyo State’s existence,” he stated. He noted that the move reflects his administration’s commitment to safeguarding lives and property throughout the state.
The Governor also addressed the recent public criticism that followed the approval of ₦63.4 billion for the renovation of the Government House. He attributed the high cost to fluctuations in the exchange rate, which he said have had a significant impact on the state’s financial obligations.
Makinde clarified that the state is contending with an escalating burden of foreign debt repayments, which have surged from ₦70 billion to over ₦300 billion due to ongoing exchange rate volatility.
He traced the origin of the debt to a $200 million loan secured from the World Bank during the final months of the administration of his predecessor, the late Governor Abiola Ajimobi. At the time of the loan’s approval, the exchange rate was ₦350 to the dollar, giving a naira equivalent of approximately ₦70 billion.
“Today, because of the consistent depreciation of the naira since 2019, we are now servicing the same loan at a valuation exceeding ₦300 billion,” the Governor said.
“When we assumed office, the monthly repayment stood at ₦700 million. But as of now, we are required to pay ₦3 billion monthly,” he added.
Makinde voiced concern over the state’s lack of control over currency policies, stressing that exchange rate management falls solely under the jurisdiction of the Federal Government.
“As a sub-national, Oyo State has absolutely no control over exchange rate decisions. Yet, we are forced to factor them into our fiscal planning,” he said.
In response to the Governor’s address, the Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, noted that the Assembly has experienced marked improvements in staff welfare under Makinde’s leadership.
He commended the strong collaboration between the legislative and executive arms, describing the Governor’s open-door policy as instrumental to the state’s legislative progress.
“We have chosen cooperation over political division, and the results are evident in the policies we have shaped and the legislation we have enacted,” the Speaker said.
He reaffirmed the Assembly’s commitment to delivering impactful legislation, effective oversight, and responsive representation.
“We remain steadfast in fulfilling our constitutional mandate with sincerity, dedication, and accountability,” Ogundoyin stated. He also thanked his colleagues for their continued unity, professionalism, and commitment.
“As we look ahead, the next two years will present even greater challenges, and we must face them with renewed determination and purpose,” he concluded.
“This House belongs to the people of Oyo State. Their aspirations shape our deliberations, and their future drives our mission.”
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