The controversy over Oyo State Governor Seyi Makinde’s proposed N100 billion loan has triggered a fresh political confrontation between the camp of All Progressives Congress (APC) chieftain Senator Sharafadeen Alli and the governor’s administration, with both sides trading accusations over borrowing, political ambitions and the 2027 elections.
The Senator Sharafadeen Alli Campaign Organisation (SSACO) has accused Makinde of putting the state’s financial future at risk by pursuing additional borrowing towards the end of his tenure, alleging that the move could be intended to finance his presidential ambition and secure the emergence of his preferred successor, Hon. Bimbo Adekanmbi.
But the governor, through his spokesperson, Dr Suliaman Olanrewaju, dismissed the allegations as baseless, insisting that Makinde’s presidential ambition under the Allied Peoples Movement (APM) is driven by a national vision rather than the political calculations attributed to him by his opponents.
In a statement issued by its Director of Media and Publicity, Bisi Oladele, SSACO described the proposed borrowing as fiscally irresponsible, questioning the economic justification for obtaining another N100 billion loan with about seven months remaining before the administration is expected to hand over power in May 2027.
The organisation also criticised the speed with which the Oyo State House of Assembly approved the loan request, arguing that lawmakers had a constitutional responsibility to scrutinise borrowing proposals and protect the state’s long-term interests.
It alleged that the proposed facility could leave the incoming administration with a heavier debt burden and limit its capacity to deliver development projects.
“There is no doubt that the proposed borrowing was not driven by any genuine developmental consideration but by a desperate political agenda to finance the 2027 elections and sustain Governor Makinde’s increasingly uncertain political ambition,” the campaign organisation said.
SSACO questioned whether the loan was necessary at a time when the state was already facing substantial debt obligations, arguing that its timing demanded greater transparency and public scrutiny.
It further alleged that the borrowing could be used to sustain the governor’s political structure and support his succession plans, although the statement did not provide evidence establishing that the proposed funds would be deployed for partisan purposes.
The organisation warned that the state’s borrowing powers should not be used to advance the interests of any individual or political party, insisting that the consequences of additional debt could extend beyond the current administration.
It also put the state government, the House of Assembly and prospective lenders on notice that the incoming administration would be entitled to subject questionable financial commitments to lawful scrutiny and pursue accountability where wrongdoing was established.
SSACO maintained that legislative approval alone did not establish the economic justification or public-interest value of a loan.
The organisation equally rejected the prospect of Makinde securing the presidency or installing Adekanmbi as governor through financial and political manoeuvres, insisting that voters would determine the outcome of the 2027 elections.
However, the governor’s camp countered that the criticism was politically motivated and reflected anxiety within the opposition over Makinde’s growing national profile.
In his response, Olanrewaju described SSACO’s allegation that the governor was pursuing a presidential ambition to undermine other candidates as misplaced, arguing that it was unsupported by facts.
He said Makinde’s presidential bid was aimed at addressing Nigeria’s challenges and building a country that works for all citizens, adding that the governor’s record of engagement, bridge-building and issue-based governance informed his national aspirations.
The spokesperson also challenged the opposition campaign organisation’s assertion that Makinde had little chance of defeating the incumbent president, questioning why it continued to devote attention to the governor if his candidacy was politically insignificant.
Olanrewaju similarly defended Adekanmbi, the APM’s governorship candidate in Oyo State, arguing that the repeated criticism directed at him by SSACO reflected political apprehension rather than confidence.
He maintained that Makinde’s engagements with Nigerians across different regions were centred on national issues, including stability, competence and effective governance.
According to the spokesperson, the governor remained committed to his presidential campaign despite what he described as attempts by political opponents to distract from the issues driving the contest.
The exchange underscores the intensifying political contest in Oyo State ahead of the 2027 general elections, with questions surrounding public borrowing, fiscal accountability, presidential ambitions and the choice of the next governor increasingly becoming subjects of partisan debate.
While SSACO has demanded that Makinde reconsider the proposed N100 billion loan and provide assurances about the state’s financial position before leaving office, the governor’s camp has focused its response on defending his political ambitions and challenging the motives behind the criticism.
