Oyo spent N24.6bn from its resources on reconstruction, victims’ compensation – OYSG

…says FG N30bn remains untouched in dedicated account

The Oyo State Government, on Thursday, said that the N30 billion Federal Government’s intervention fund approved for the reconstruction of Old Bodija in Ibadan, the State Capital and surrounding areas following the January 16, 2024 explosion, remains untouched and in a dedicated account.

In a press statement issued in reaction to the allegation laid against Oyo State Government, alleging misappropriation of N50 Billion Bodija Explosion support by Ayodele Fayose, the Former Governor of Ekiti State and Oyo APC, the Oyo State Government explained that Governor Seyi Makinde formally requested Federal assistance shortly after the disaster, which claimed lives, destroyed properties, and displaced residents.

The press statement issued on behalf of the Oyo State Government and addressed by Musibau Babatunde, the Commissioner for Budget and Economic Planning, indicated that Governor Seyi Makinde wrote to President Bola Tinubu on January 19, 2024, detailing the emergency actions already taken by the State Government.

These included search-and-rescue operations using heavy equipment, full medical care for injured victims at State expense, deployment of ambulances and medical personnel, and provision of hotel accommodation for displaced residents.

Read also: Account for N50bn Bodija explosion relief fund or resign, APC tells Makinde

The governor also requested federal support for additional interventions such as debris clearance, structural integrity tests and demolition of unsafe buildings, compensation for affected property owners, reconstruction of Old Bodija and its environs, environmental impact assessment, expansion of emergency response infrastructure, and other logistics required to restore normalcy.

According to Babatunde, the State Government estimated the total cost of the interventions at N100 billion. However, the Federal Government approved N50 billion, specifically for the reconstruction of Old Bodija and surrounding communities.

Following the approval, a special Oyo State Government Infrastructure Support Account was opened with First Bank of Nigeria. Of the approved sum, N30 billion was released through the Central Bank of Nigeria on November 4, 2024.

The State Government disclosed that as of December 31, 2025, the N30 billion was untouched in the account, noting that interested members of the public may verify this information with the bank.

The statement explained that the Government deliberately refrained from accessing the funds because the remaining N20 billion balance had not been released by relevant Federal agencies nearly two years after the disaster, without any official explanation.

Explaining further that the State Government said it had independently borne the financial burden of emergency response and reconstruction efforts. As of January 1, 2026, Oyo State had spent N24.6 billion of its own resources on Bodija and surrounding areas. This includes N20.141 billion for infrastructure reconstruction and N4.085 billion paid as support and compensation to victims.

The Government also referenced documents released by a federal political agent and Ayo Fayose, which indicated that N915.5 billion was approved nationwide as intervention funds for States.

According to the documents, some States received as much as N150 billion, while Oyo State received one of the lowest allocations despite the scale of the Bodija disaster.

Addressing concerns about public disclosure, Oyo State Government stated that intervention funds were treated as capital grants and are subject to the normal budgeting and financial reporting process, noting that States are not required to make special public announcements upon receipt.

The statement reaffirmed the Governor Seyi Makinde-led Administration’s commitment to transparency and accountability, while cautioning against what it described as attempts by political actors to exploit the Bodija tragedy for personal or political gain.

The Oyo State Government expressed appreciation to residents for their understanding and support, assuring them that efforts would continue to secure the release of the outstanding N20 billion to fully address the damage caused by the explosion.

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