Oyo state governor, Seyi Makinde, on Friday justified the N63 billion budgeted by his administration for the overhaul of the State Government House in Agodi, Ibadan.
The governor spoke in obvious response to the criticisms and controversies over the budget for renovation, which many critics described as humongous.
But speaking while addressing the Oyo State House of Assembly on its second anniversary on Friday, Makinde said the renovation cost was high due to fluctuating foreign exchange rates.
He added that the exchange rates are outside the state’s control.
According to him, the responsibility for currency exchange rates lies solely with the Federal Government.
But the governor assured that his administration will act in the state’s best interest, regardless of prevailing challenges.
Makinde said, “We are moving forward. When people see such big figures, they may ask, are we spending dollars here?”
He further explained that significant imports are involved, even for constructing one kilometre of road, as Nigeria does not produce asphalt locally.
He noted that Nigeria has the world’s second largest bitumen deposit, yet must still import materials.
The governor said criticism is welcome, and his administration remains open to correction if it makes any mistake.
Makinde also referred to a $200 million loan secured for the Ibadan Urban Flood Management Project by the previous administration.
He explained that monthly servicing of the loan rose from N700 million to N3 billion due to currency fluctuations.
In spite of the financial burden, he said his government has achieved progress in security, healthcare, agriculture, and infrastructure.
Makinde revealed plans to acquire two aircraft for aerial surveillance and security operations across the state.
He said the aircraft align with broader strategies to secure lives and property throughout Oyo State.
The governor commended the 10th Assembly for its consistent support in delivering good governance to the people.
(NAN)
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