Contrary to the rumours being peddled by some online news websites that the current Oyo State Administration, led by His Excellency Governor Seyi Makinde has accumulated a loan of 156 Billion Naira in 2 years, Oyo Truth has gathered enough evidence to debunk this uncalled for and totally unnecessary false news.

The Oyo State House of Assembly currently approved a loan of Six Billion Naira, which has sparked some rumours and this premise is now used to peddle lies. According to the press release by the Debt Management Office Nigeria, the summed up loan to Oyo State as of March 31st, 2021 is at NGN91,954,231,316. The possibility of it been summed up to N156 Billion at the time of the released publication is therefore impossible.

Another false news making the rounds is that of an additional N50 Billion loan contrary to this assertion the N50 billion is a supplementary budget for the year 2021.

According to the Governor “the N50 Billion will be provided by the Central Bank of Nigeria under the Differentiated Cash Reserves Requirement, DCRR, of which the House of Assembly Authorized 10 Billion” Makinde said

The N50 Billion Supplementary Budget, According to Makinde, will cover three massive projects that were not included in the approved 2021 budget.

While we all are anxious as to the state of the economic welfare of our beloved State, we however need not allow panic cause us to promote false news.

It is important to note that without adequate funds, improving the infrastructure of the state will be impossible.The present Administration in Oyo State has achieved notable and visible structures as evidence of growth and development in the State.