The Oyo State Government has denied claims that it secretly received and spent N30bn from the Federal Government after the January 2024 Bodija explosion, saying the fund remains untouched as it awaits the release of the outstanding N20bn balance, and that special intervention funds follow budgetary processes and do not require public announcement upon receipt.
The clarification followed public reactions to comments made by former Ekiti State governor, , who alleged that Governor received N50bn from the Federal Government to support victims of the Bodija explosion and failed to properly account for the funds.
The explosion occurred on January 16, 2024, when a powerful blast hit the Bodija area of Ibadan, killing two people and leaving 77 others injured. Several buildings were damaged, with properties worth billions of naira destroyed across the neighbourhood.
Speaking in an interview obtained by Nigeria Startup News on Friday, Fayose challenged Makinde to explain how a N50bn intervention fund allegedly released by the Federal Government was spent. He also presented what he described as documentary evidence showing approval for a N50bn intervention package for Oyo State.
In response, Makinde, through a statement issued by his media aide, Sulaimon Olanrewaju, stated that although N50bn was approved, only N30bn was actually released to the state by the Federal Government.
The state government reiterated this position in a separate statement issued on Thursday, stressing that it received only N30bn and not the full approved amount.
The position of the government was contained in a joint statement signed by the Commissioner for Budget and Economic Planning, Professor Musibau Babatunde, and the Commissioner for Information, Prince Dotun Oyelade.
According to the statement, the N30bn intervention fund has not been spent and remains domiciled in the Oyo State Government Infrastructure Support Account, number 2045199879, with First Bank of Nigeria since it was released in 2024.
“As of December 31, 2025, the N30 billion remains untouched in the Oyo State infrastructure account with First Bank. Interested members of the public may verify this information with the bank,” the statement said.
It added that the state deliberately refrained from using the funds because the remaining N20bn balance from the approved N50bn has not been released by relevant federal agencies, with no official explanation communicated to the state.
“The Oyo State Government has deliberately refrained from utilising the N30 billion already released in recognition of the fact that the remaining N20 billion has remained withheld by the relevant federal agencies for reasons that have not been communicated to the state,” the statement said.
The government said recent developments around the approval process further justified its decision to delay spending the funds. “Given the disgraceful drama of the last couple of days from the Federal Government on the approval, the Government of Oyo State is convinced of the wisdom of its decision to ‘wait and see’ before deciding what to do with the money,” it added.
On the outstanding balance, the government noted that nearly two years after the explosion, the Federal Government is yet to release the remaining N20bn from the approved intervention fund.
“The Oyo State Government remains committed to securing the balance of the approved funds to comprehensively address the damage caused by the explosion to both public and private properties,” the statement said, noting that many victims had already received support within the financial capacity of the state.
The government disclosed that it had spent N24.6bn from its own resources in response to the explosion. This included N20.141bn for reconstruction of infrastructure in Bodija and surrounding areas, and N4.085bn paid as support and compensation to affected residents.
“These expenditures were fully borne by the Oyo State Government,” the statement said.
The government insisted it had nothing to hide and would continue to engage the public transparently on the matter, adding that the governor remains committed to serving the people of Oyo State truthfully and responsibly.
