Oyo Governor, Seyi Makinde, yesterday, said that his administration was ready to retreive the billions of the state’s funds looted by officials of the previous administration.
The governor, who stated this while kickstarting the construction of the 21km Ajia-Airport-New Ife Expressway road, in Ajia town, said his was ready to put measures in place to retrieve all looted funds to develop the state’s infrastructure.
The 21-kilometre Airport-Ajia-New Ife Express Road, with spur to Amuloko, was awarded to Messrs Peculiar Ultimate Concerns Ltd, at a total cost of N8,520,919,776.
According to the governor, unlike the previous government, which, he said, preoccupied itself with how to corner state’s funds on a daily basis, his administration would drastically reduce the infrastructure deficit in the state within the shortest possible time.
He said it is only in doing so that the state can be positioned on the path of economic growth.
A statement by the Chief Press Secretary to Governor Makinde, Mr. Taiwo Adisa, quoted the governor as saying that the 21-kilometre road construction being launched was a product of the administration’s strategic way of reducing the state’s infrastructure deficit, which is known as the Alternative Project Funding Approach (APFA).
“Our administration means business. We will drastically reduce the infrastructure deficit in Oyo State in the shortest possible time. And this is how economies work: investors will only go where they can be assured of profits. If we do not develop basic infrastructure like roads, it will affect the cost of production which, in turn, means less profit for investors. So, we cannot be seriously discussing attracting investments into Oyo State when a majority of roads and other infrastructure are in a state of disrepair.
“In order to achieve this, we must strategize on how to increase our spending on infrastructure, because what we collect from Abuja every month from federal allocation is not even enough to pay the salaries. So, the new strategies on how to increase our spending on infrastructure is what we are doing here in Oyo State.”