Nearly two years after a devastating explosion rocked the Bodija area of Ibadan, the Oyo State Government has made a significant revelation concerning the financial aid approved by the Federal Government. The state has disclosed that a sum of N30 billion, released as part of a federal intervention package, remains untouched in a dedicated bank account.
Funds in Limbo: The Full Story
In a detailed press statement issued on Thursday, January 1, 2026, by Professor Musibau Babatunde, Commissioner for Budget and Economic Planning, and Prince Dotun Oyelade, Commissioner for Information, the government provided clarity on the financial situation. The statement confirmed that the entire N30 billion released by the Federal Government is sitting idle in the Oyo State Government Infrastructure Support Account number 2045199879 with First Bank of Nigeria.
This development stems from the tragic incident of January 16, 2024, when an explosion caused massive destruction in Old Bodija. Following the disaster, Governor Seyi Makinde formally requested financial support from President Bola Ahmed Tinubu. While the state estimated the cost of comprehensive intervention at N100 billion, the Federal Government approved N50 billion specifically for the reconstruction of Old Bodija and its environs.
The N30 billion was released through the Central Bank of Nigeria (CBN) on November 4, 2024. However, the state government has deliberately refrained from accessing these funds. The reason cited is the withholding of the outstanding N20 billion balance by relevant federal agencies, without any official communication to the state explaining the delay.
Oyo State's Independent Response and Expenditure
Long before any federal aid was approved, the Oyo State Government took swift and decisive action in the aftermath of the explosion. The state's immediate measures included:
- Deploying earth-moving equipment for search-and-rescue operations.
- Hospitalising injured victims with all medical bills covered by the state.
- Providing hotel accommodation for displaced persons at the state's expense.
The state government emphasized that it did not wait for the federal intervention, which came almost a year after the incident. To date, Oyo State has spent N24.6 billion from its own resources directly on the Bodija explosion response. This substantial expenditure breaks down as follows:
- N20.141 billion on reconstruction of infrastructure in Bodija and surrounding areas.
- N4.085 billion paid as support and compensation to victims of the explosion.
Political Context and Call for Transparency
The statement from the commissioners also addressed the broader context of federal intervention funds. It referenced documents released by a federal agent, Mr. Ayo Fayose, which indicated that a total of N915.5 billion was approved for states across Nigeria. According to the government, Oyo State's allocation of N50 billion was among the lowest, despite the scale of the Bodija disaster, with some South-West states receiving significantly larger sums.
The Oyo State Government defended its transparency, noting that such intervention funds are received as capital grants and, by standard practice, are subjected to the budgeting process before expenditure. It reiterated its commitment to securing the full N50 billion approved to comprehensively address the public and private property damage caused by the explosion.
Governor Makinde's administration concluded by thanking the people of Oyo State for their support and discernment, reaffirming its commitment to faithful service and transparent engagement on the matter as the state moves forward.
