…says FG N30bn remains untouched in dedicated account
Oyo State Government on Thursday said the N30 billion Federal Government intervention fund approved for the reconstruction of Old Bodija in Ibadan and surrounding areas, the state capital, following the January 16, 2024 explosion, is untouched and in a dedicated account.
In a press statement issued in response to the allegation leveled against the Oyo State Government by former Governor of Ekiti State and Oyo APC, Ayodele Fayose, alleging misuse of the N50 billion Bodija explosion support, the Oyo State Government revealed that Governor Seyi Makinde formally requested federal assistance immediately after the disaster which claimed lives, destroyed properties and displaced residents.
A press statement issued by the Oyo State Government and addressed by the Commissioner for Budget and Economic Planning, Musibau Babatunde, indicated that Governor Seyi Makinde wrote to President Bola Tinubu on January 19, 2024 detailing the emergency actions already taken by the state government.
These included search and rescue operations using heavy equipment, full medical care for injured victims at state expense, deployment of ambulances and medical personnel, and provision of hotel accommodation for displaced residents.
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The Governor also requested federal support for additional interventions such as debris removal, structural integrity testing and demolition of unsafe buildings, compensation for affected property owners, reconstruction of Old Bodija and its environs, environmental impact assessment, expansion of emergency response infrastructure and other logistics necessary to restore normalcy.
According to Babatunde, the state government has estimated the total cost of the intervention at N100 billion. However, the Federal Government approved N50 billion specifically for the reconstruction of Old Bodija and surrounding communities.
Following the approval, a special Oyo State Government Infrastructure Support Account was opened with First Bank of Nigeria. Of the approved amount, N30 billion was released through the Central Bank of Nigeria on November 4, 2024.
The state government revealed that as of December 31, 2025, N30 billion was untouched in the account, noting that interested members of the public can verify this information with the bank.
The statement explained that the government deliberately avoided using the funds because almost two years after the disaster, the remaining N20 billion balance had not been released by the relevant federal agencies, without any official explanation.
Explaining further, the state government said that it has independently borne the financial burden of the emergency response and reconstruction efforts. As of January 1, 2026, Oyo State had spent N24.6 billion of its own resources on Bodija and surrounding areas. This included N20.141 billion to rebuild infrastructure and N4.085 billion paid as assistance and compensation to victims.
The government also referred to documents released by a federal political agent and Ayo Fayose, which indicated that N915.5 billion was approved as intervention funds for states nationwide.
According to the documents, some states received up to N150 billion, while Oyo State received one of the lowest allocations despite the scale of the Bodija disaster.
Addressing concerns about public disclosure, the Oyo State Government said the intervention funds are treated as capital grants and are subject to the normal budget and financial reporting process, noting that states are not required to make special public declarations upon receipt.
The statement reaffirmed the commitment of the Governor Seyi Makinde-led administration to transparency and accountability, while also cautioning against attempts by political actors to exploit the Bodija tragedy for personal or political gain.
The Oyo State Government appreciated residents for their understanding and support, and assured them that efforts will continue to ensure the release of the outstanding N20 billion to fully address the damage caused by the explosion.
