- Safiu Kehinde
Oyo State Governor, Seyi Makinde, has released a bank statement showing the N30 billion allegedly released by the Federal Government out of the N50 billion promised intervention fund for victims of January 2024 explosion at BERA Estate in Bodija.
Makinde released the details of the transaction in a statement issued on Thursday by the state Commissioner for Budget and Economic Planning, Prof Musibau Babatunde, and the Commissioner for Information, Prince Dotun Oyelade.
This is coming under the heels of allegation filed against the Oyo Governor by former Ekiti state governor, Ayodele Fayose.
NPO Reported that Fayose had leaked a letter written to the Federal Government by the Oyo state government, demanding N50 billion intervention fund for the victims of the Bodija explosion.
While the state government had repeatedly clarified the request, disclosing that only N30 billion, the government in the statement issued today held that they had estimated N100 billion for the repair of the damage caused by the explosion.
However, the Federal Government reportedly approved only N50 billion but released N30 billion.
“In the letter dated January 19, 2024, Governor Makinde outlined the immediate steps already taken by the Oyo State Government to mitigate the impact of the explosion.
“These measures included the deployment of earth-moving equipment to aid search-and-rescue efforts; the hospitalisation of injured victims with all medical bills fully covered by the state government; the deployment of ambulances and medical personnel to the scene; and the provision of accommodation for displaced victims in hotels at the expense of the state government.
“The governor then highlighted additional areas where federal assistance was required.
“These included: clearing of rubble and debris as part of continued search and rescue operations; immediate integrity tests on buildings within the affected axis and demolition of unsafe structures; compensation for owners of affected properties; reconstruction of Old Bodija and its environs; expansion of the emergency response hub; environmental impact assessment; logistics support and reimbursement; and infrastructural development required to restore normalcy to Bodija and surrounding communities after the massive destruction.
“To address these needs, the Oyo State Government estimated the cost of intervention at N100 billion and requested the President’s approval for that amount. The president, however, approved N50 billion— half of the requested sum.” The statement read.
Following the approval, an Oyo State Government Infrastructure Support Account (No. 2045199879) was opened with First Bank of Nigeria for the intervention fund.
The statement of account however revealed that the Federal Government, through the Central Bank of Nigeria (CBN), only released N30 billion to Oyo State on November 4, 2024.
Oyo State Government held that the fund had since remained untouched.
“As of December 31, 2025, the N30 billion remains untouched in the Oyo State infrastructure account with the First Bank. Interested members of the public may verify this information with the bank.
“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.
“Given the disgraceful drama of the last couple of days from the Federal Government on the approval, the government of Oyo State is convinced on the wisdom of its decision to ‘wait and see’ before deciding what to do with the money. ” The statement read further.
While reiterating its commitment to securing the balance of the approved fund, the Oyo government disclosed that it had disbursed fund from its personal purse in response to the explosion with a total of N24.6 billion released.
“Following the explosion, Nigerians are aware of the swift and sustained efforts of the Oyo State Government, which significantly mitigated the effects of the disaster.
“The state government did not wait for federal intervention, which came in November, 2024, almost a year after the incident.
“As of January 1, 2026, the Oyo State Government has spent N24.6 billion from its own resources on Bodija and its environs in direct response to the explosion and its consequences.
“This includes N20.141 billion spent on the reconstruction of infrastructure in Bodija and surrounding areas, as well as N4.085 billion paid as support and compensation to victims of the explosion. These expenditures were fully borne by the Oyo State Government.” The statement read.