By Our Reporter The Nation
By Adedokun Seyi
Sir: Oyo State government’s claim that foreign exchange volatility justified its lavish N63.4 billion renovation of the Government House is more than flimsy – it is unapologetic prodigality. To put it bluntly, this one-time redirection consumes nearly all of the N65.2 billion the state generated internally in 2024. That sum didn’t build schools, didn’t bolster healthcare, didn’t power economic engines, but it is to redecorate the governor’s residence.
Any justification rooted in forex swings conveniently ignores that every sector – roads, health, education, moved forward despite the same currency turbulence. Only this one building got the bailout.
If history has taught states anything, it’s that superficial grandeur rarely translates into long-term prosperity. What lift societies is not ornate ceilings or imported tiles in government residences, but bold, strategic investments that place citizens at the centre of development. That is the irreversible truth, Governor Seyi Makinde’s administration seems to have ignored with the N63.4 billion renovation, an allocation nearly matching the state’s entire Internally Generated Revenue (IGR) for 2024. When a state chooses to spend what it earns in a whole year on refurbishing a building few citizens will ever enter, it raises serious questions about its vision, values, and priorities.
If Oyo had allocated N63 billion to off-grid solar or gas-powered micro-grids, it could have brought dependable power to hundreds of communities, powering cold storage for farmers and boosting agribusiness. According to Nigeria’s National Bureau of Statistics, the multidimensional poverty rate stands at over 63% of the population, with Oyo State’s poverty index hovering around 25%–30%, depending on the metric used. A modest N10–N20 billion seed could kick-start a state-owned textile mill-carrying cotton from Oke Ogun through production, employing thousands, diversifying the economy, and reducing dependency on imported fabrics.
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Food security was also pushed aside for chandeliers when Nigeria needs about N1.5 trillion annually for agricultural investment. While Oyo could not plug that entire gap, spending out of N63 billion would have meaningfully improved irrigation, mechanisation, and storage for its dominant rural population, 60 per cent of who depend on farming.
A state keen on business competitiveness would prize clean energy and value-adding industries over elaborate lodgings. The ROI could be seen immediately: lower food costs, employment, reduced blackouts, healthier rural economies, and a rising local tax base. Dollars spent on bricks and paint don’t yield returns – the returns of a nascent textile mill do. Oyo’s choice betrays a regressive mind-set by funding a palace over potential. Weighed against evidence, N63 billion should have been a catalyst, not a capstone. If Oyo’s leadership channels even a fraction of that sum into clean power, local manufacturing, food-value chains, or rural SMEs, the results would outshine any ornament-laden corridor. The difference between governance and grandstanding isn’t delivery but direction.
If Oyo State had allocated even N20 billion of the government house renovation cost to reviving its tourist sites, building infrastructure around them, training guides, and launching a digital promotion campaign, it could have launched a mini-tourism revolution. Local airlines, ride-hailing services, hoteliers, food vendors, and artisans would feel the impact. Employment would surge. Most importantly, the economy would diversify, bringing the state closer to the elusive goal of financial autonomy. Instead, the money would be buried in marble tiles, ornate chandeliers, and banquet halls that few citizens will ever see. The economic waste is evident. The moral cost is incalculable. Tourism isn’t just about fun; it is an industry, a job creator, a cultural bridge, and a revenue stream.
Until the Oyo State government understands this and realigns its spending from vanity to vision, the dream of financial freedom will remain as unreachable as the top of a neglected Bowers Tower. It’s time to spend with foresight. It’s time to trade polish and political aspirations for prosperity.
•Adedokun Seyi,
adedokunseyi6@gmail.com