The Oyo State Government has disclosed that the ₦30 billion intervention fund released by the Federal Government remains untouched in a state account, while ₦20 billion of the approved ₦50 billion intervention package is yet to be paid.
In a statement issued on Thursday, the state government, speaking through its Commissioner for Information, Dotun Oyelade, revealed that the entire ₦30 billion released by the Federal Government in November 2024 lies idle in the Oyo State Government Infrastructure Support Account (No. 2045199879) at FirstBank.
“As of Thursday, December 31, 2025, the ₦30 billion remained untouched in the Oyo State infrastructure account with the First Bank. Interested members of the public may verify this information with the bank,” the statement read.
The intervention fund was part of financial support approved to aid reconstruction and recovery following the January 16, 2024 Bodija explosion, one of the deadliest blasts the Oyo State capital has experienced. Governor Seyi Makinde had formally requested federal support in a letter dated January 19, 2024, outlining the immediate steps the state government had already taken to mitigate the effects of the disaster.
Those actions, according to the government statement, included: deployment of earth-moving equipment for search and rescue, hospitalisation of the injured with all medical bills covered by the state, deployment of ambulances and medical personnel, and accommodation for displaced residents at the state’s expense.
Initially, Oyo State asked the Federal Government for ₦100 billion to fully address recovery, rebuilding, and compensation needs, but the presidency approved ₦50 billion, specifically earmarked for “support for the reconstruction of Old Bodija and environs after the Bodija explosion.” A memo from the Accountant-General of the Federation to the Minister of Finance confirming the approval was released by the Federal Government’s political agent, Mr. Ayo Fayose.
The statement explained why the Oyo State Government has refrained from using the released funds.
“The Oyo State Government has deliberately refrained from utilising the ₦30 billion already released in recognition of the fact that the remaining ₦20 billion has remained withheld by the relevant federal agencies for reasons that have not been communicated to the state.”
According to the statement, the state government believes it was prudent to hold off on expenditures until the full amount approved by the Federal Government is released and available for comprehensive reconstruction planning.
While federal funds remain untouched, the Oyo State Government says it has been shouldering the financial burden of recovery. The statement indicated that, as of January 1, 2026, the state had expended ₦24.6 billion from its own coffers on direct response and rehabilitation efforts.
Therefore, the expenditures included: ₦20.141 billion for infrastructure reconstruction in Bodija and surrounding areas, and ₦4.085 billion in victim support and compensation.
The government affirmed it did not wait for federal intervention before initiating its reconstruction efforts, noting that the federal assistance arrived nearly a year after the explosion.
In a broader context, documents show the Federal Government approved a total of ₦915.5 billion as intervention funds across Nigeria, with disparities in allocations to various states. While one South-West state received ₦150 billion and another ₦50 billion, Oyo State’s approved share remains among the lowest, despite the severity of the Bodija explosion.
The statement concluded with assurances of transparency from the Oyo State Government.
“The Oyo State Government, under the leadership of His Excellency, Engr ‘Seyi Makinde, appreciates the continued support and understanding of the people of the state. The government particularly thanks the people for their discernment in seeing through attempts by desperate political actors to exploit the 2024 tragic events of Bodija to gain an undeserved foothold in our state for personal and political gains.”
Governor Makinde reiterated his commitment to serving the people with integrity, promising continued engagement on all issues, including the handling of federal intervention funds, and wishing residents a peaceful and prosperous 2026.
