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The governor of Oyo state, Seyi Makinde has declared that the state was technically insolvent.
Makinde made the declaration while receiving in audience members of the Governing Council of the University of Ibadan, led by the Pro-Chancellor of the institution and Chairman of Council, Dr Waklek Mutka, who were on a courtesy visit to his office in Ibadan.
He said, “When I came in, we were looking for ways to keep the government running because technically the government of Oyo State is bankrupt.
“If I take it as a private entity, I won’t lend a dime to the government of Oyo State. I will ask them to start winding up proceedings. So, we have been looking for ways to keep the government running.
“We have been beaming our searchlight on areas we can get money. The Bureau of Internal Revenue came to me and said they had issue of PAYE with the University of Ibadan.”
He added, “At the governor’s forum, I saw a document where many of the states got huge refund from PAYE due to the federal institutions located in such states. I believe Ogun State got about N8bn; another state in the South West got N10bn; and Oyo State got only about N91m.
“Then, I wondered what was going on here. They told me there was work in progress and that they had been talking but did not have cooperation from the University of Ibadan.
“I can give you the assurance that this is something for the Federal Government to refund to us. All we need to do here is open the books and see what has gone on and have an agreement. I told the chairman of Bureau of Internal Revenue that he and I will meet with the University of Ibadan to get money. We will utilise such money immediately to do things that will lift our environment.”
Makinde, however, stated his administration’s determination to collaborate with the university in the area of Public-Private Partnership to create a synergy between the institution and the government.
“The university is a very important member of this community. We will like to collaborate with the university, especially in the area of Public-Private Partnership and for us, there should be a serious synergy between the academia and the government because majority of very good research outcomes stay on the shelf in the university. We want those to come out for us to work together to utilise those research outcomes to better the lives of our people,” he said.