Oyo State Governor, ‘Seyi Makinde, on Monday signed the N684 billion 2025 Appropriation Act, tagged the “Budget of Economic Stabilisation.” Speaking at the signing ceremony held in the Executive Chamber of the Governor’s Office in Ibadan, Makinde attributed the improved budget performance in the state—from 30–35% under previous administrations to over 70%—to an inclusive budgeting process that involves stakeholders and prioritizes the state’s development.

The governor announced that the 2025 budget aims for an 80% implementation rate, emphasizing reforms, people-centered policies, and economic stability. He highlighted that the budget includes provisions for the new minimum wage, which will take effect from January 1, 2025, and reassured workers that the government would pay the 13th-month salary on December 31, 2024.

“This budget is more than a financial document; it’s an operational manual guiding our administration,” Makinde said. “We prepared this budget after extensive consultations with stakeholders across all zones, ensuring that it reflects the aspirations of our people.”

Makinde praised the collaboration between the executive and legislative arms, which enabled the budget’s passage within three months. He noted that the Assembly spent six weeks scrutinizing the document, reflecting a shared commitment to Oyo State’s growth.

The governor also addressed the challenges of 2024, encouraging residents to remain hopeful. “Despite the tough year, we are pushing forward with reforms and policies to stabilize our economy. This budget is key to achieving our goals, and I urge everyone to support this administration,” he said.

Makinde called for continued transparency and engagement with citizens, assuring residents that grievances would be addressed without bias. “Our administration has been open and fair, reinstating workers unfairly dismissed and emphasizing dialogue with all aggrieved parties.”

Legislative Support and Budget Priorities

The Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, lauded the upward review of the budget from N678 billion to N684 billion, describing it as a strategic move to address emerging priorities. He commended Governor Makinde’s achievements, including workforce expansion and investments in infrastructure, education, and workers’ welfare.

Ogundoyin stated, “This budget lays a solid foundation for unprecedented growth and development in Oyo State, ensuring that critical projects and the new minimum wage implementation are prioritized.”

Dignitaries in Attendance

The signing ceremony was attended by notable figures, including Deputy Governor Barr. Abdulraheem Bayo Lawal; PDP Deputy National Chairman (South) Ambassador Taofeek Arapaja; former deputy governors Engr. Hamid Gbadamosi and Barr. Hazeem Gbolarumi; and Chief Mrs. Mutiat Ladoja, wife of a former Oyo State governor. Other dignitaries included members of the Oyo State House of Assembly, religious and traditional leaders, labor union representatives, and top government officials.

With the 2025 budget in place, Governor Makinde reaffirmed his administration’s commitment to fostering economic growth, improving infrastructure, and enhancing the quality of life for Oyo State residents.

President Bola Tinubu has officially flagged off the 2024 main Christian pilgrimage to Israel and Jordan.

This was contained in a statement by the Deputy Director and Head of Media and Public Relations of Christian pilgrimage, Celestine Toruka, and published on the Commission’s official X handle on Monday.

The president, represented by the Secretary to the Government of the Federation, George Akume, urged pilgrims to view their journey as an opportunity to strengthen their faith in God.

He noted that the theme of the 2024 pilgrimage, “Pilgrimage of Renewed Hope for Total Restoration,” aligns with the vision and agenda of his administration.

The president called on the intending pilgrims to pray for the progress of Nigeria, Lagos State, and their families.

Tinubu warned the pilgrims against absconding while in the Holy Land, stressing that there is no better place than home.

A Federal High Court sitting in Abuja has remanded the Founder and Chairman of Platform Capital Investment Partners Limited, Akindele Akintoye, in Kuje Correctional Centre.

Justice Emeka Nwite gave the order shortly after Akintoye was arraigned by the Economic and Financial Crimes Commission (EFCC) on allegations bordering on the diversion of $26,060,406 meant to build a refinery in Brass, Bayelsa State, on Tuesday, December 24, 2024.

Justice Nwite, who adjourned the matter until December 31, directed Akintoye to remain in the correctional centre pending the hearing and determination of his bail application.

The EFCC had sued Akintoye, Platform Capital Investment Partners Limited, and Duport Midstream Company Limited, where he is also the Managing Director and CEO, as first to third defendants, respectively.

The anti-graft agency, in the charge marked: FHC/ABJ/CR/641/V/2024 dated and filed on December 19 by its lawyer, Ekele Iheanacho (SAN), preferred four counts against the trio.

Akintoye and Platform Capital Investment Partners Limited were alleged to have, between December 2020 and February 2021, indirectly retained $16 million.

The amount, the EFCC said, was part of the funds dishonestly converted from the money paid by the Nigerian Content Development and Monitoring Board (NCDMB) Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment.

The said sum of $16,006, 000 is alleged to constitute proceed of unlawful activity.

The offence, EFCC said, is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 20!2) and punishable under Section [5(3) of the same Act.

In count two, Akintoye and Platform Capital were alleged to have between December 2020 and January 2021 indirectly used the aggregate sum of $9,048,725 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment.

The said sum of $9,048,725 was said to constitute proceeds of unlawful activity and the offence was contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.

In count three, Akintoye and Duport Midstream Company Limited were alleged to have, sometime in March 2021, retained the sum of $785,681 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemicals Limited as investment.

The sum was said to constitute the proceed of unlawful activity.

The offence, the EFCC said, is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.

The EFCC, in count four, accused Akintoye and Duport Midstream of allegedly retaining the sum of $220,000 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment.

The money was said to be proceed of unlawful activity and the offence is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 2012) and | punishable under Section 15(3) of the same Act.

After the charge was read to Akintoye, he and on behalf of the companies, pleaded not guilty to all the counts.

The EFCC’s counsel, Iheanacho, prayed the court for a trial date and urged the court to remand Akintoye in a correctional centre after the non-guilty plea by the defendants.

The defence lawyer, Emmanuel Esedo, told the court that a bail application on Akintoye’s behalf had been filed.

The lawyer, who said the application was filed on December 23, sought the leave of the court to move the motion.

Iheanacho, however, opposed the submission.

After a lengthy argument by the prosecution and the defence lawyers, Justice Nwite agreed with Iheanacho’s submission.

The judge subsequently adjourned the matter until December 31 for the hearing of the bail application.

He ordered Akintoye to be remanded in Kuje Correctional Centre pending the hearing and determination of the application.