A review of Oyo State budget documents has revealed that some state agencies plan to spend up to ₦1.5 million per office table and chair, sparking criticism over spending priorities as Governor Seyi Makinde’s administration borrowed ₦164.8 billion in the first quarter of 2026 alone.
An analysis of Oyo State budget documents by SaharaReporters has triggered sharp criticism over fiscal discipline as certain state agencies plan to spend millions of naira on basic office furniture. According to the official records, the Oyo State Signage and Advertising Agency allocated ₦6 million to procure just four office tables and chairs, averaging ₦1.5 million per set. In a parallel development, the Oyo State New Towns and Cities Development Agency budgeted ₦10 million for eight tables and chairs, bringing their average to ₦1.25 million per set. The disclosure of these high-premium expenditures has raised serious concerns among transparency advocates regarding the spending priorities of government agencies under the leadership of Governor Seyi Makinde.
This lavish internal budgeting comes at a time when the state government is relying heavily on loans to sustain its fiscal responsibilities. Official budget performance documents for the first quarter of 2026 show that the Oyo State Government accumulated ₦164.8 billion in new debt through domestic borrowing between January and March 2026 alone. While the administration had initially projected a total loan intake of ₦224 billion for the entire 2026 fiscal year, it aggressively drew down 73.6 percent of that target within the first three months. The staggering Q1 loan total is roughly equivalent to 65 percent of the ₦251 billion the state received in federal allocations during the same three-month window.
The state’s current debt trajectory further highlights its widening fiscal deficit when contrasted with local productivity. Within the same first quarter of 2026, Oyo State recorded ₦26 billion in internally generated revenue (IGR), meaning the amount borrowed during those three months was more than six times the revenue generated internally. This deficit builds upon an aggressive borrowing trend from the previous year, during which the state took on ₦219 billion in loans. Consequently, within a single 15-month window stretching from January 2025 to March 2026, Governor Makinde’s administration has accumulated a combined total borrowing of ₦383 billion, magnifying public scrutiny over why millions are being directed toward luxury office furniture.
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