The Oyo State Government has said the N30 billion released by the Federal Government as intervention funds for the January 16, 2024 Bodija explosion in Ibadan has not been spent, almost two years after the incident.
The state also disclosed that the Federal Government has yet to release the remaining N20 billion balance from the N50 billion earlier approved for the reconstruction of Old Bodija and surrounding areas.
This was made known in a statement issued on Thursday by the state Commissioner for Information, Dotun Oyelade.
According to the statement, the N30 billion remains intact in the Oyo State Government Infrastructure Support Account with FirstBank.
“Following the unfortunate explosion that occurred on January 16, 2024, in the Bodija area of Ibadan, His Excellency, Governor ‘Seyi Makinde, formally wrote to President Bola Ahmed Tinubu on January 19, 2024, requesting financial support to assist the state in managing the disaster,” Oyelade said.
He explained that the governor, in the letter, outlined immediate steps already taken by the state, including search and rescue operations, medical care for the injured, deployment of ambulances and medical personnel, and accommodation for displaced victims, all funded by the state government.
Oyelade said Makinde also identified areas where federal support was needed, such as clearing debris, integrity tests on buildings, demolition of unsafe structures, compensation for affected property owners, reconstruction of Old Bodija, environmental impact assessment, and infrastructure restoration.
“To address these needs, the Oyo State Government estimated the cost of intervention at N100 billion and requested that amount. The President, however, approved N50 billion as support for the reconstruction of Old Bodija and its environs,” the statement said.
The commissioner disclosed that out of the approved N50 billion, only N30 billion was released through the Central Bank of Nigeria on November 4, 2024.
“As of Thursday, December 31, 2025, the N30 billion remained untouched in the Oyo State infrastructure account with FirstBank. Interested members of the public may verify this information with the bank,” he said.
Oyelade said the state deliberately decided not to access the funds because the remaining N20 billion had been withheld by relevant federal agencies without explanation.
“The Oyo State Government has deliberately refrained from utilising the N30 billion already released in recognition of the fact that the remaining N20 billion has remained withheld for reasons that have not been communicated to the state,” he added.
He noted that despite the delay in federal intervention, the state government acted swiftly after the explosion and did not wait for federal support, which only came nearly a year later.
“As of today, January 1, 2026, the Oyo State Government has spent N24.6 billion from its own resources on Bodija and its environs,” Oyelade said.
He broke down the figure, stating that N20.141 billion was spent on infrastructure reconstruction, while N4.085 billion was paid as compensation and support to victims.
The commissioner also said documents released by the Federal Government showed that a total of N915.5 billion was approved as intervention funds for states nationwide, with some states receiving as much as N150 billion.
“Oyo State, despite experiencing one of the most devastating incidents, received one of the lowest allocations among beneficiary states,” he said.
Oyelade stressed that intervention funds are capital grants and must pass through the normal budgeting process before use, adding that the state has nothing to hide.
“The Oyo State Government remains committed to securing the balance of the approved funds to fully address the damage caused by the explosion,” he said.
He added that Governor Makinde remained committed to transparency, accountability and faithful service to the people of Oyo State, while wishing residents a peaceful and prosperous 2026.
