Bodija explosion: N30bn FG fund intact, N20bn balance withheld, Oyo govt

By Dayo Johnson & Shina Abubakar

Oyo State Government has disclosed that the N30 billion released by the Federal Government, as part of the intervention fund approved for the January 2024 Bodija explosion, in Ibadan, has remained untouched, about two years after the tragic incident.

The government also revealed that the Federal Government was yet to release the outstanding N20 billion balance from the N50 billion approved to support the reconstruction of Old Bodija and its environs following the January 16, 2024 explosion.

In a statement released yesterday, by Professor Musibau Babatunde, Commissioner for Budget and Economic Planning and Prince Dotun Oyelade, Commissioner for Information, the state government disclosed that the whole N30 billion lies untouched in State government infrastructure support account number 2045199879 with the First Bank.

The state government explained that it deliberately refrained from accessing the funds because the remaining N20 billion was being withheld by relevant federal agencies, without any official explanation.

The statement read in part:”Following the unfortunate explosion that occurred on January 16, 2024, in the Bodija area of Ibadan, and being aware that intervention funds exist at the federal level for states facing emergencies, His Excellency, the Governor of Oyo State, Engineer Seyi Makinde, formally wrote to His Excellency, President Bola Ahmed Tinubu, requesting approval for financial support to assist the state in managing the disaster.

“In the letter dated January 19, 2024, Governor Seyi Makinde, outlined the immediate steps already taken by the Oyo State Government to mitigate the impact of the explosion. These measures included the deployment of earth-moving equipment to aid search-and-rescue efforts; the hospitalisation of injured victims with all medical bills fully covered by the state government; the deployment of ambulances and medical personnel to the scene; and the provision of accommodation for displaced victims in hotels at the expense of the state government.

“To address these needs, the Oyo State Government estimated the cost of intervention at N100 billion and requested the President’s approval for that amount.

“The president, however, approved N50 billion— half of the requested sum.

“The purpose of the approved fund was clearly stated by the Federal Government as “Support for the reconstruction of Old Bodija and environs after the Bodija explosion.” (See memo dated 29 August, 2024, from the Accountant General of the Federation to the Minister of Finance, released by the political agent of the Federal Government, Mr. Ayo Fayose.

“Following the approval, an Oyo State Government Infrastructure Support Account (No. 2045199879) was opened with First Bank of Nigeria for the intervention fund.

“Out of the approved N50 billion, the Federal Government, through the Central Bank of Nigeria (CBN), released N30 billion to Oyo State on November 4, 2024.

“As of yesterday, December 31, 2025, the N30 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 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 by the relevant federal agencies for reasons that have not been communicated to the state.

“The Oyo State Government, under the leadership of His Excellency, Engineer Seyi Makinde, appreciates the continued support and understanding of the people of the state.’

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