The Oyo State Government has confirmed that the N30 billion released by the Federal Government to assist reconstruction after the January 16, 2024 Bodija explosion in Ibadan remains untouched nearly two years on. The state said the balance of the N50 billion federal approval, a further N20 billion, has been withheld by federal agencies for reasons that have not been communicated.
Bodija reconstruction funds remain partly withheld
In a statement issued by Professor Musibau Babatunde, Commissioner for Budget and Economic Planning, and Prince Dotun Oyelade, Commissioner for Information, the state disclosed that the entire N30 billion sits idle in the Oyo State infrastructure support account number 2045199879 at First Bank. The account was opened after the Federal Government approved N50 billion to support reconstruction in Old Bodija and surrounding areas.
The statement recalled that Governor Seyi Makinde had written to President Bola Ahmed Tinubu on January 19, 2024, seeking emergency support after the explosion. The governor estimated the cost of intervention at N100 billion and outlined immediate measures already taken by the state, including deployment of earth-moving equipment for search and rescue, hospitalisation of the injured with costs covered by the state, the use of ambulances and medical teams, and temporary accommodation for displaced residents at state expense.
The presidency approved N50 billion, half of the amount requested, with a memo dated August 29, 2024 from the Accountant General of the Federation to the Minister of Finance setting out the purpose as support for reconstruction of Old Bodija and its environs. The political agent of the Federal Government, Mr Ayo Fayose, released the memo publicly.
According to the state, the Central Bank of Nigeria released N30 billion on November 4, 2024, into the designated First Bank account. As of December 31, 2025, that sum remained untouched. The Oyo State Government said it deliberately refrained from utilising the funds because the remaining N20 billion of the approved N50 billion remains withheld by relevant federal agencies and no official explanation has been provided.
The commissioners invited interested members of the public to verify the account balance directly with First Bank. The disclosure is intended to provide transparency and to assure residents that federal support earmarked for reconstruction has not been spent without clarity over the full package.
While the immediate needs arising from the explosion were funded by the state, the withholding of the remaining federal sum raises questions about timelines for comprehensive rebuilding and the allocation of resources for longer term recovery. Oyo State reiterated its appreciation for public support and emphasised its commitment to continue providing for victims while awaiting federal clarification.
Observers say the episode highlights the need for clearer communication between federal and state authorities when emergency funds are approved and disbursed. For now, residents and stakeholders in Ibadan will be watching for an explanation from the federal agencies holding the outstanding N20 billion and for a timetable for the release of those funds so reconstruction can proceed in earnest.
Key Takeaways:
- Oyo State says N30 billion federal contribution for Bodija reconstruction funds remains untouched in a First Bank infrastructure account.
- The Federal Government approved N50 billion for reconstruction but N20 billion of the amount has been withheld by federal agencies without explanation.
- The state has deliberately declined to access the released funds pending clarification and has invited the public to verify the account balance with the bank.
- Governor Seyi Makinde had requested N100 billion after the January 16, 2024 explosion; the state continues to cover emergency response costs.
