Bodija Explosion: N30b FG Fund Unspent, N20b Withheld – Oyo State

The 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 for nearly two years after the tragic incident.

The government also revealed that the Federal Government is 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.

A statement and document went viral earlier this week, shared by Lere Olayinka, aide to the FCT Minister, revealing that the Oyo State Government requested a ₦50 billion relief fund after the blast, a document which was accompanied by a statement reportedly signed by ex-Ekiti State Governor  Ayodele Fayose.

Fayose, in the reported statement, alleged that the Federal Government, through the office of the Accountant General of the Federation, disbursed N50 billion to support victims in the Bodija market explosion.

Seyi Makinde, in a statement by his Chief Press Secretary (CPS) Sulaimon Olanrewaju, rebutted the N50 billion, saying he got only N30 billion and proceeded to explain how it was disbursed.

In a Thursday press statement signed by the Commissioner of Information, Prince Dotun Oyelade, the state government disclosed that the released N30 billion remains in the Oyo State government infrastructure support account number 2045199879 with the First Bank.

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

The statement reads, “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 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.”

The statement added, “The governor then highlighted additional areas where federal assistance was required. These included: clearing of rubble and debris as part of continued search and rescue operations; immediate integrity tests on buildings within the affected axis and demolition of unsafe structures; compensation for owners of affected properties; reconstruction of Old Bodija and its environs; expansion of the emergency response hub; environmental impact assessment; logistics support and reimbursement; and infrastructural development required to restore normalcy to Bodija and surrounding communities after the massive destruction.

“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 statement further revealed that 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,” referencing the memo dated 29 August, 2024, from the Accountant General of the Federation to the Minister of Finance, released by the ex-Governor Fayose.

The statement continues, “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 reiterates its commitment to securing the balance of the approved funds to comprehensively address the damage caused by the explosion to both public and private properties, emphasising that it is important, given the scale of the challenges faced by the state and the victims, many of whom have already been supported within the financial capacity of the state government.

The statement added that, “Following the explosion, Nigerians are aware of the swift and sustained efforts of the Oyo State Government, which significantly mitigated the effects of the disaster. The state government did not wait for federal intervention, which came in November 2024, almost a year after the incident.

“As of today, January 1, 2026, the Oyo State Government has spent N24.6 billion from its own resources on Bodija and its environs in direct response to the explosion and its consequences. This includes N20.141 billion spent on the reconstruction of infrastructure in Bodija and surrounding areas, as well as N4.085 billion paid as support and compensation to victims of the explosion. These expenditures were fully borne by the Oyo State Government.”

“Documents released by the Federal Government through its agent, Mr Ayo Fayose, indicate that a total of N915.5 billion was approved as intervention funds for states across the country. The list of beneficiary states shows that one South-West state received N150 billion, while another received N50 billion. Oyo State, despite experiencing one of the most devastating incidents, received one of the lowest allocations among beneficiary states. Interested members of the public may consult the list for verification.

“Special intervention funds, when released, are received as capital grants. In line with standard practice and legal requirements, such funds are subjected to the budgeting process before expenditure and are duly reflected in the financial statements of the state. They do not require special public announcements upon receipt. This explains why other states that received significantly larger amounts did not publicly advertise the receipt of such funds.

“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. The government particularly thanks the people for their discernment in seeing through attempts by desperate political actors to exploit the 2024 tragic events of Bodija to gain an undeserved foothold in our state for personal and political gains,” the statement concluded.