The Labour Party in Ogun State has urged residents to resist Governor Dapo Abiodun's proposed loan for the 2026 budget. Party leaders warn that borrowing would burden future generations and contradict the budget's sustainable legacy theme. They pledge legal action if the plan proceeds.
At the inauguration of the Labour Party's new executive in Abeokuta, National Vice Chairman for the Southwest, Comrade Abayomi Arabambi, called on Ogun State residents to oppose any loan attempts by Governor Dapo Abiodun to fund the N1.669 trillion 2026 budget. The governor recently presented this 'Sustainable Legacy' budget to the state assembly, which includes N518.90 billion in capital receipts from loans and grants, accounting for 31% of total revenue.
Arabambi highlighted the lack of details on loan terms, interest rates, and repayment schedules, arguing that this approach undermines the budget's principles. 'To finance over half of its capital expenditure through loans in a single fiscal year is a strategy that demands the highest level of scrutiny,' he stated. 'This directly contradicts the principle of a ‘sustainable legacy,’ potentially substituting physical infrastructure for a legacy of financial bondage for future administrations and generations of taxpayers.'
The party vows to pursue legal redress if the administration proceeds. Arabambi also expressed optimism about the 2027 elections, predicting victories in the governorship, three senatorial seats, nine House of Representatives seats, and 26 state assembly seats.
Newly elected State Chairman Hon. Oluwabukola Soyoye promised an inclusive leadership. 'I will ensure our party remains a beacon of hope, unity and progress. I promise to be a leader who listens and shows integrity. Let’s work together for our party,' she said.
