![L-R: Managing Director, BGL Securities Limited, Arnold A. Dublin-Green; Assistant Vice President, Financial Derivatives Limited, Dr. Ifeoma Nwokolo; CEO, Centre for the Promotion of Private Enterprise [CPPE], Muda Yusuf (speaker); Chairman of the Occasion, Chief Paul Usoro; Dean, Lagos Business School, Information Systems, Prof. Olayinka David-West; Managing Director/CEO, Financial Derivatives Company, Bismarck Rewane; Group Chief Branding & Communications Officer, Dangote Industries Limited, Anthony Chiejina at Dangote Petroleum Refinery & Petrochemicals IPO Roadshow tagged “Back to where it all began” in Port Harcourt. Rivers State on Monday, October 12, 2026…](https://pmparrotng.com/wp-content/uploads/2026/10/Dangote-imagee-180x135.jpg "As Dangote Refinery’s IPO Nears Close, Small Investors Take Center Stage")
The Oyo State government has confirmed that chairmanship and councillorship elections in the 33 local government councils in Oyo State will be held on December 29 this year.
In a statement issued by the Commissioner for Information, Prince Dotun Oyelade said the Executive Council, during its sitting, approved the payment of its counterpart funding to the Oyo State Independent Electoral Commission (OYSIEC) to begin preparations for the polls.
The elections, which will be co-funded by the state and the local government councils, will be financed at a ratio of 60 per cent by the LGAs and 40 per cent by the state.
The statement said the sum of ₦2,566,800,000 (two billion, five hundred and sixty-six million, eight hundred thousand naira) will be paid by the LGAs, while the state will foot the balance of ₦1,711,200,000 (one billion, seven hundred and eleven million, two hundred thousand naira).
The Council also approved the release of ₦437,446,398.58 (four hundred and thirty-seven million, four hundred and forty-six thousand, three hundred and ninety-eight naira, fifty-eight kobo) for the accreditation needs of the Abiola Ajimobi Technical University Nursing Programme.
According to the Council, this funding will assist the university’s diversification drive from being solely a science- and technology-oriented institution.
It will also enable the university to become self-sustaining.
The university is currently in the final accreditation process, and failure to meet the nursing professional accreditation deadline will put the huge investment in the university at risk.
Prince Oyelade said that the Seyi Makinde administration has already spent over 3 billion naira on the acquisition of equipment for the Programme take-off.
According to the Commissioner, the Council also approved the payment of the counterpart funding for the construction, renovation, and equipping of the Ladoke Akintola University of Technology (LAUTECH), Oyo Annex.
The Council observed that since about 70 percent of patients accessing services at the LAUTECH Teaching Hospital, Ogbomoso, are from Oyo and its environs, the government is ready to pay its own 50 percent counterpart funding, amounting to ₦6,744,379,570.28 (six billion, seven hundred and forty-four million, three hundred and seventy-nine thousand, five hundred and seventy naira, twenty-eight kobo), while Oyo East LGA will pay the other half of a similar amount.
The total sum is ₦13,488,759,140.56 (Thirteen billion, four hundred and eighty-eight million, seven hundred and fifty-nine thousand, one hundred and forty naira, fifty-six kobo).
The Council praised Governor Seyi Makinde’s consistent exemplary performance and his efforts towards the development of the state, notwithstanding the short period left until May next year.
The Council singled him out for his strategic cooperation with the 33 local government councils in the state.
Packaged by Mayowa Owogbade
