Governor Seyi Makinde of Oyo State divulged that his wealth has dipped by approximately 10% over his four-year stint. Speaking to journalists in Ibadan, he shared this intriguing piece of information on Sunday.
The Governor reported submitting his Asset Declaration form to the Code of Conduct Bureau office at the State Secretariat, Total Garden Road, Ibadan, last Friday. As a reminder, Makinde, upon his entry into office in 2019, declared assets amounting to N48 billion.
While the Governor chose not to divulge the details of his assets to the reporters, he promised that these particulars would be shared with the public in due time.
As per the stipulations in Paragraph 11 Part 1 to the fifth schedule of the 1999 Constitution of the Federal Republic of Nigeria, a governor must declare his assets at the culmination of the first term in office.
“Legally, it is required of me to declare my assets at the end of my first tenure and before the commencement of the second. I have thus submitted my Asset Declaration form, detailing both my end-term assets for my first tenure and my start-term assets for the second.”
Acknowledging his previously declared assets, the Governor revealed,
“Over the course of the past four years, my wealth has reduced by around 10 to 12%. Having been focused on managing Oyo State’s affairs, my personal business did not receive my full attention. As such, minor losses were inevitable. Nonetheless, I’m managing quite well.”
During this event, Bayo Lawal, the state deputy governor, was also present to submit his Asset Declaration form.
The news comes just before Makinde’s inauguration for his second term as the Chief Executive Governor, scheduled for Monday at the Obafemi Awolowo Stadium, Oke-Ado, Ibadan.
The Governor’s Wealth and Public Responsibility: A Case Study from Oyo State
The recent revelation from Oyo State Governor Seyi Makinde that his wealth has decreased by 10% in his first four-year tenure is an issue worthy of dissection. We often picture politicians growing richer while in office; however, Makinde’s candid disclosure breaks the stereotype.
While opponents might argue that this could be a publicity stunt or an attempt to gain empathy, the simple truth remains: he made this known to the public, complying fully with the constitutional requirement.
Makinde’s openness provides a refreshing shift from the clandestine dealings we often associate with political figures.
However, is it practical or desirable for politicians to suffer financial losses in public office? Ideally, our leaders should be fully invested in their roles, with the state’s and its citizens’ well-being as their primary concern. Yet, it’s worth acknowledging the potential for financial missteps due to the job demands.
Makinde’s case presents an opportunity for political officeholders to reassess the need for financial management skills. There’s a call here for political aspirants to be more financially literate, ensuring they can balance their financial obligations with their public duties.
This would benefit them and contribute to improved governance without desperate attempts to amass wealth while in office.
Adopting a long-term solution, schools of political sciences should incorporate financial management as part of their curriculum.
Moreover, independent courses could be facilitated for political office holders, fostering a generation of leaders with the necessary financial skills.
Did You Know?
- Oyo State, where Seyi Makinde is Governor, is located in southwestern Nigeria and is known for its vast agricultural resources.
- The Code of Conduct Bureau (CCB) is a federal agency in Nigeria mandated to ensure the constitutionally required standards of behaviour for public officers.
- Asset declaration is a measure intended to combat corruption and increase political transparency. It is a mandatory process for public officials in many countries, including Nigeria.
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