The Oyo State Government has clarified that the ₦30 billion intervention fund released by the Federal Government following the January 16, 2024 Bodija explosion in Ibadan remains untouched, while the outstanding ₦20 billion balance approved for the state has not yet been released.
This was disclosed in a detailed press statement issued by the Oyo State Government, explaining the background, purpose, and current status of the federal intervention fund meant to support recovery efforts after the deadly explosion that rocked the Bodija area of Ibadan.
The statement was jointly signed by the Commissioner for Budget and Economic Planning, Professor Musibau Babatunde, and the Commissioner for Information, Prince Dotun Oyelade.
On January 16, 2024, a powerful explosion occurred in the Old Bodija area of Ibadan, Oyo State capital. The blast caused widespread destruction, leading to loss of lives, injuries, displacement of residents, and damage to homes, businesses, and public infrastructure.
The incident shocked residents of Ibadan and drew national attention, as Bodija is a densely populated residential and commercial area. Emergency responders, including security agencies, medical workers, and volunteers, were immediately deployed to rescue victims and manage the aftermath.
Recognising the scale of the disaster, Governor Seyi Makinde wrote to President Bola Ahmed Tinubu on January 19, 2024, requesting federal financial support to help the state manage the crisis.
According to the statement, the Oyo State Government did not wait for federal assistance before acting. Immediately after the explosion, the state deployed earth-moving equipment to aid search and rescue operations.
Injured victims were taken to hospitals, with all medical bills fully paid by the state government. Ambulances and medical personnel were stationed at the scene, while displaced residents were accommodated in hotels at government expense.
The governor also outlined further areas that required urgent support, including clearing rubble, testing the safety of nearby buildings, demolishing unsafe structures, compensating property owners, rebuilding affected areas, expanding emergency response facilities, and restoring infrastructure in Bodija and surrounding communities.
To address these needs, the Oyo State Government estimated the total cost of intervention at ₦100 billion and requested that amount from the Federal Government.
However, President Tinubu approved ₦50 billion, representing half of the requested sum. The purpose of the approved fund was clearly stated as support for the reconstruction of Old Bodija and its environs following the explosion.
To manage the funds properly, the Oyo State Government opened a special Infrastructure Support Account with First Bank of Nigeria.
On November 4, 2024, nearly one year after the explosion, the Federal Government released ₦30 billion of the approved ₦50 billion through the Central Bank of Nigeria.
The Oyo State Government disclosed that as of December 31, 2025, the ₦30 billion released by the Federal Government remains untouched in the dedicated account.
The government said it deliberately decided not to use the funds because the remaining ₦20 billion balance has not been released by relevant federal agencies, with no official explanation provided to the state.
The statement added that recent controversies and public debates surrounding the fund further justified the government’s decision to “wait and see” before spending the money.
The government noted that members of the public could verify the status of the ₦30 billion with the bank where the account is held.
Almost two years after the Bodija explosion, the Federal Government is yet to release the outstanding ₦20 billion from the approved ₦50 billion intervention fund.
The Oyo State Government stressed that securing the remaining balance is important to fully address the damage caused by the explosion, especially considering the number of victims and the scale of destruction to both private and public property.
The state said it remains committed to engaging relevant federal authorities to ensure the balance is released.
Despite the delay in federal support, the Oyo State Government said it has spent ₦24.6 billion from its own resources on Bodija and surrounding areas as of January 1, 2026.
This includes ₦20.141 billion spent on reconstructing infrastructure such as roads, drainage systems, and public facilities, as well as ₦4.085 billion paid as support and compensation to victims of the explosion.
The government highlighted that these expenses were fully borne by the state without federal assistance at the time.
The statement also referenced documents released by the Federal Government showing that a total of ₦915.5 billion was approved as intervention funds for states across the country.
According to the documents, one South-West state received ₦150 billion, while another received ₦50 billion. Oyo State, despite experiencing one of the most devastating incidents in recent years, received one of the lowest allocations among beneficiary states.
The government encouraged interested members of the public to review the list for verification.
Addressing public concerns about transparency, the Oyo State Government explained that intervention funds are treated as capital grants and must go through the normal budgeting process before being spent.
Such funds, the government said, are reflected in financial statements and do not require special public announcements upon receipt. This, it explained, is why other states that received larger amounts did not publicly announce their funds.