The Oyo State Government under Governor Seyi Makinde spent ₦683.7 million in 2025 to procure one Toyota Camry and one Toyota Hiace 10-seater bus, according to the state’s audited financial statements for the year ended December 31, 2025.
The expenditure was recorded under a budget line for “Advertisement And Publicity Awareness For The Public,” with the financial statement describing the transaction as the “Procurement Of 1 No Toyota Camry, Xe (2004) And 1 Toyota Hiace Ten Sitters Bus For Advertisement And Publicity Awareness For The Public.”
The government’s actual expenditure on the two vehicles was ₦683,705,000, compared with a budgeted provision of ₦667,213,182.04, representing an expenditure above the budget by about ₦16.49 million.
The document, however, does not provide a breakdown of how much was spent on the Toyota Camry and how much was spent on the 10-seater Hiace bus.
The amount also stands out when compared with another vehicle purchase recorded in the same financial statement.
In the same year, the Oyo State government spent ₦140 million on the purchase of one Toyota 30-seater Coaster bus, 2015 model.
This means that the ₦683.7 million spent on the Camry and 10-seater Hiace was ₦543.7 million higher than the amount spent on the 30-seater Coaster bus.
The combined cost of the two vehicles was therefore nearly five times the ₦140 million paid for the 30-seater Coaster.
It is now unclear from the financial statement how the government arrived at ₦683.7 million for a Toyota Camry identified as a 2004 model and a 10-seater Toyota Hiace, particularly when a 30-seater Toyota Coaster was recorded at ₦140 million in the same year.
The document does not state the individual prices of the two vehicles or indicate whether other expenses were included in the ₦683.7 million transaction.
Other vehicle purchases contained in the 2025 financial statements also show significantly lower amounts.
For instance, the government spent ₦156.95 million on one Toyota Hiace Hummer Bus, 2021 model, against a budget of ₦157.78 million. The expenditure was listed under “Integrated Supportive Supervision,” with an actual-to-budget variance of ₦829,599.25.
The state also recorded the purchase of four Toyota Corolla 2019/2020 models for ₦28.982 million, against a budget of ₦29.138 million, leaving a variance of ₦153,191.78.
Another entry under the financial statements showed four Toyota Corolla 2019/2020 models costing ₦50.71 million, against a budget of ₦50.98 million, resulting in a variance of ₦268,043.94.
Beyond vehicle purchases, the financial statements showed several other expenditures across different sectors and programmes.
The government spent ₦10.964 million on the completion of a transit camp hostel for Christian pilgrims, against a budget of ₦11.022 million.
Under tertiary institutions’ new courses accreditation, the state recorded ₦1.396 million for the construction of a university Senate building, while ₦170.551 million was spent on the construction and provision of office buildings.
The government also spent ₦29.995 million on firefighting equipment, against a budget of ₦30.154 million.
Another ₦28.01 million was spent on the provision for accreditation of some courses by the National Universities Commission, while ₦3.557 million was spent on rehabilitation and repairs of ICT equipment and ₦3.998 million on the repair of office equipment.
The state further spent ₦206.862 million on agricultural equipment, against a budget of ₦207.966 million.
For inclusive education, ₦39.158 million was spent on medical equipment, including drugs, mattresses and blood pressure machines, against a budget of ₦39.365 million.
The financial statements also recorded ₦91.264 million for the construction and provision of office buildings and ₦3.928 billion for the rehabilitation of 100 selected public secondary schools across the state, against a budget of about ₦3.949 billion.
Another major expenditure was ₦640 million for a “Special Project & Assignment (Empowerment Programme For Youth),” compared with a budget of ₦643.383 million.
The state also spent ₦83.776 million on special projects and assignments, while ₦4.352 million was spent on technical assistance on the public-private partnership framework.
The ₦683.7 million vehicle expenditure, however, remains notable because of the stark difference between its recorded cost and the ₦140 million spent on the much larger 30-seater Coaster bus.
While differences in vehicle specifications, condition, procurement terms and associated costs can affect prices, the financial statement does not provide enough details to explain the wide disparity.
The document therefore leaves unanswered questions about the individual prices of the Toyota Camry and Hiace bus, the components of the ₦683.7 million expenditure and the basis for approving the amount.
The figures are contained in the Oyo State Government Financial Statements for the year ended December 31, 2025.
Earlier, SaharaReporters reported that the Oyo State government, under the leadership of Seyi Makinde, borrowed N164.8 billion in the first quarter of 2026.
This is according to details published in the state’s budget performance document for the first quarter, covering January to March 2026.
A review of the document showed that the funds were sourced through domestic borrowing.
For the 2026 fiscal year, the state planned to borrow N224 billion. However, it had already drawn down 73.6 percent (N164.8 billion) of that amount within the first three months of the year.
Meanwhile, within the same period, the state recorded N26 billion as internally generated revenue (IGR).