The All Progressives Congress (APC) governorship candidate in Ogun State, Senator Solomon Olamilekan Adeola, popularly known as Yayi, has vowed to reposition the state’s finances, expand its economic base and create greater fiscal space for development if elected in the 2027 governorship election.
Adeola, who spoke at a media parley in Lagos, said his ambition was not merely to occupy the Government House but to build a stronger revenue base, restructure the state’s debt obligations and unlock its vast economic and mineral resources.
He said the administration under his leadership would scrutinise the state’s debt profile, engage lenders on longer repayment periods and plug revenue leakages, arguing that government must have sufficient funds available to meet its development obligations.
“We still also have to have a breathing space,” he said, explaining that his proposed debt restructuring would not amount to defaulting on the state’s obligations.
Adeola, who referred to Ogun’s debt as being about N538 billion, attributed part of the increase to exchange-rate movements, noting that some of the loans were contracted when the naira exchanged at considerably lower rates against the dollar.
“Some loans were collected at N400 a dollar, some at N600 a dollar, but the moment exchange rate jumped to about 1,000 plus a dollar, you multiply it… take it up!” he said.
According to him, the solution would be to sit down with the lenders, review the debt profile and negotiate repayment terms that would allow the state to meet its obligations without strangling its finances.
“All you need to do is to come, look at the debt profile, sit with the lenders and agree with them,” he said.
The APC candidate also identified mining as a major frontier for expanding Ogun’s economic base, promising to aggressively pursue licences for the state’s mineral resources from the Federal Government.
He said Ogun should not merely watch private investors exploit its mineral wealth but should seek strategic participation in mining ventures.
Adeola proposed the use of special-purpose vehicles (SPVs) through which the state could partner with private investors and derive benefits through taxes, ground rent and participation in businesses created around mining activities.
He said such an approach would create jobs, attract investment and open another stream of revenue for the state.
Adeola also promised a major overhaul of Ogun’s revenue-collection system, saying his administration would hold weekly meetings with revenue-generating agencies to identify leakages, block loopholes and explore untapped sources of income.
“What are the loopholes? Where are we losing money? What are the things we can do to generate more revenue?” he asked.
He said the objective would be to ensure that economic activity taking place across the state translates into commensurate revenue for government without imposing an unbearable burden on residents and businesses.
He also disclosed that lottery would form part of the proposed revenue drive.
According to him, lottery operators would be required to register with a state commission, insisting that unregistered operators would not be allowed to operate in Ogun.
“If you don’t register with us, you can’t play lottery in my state. You cannot,” he declared.
Adeola said the proposed contribution from lottery operators would not be conventional corporate tax but what he described as “good cause money”, arguing that the huge participation in lottery represented a largely untapped revenue opportunity
The APC candidate also used the media parley to confront growing controversy over his Ogun State origin, challenging those questioning his background to investigate his family history and report their findings to Nigerians.
Adeola insisted that he is from Ogun State and described himself as the candidate to beat in the 2027 election.
“As we speak, somebody was saying, ‘I have his father’s burial programme.’ Where my father was buried is 30 minutes away from here. It’s not too far. It’s in Alimosho area, number 3 Ogunbiyi Close, Iyana Ipaja, Lagos. His house, that’s where he was buried,” he said.
He added that his mother was buried at the Victoria Garden City Cemetery, while his maternal grandmother was buried in Ikeja.
Adeola urged journalists to independently establish the facts surrounding his background rather than rely on allegations allegedly being circulated by his political opponents.
“Report to Nigerians where Yayi is from,” he challenged the media.
He also denied claims that he was sacked by The Guardian newspaper, insisting that he voluntarily resigned from the organisation.
“They say, ‘Ah, he never resigned from The Guardian, he was sacked.’ So how can I be running for an exalted office like that, and have such a big skeleton in my cupboard, and I’ll be comfortable?” he asked.
Adeola also rejected claims that he improperly changed his name, saying the process was duly advertised in The Guardian and communicated to the newspaper.
“I didn’t change my name, and I did it in The Guardian newspaper. I advertised it in The Guardian, I notified The Guardian newspaper,” he said.
The APC candidate accused his political opponents of resorting to personal attacks because, according to him, they lacked a convincing alternative agenda with which to challenge his candidacy.
“They don’t understand, because they have nothing to fight with. So they have to say something to discredit me, and I’m the candidate to beat,” he said.
“I’m the candidate to beat. They can’t match me. I have addressed you here today, let them come and address you and tell you what they have for the state. They have nothing.”
Adeola said the controversy was an attempt to distract from the issues confronting Ogun and undermine his political ambition.
“I do not want to join issues with them. They have nothing to offer,” he said.
He added that some of his supporters in Ogun had dismissed the controversy, saying: “Let him come from Afghanistan! We will vote for him.”
Adeola maintained that the 2027 election should ultimately be about the future of Ogun rather than personal attacks, stressing that his priority was to strengthen the state’s finances, unlock new sources of wealth and create the fiscal room needed to deliver infrastructure and other development programmes.
