He said more debts are still being collated by government officials, which would be made public soon.
Makinde, who made the revelation during a media chat on the Broadcasting Corporation of Oyo State to celebrate his one month in office, threatened to expose his predecessor, Abiola Ajimobi, if he continued to disturb his administration.
Makinde said N1.3 billion seized from a past government official and confiscated to the Federal Government was being pursued to tackle the problems of the education sector.
He summed up the debt to be around $500 million, but said it would not stop his lofty programmes and electioneering promises to the people in four years.
Makinde also alleged that the past government spent about N2 billion on a kilometre road when the topography of the state wasn’t like that of Rivers State.
He said he is still checking files on the activities of the immediate past administration in the state, but so far he has discovered N150 billion debt left behind.
Makinde said: “We have confirmed N150 billion debt so far.
“We are still working to discover more.
“Some of them may be questionable.
“If you take a bond, it is always tied to a particular project.
“If we want, we can do a value-for-money audit.
“Our focal point is how to strengthen the economy of the state so that all and sundry will prosper.
“But I will expose them if they don’t want to stop disturbing us.
“When we do, they won’t be able to move on the streets.”
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