The Oyo State House of Assembly has called for an urgent upward review of the Broadcasting Corporation of Oyo State’s (BCOS) monthly subvention.
The House cited that the move will enable the Corporation to meet up with its wage and pension obligations under the newly implemented minimum wage structure.
This recommendation was contained in a report presented by the Chairman, House Committee on Information, Media, ICT and Public Affairs, Hon. Waheed Akintayo during the plenary on Thursday.
This was followed after an oversight engagement with BCOS management.
According to Hon. Akintayo, the Committee investigated the financial strain facing the Corporation after Governor Seyi Makinde approved a new minimum wage of N80,000 for state workers in January 2025.
According to the report, the Corporation’s monthly allocation was initially increased from N30.3 million to N37.9 million, a 25% rise while the wage bill surged by 167%, creating a funding gap of 142%.
Although the Governor approved a further increase to N60 million in June 2025, the delay left the Corporation struggling to cover accumulated arrears and overhead expenses totaling over N163 million by September.
The Committee revealed that BCOS’s current monthly wage bill stands at N101 million, with pension payments alone consuming 45.77% of its subvention.
As of October 2025, the Corporation owed pension arrears amounting to N130.2 million.
In response to the shortfall, BCOS resorted to selective salary payments based on grade levels, further compounding the financial crisis.
Beyond wage issues, the Committee noted that BCOS generates revenue from airtime sales, advertisements, and property leases which are limited considering the increased number of Media houses.
The Committee commended the Corporation for judiciously utilizing its limited resources to sustain operations and offset financial shortfalls.
The report also highlighted that BCOS had not accessed any appropriated capital funds in the past seven to eight years, which has adversely affected its operational efficiency.
In its recommendations, the Committee urged Governor Makinde to consider a further increase in BCOS’s monthly subvention to align with its current financial obligations.
It also called on BCOS to fully capture all revenue-generating activities in its annual budget, strengthen internal financial management and reporting systems, and develop a long-term financial sustainability plan to reduce dependence on government funding.
The House expressed appreciation for Governor Makinde’s support thus far and emphasized the need for continued intervention to ensure the Corporation’s financial stability and the welfare of its staff and retirees.
