Governor of Osun State, Ademola Adeleke, has continued his bickering over State’s debt, revealing that Gboyega Oyetola, his predecessor, took N18 billion loan after he lost the July 16th, 2022 Osun governorship election.
Adeleke also disclosed that the state is indebted to the tune of N407.32 billion as of November 30th, 2022.
According to him, his administration inherited eight outstanding loan facilities, apart from salaries and pension debts, from Governor Oyetola’s administration.
Adeleke explained that the repayment period for the loan facilities ranges from 16 months to about 28 years.
“If the N76 billion debt on salaries and pension are added, the state is indebted to the tune of N407.32 billion. The amount owed to contractors is yet to be determined.
The only fund in government coffers, as of Monday 29th November, was for November 2022 Salary. Otherwise, the state treasury was empty.
“As your governor, I will ask questions on your behalf. And will demand answers,” Adeleke told the traditional rulers.
“Governor Oyetola must explain how the N18 Billion Bridge Loan taken after he lost the election on July 16, 2022, was expended.
“The creditors, especially the Commercial Banks must explain why various loans were given to an administration beyond its 4-year tenure. 28 years is equivalent to the tenure of at least four governors. A child that is born today would have earned a Ph.D. at 28 years of age. This is nothing but mortgaging the future of Osun State with nothing to show for it. This is definitely not acceptable.”
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