By Gabriel Enogholase

BENIN—EDO State Government has said that it did not borrowed money, either internally or externally, to put the financial status of the state in a precarious state, adding that the only loan taken by it was the N25 billion for the execution of the Benin City Master Water Storm which was almost liquidated.

Senior Special Assistant to Governor Adams Oshiomhole on Public Affairs, Mr. Donald Iwalumhe, insisted that Edo State’s debt profile was the least when compared with those of other states in the South-South geopolitical region and other oil producing states.

He said: “Oshiomhole’s critics as far as the debt profile of Edo State is concerned are simply mischievous. The only loan Governor Oshiomhole took since he came into office is the N25 billion bond from the Capital Market for the execution of the Benin –City Water Storm Project in December, 2011.

“He has paid back N7bn and as at today, what is left of the debt is less than N5 billion.”