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December 15, 2022

N18bn: Adeleke, Oyetola renew bickering over Osun loan stock, debt profile 

N18bn: Adeleke, Oyetola renew bickering over Osun loan stock, debt profile 

Oyetola left no kobo, took N18bn loan after losing election – Adeleke

Adeleke lied, I never borrow a dime – Oyetola

Shina Abubakar, Osogbo

Osun State Governor, Ademola Adeleke and the immediate past governor of the state, Gboyega Oyetola have resumed a renewed bickering over the state debt profile. 

Adeleke on Thursday, during a meeting with Osun State Traditional Rulers in Osogbo, alleged that Oyetola took N18 billion loan after he lost the July 16th, 2022 Osun governorship election.

Read also: Again, Adeleke, Oyetola bicker over looting of governor’s lodge

The governor also disclosed that the state is indebted to the tune of N407.32 billion as of November 30th, 2022.

Adeleke added that his administration inherited eight outstanding loan facilities, apart from salaries and pension debts, from Governor Oyetola’s administration.

According to Adeleke, the repayment period for the loan facilities ranges from 16 months to about 28 years.

He said, “My good people of Osun state, the total loan stock as of today is N331.32 Billion.

“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.

He added, “Governor Oyetola must explain how the N331 Billion borrowed in the name of Osun State was expended, with no obvious infrastructural development to justify this huge debt.

“Governor Oyetola must explain how the N18 Billion Bridge Loan taken after he lost the election on July 16, 2022, was expended.

“Governor Oyetola must also explain why Osun state is owing salaries and pension to the tune of N76 Billion after collecting a N50 Billion Salary Bail Out Loan from the Federal Government

“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.”

Meanwhile, Oyetola has described claims by Adeleke, that he borrowed N18 billion after losing election in July, as a lie.

Adeleke had earlier claimed that not a Kobo of the loan was left behind neither was the repayment plan stated.

But, Oyetola while speaking with Vanguard through his spokesperson, Ismail Omipidan said Governor Adeleke has further exposed his lack of understanding of governance, stressing that Oyetola did not borrow a dime throughout his four years tenure.

His words; “I insist for the umpteenth time that my principal never took any loan facility for the four years he used in office. The claim by the new governor shows clearly that he lacks understanding of how government is run. 

“If you go to my principal welfare address he stated it clearly, that like every other state, we benefitted N3billion on monthly basis for six months from the Federal Government as budget support. This money was given to all the 36 states of the federation without requesting. You can not categorize that as loan. 

“The new governor does not understand the working of government and he should have allow those that understand the rudiment to explain it to him, So that he won’t be coming to the public to embarrass himself.”

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