Politics
Osun Is Indebted To The Tune Of N407.32 Billion – Governor Adeleke
Osun State Governor, Ademola Adeleke has disclosed that the state is indebted to the tune of N407.32 billion.
Briefing traditional rulers at their monthly meeting at traditional rulers chamber inside the State Government Secretariat on Thursday, the Governor said his predecessor must explain why the state is owing salaries and pensions to the tune N76 billion having gotten N50 billion as bail out for salary.
He said the state owed N331.32 billion while salaries and pensions owed workers amount to N76 billion.
Adeleke explained that the repayment period for the loan facilities ranges from 16 months to about 28 years.
“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.”
According to his statement, while the loans categorized under Budget Support Facility, Salary Bail Out Loan, Restructured Commercial Bank Loans, Excess Crude Account (ECA) Loan, CBN Infrastructure Loan, FGN Intervention Loan, already have a repayment structure plan ranging from 17 months for FGN Intervention Loan, to as much as 27 years and 9 months for the Budget Support Facility loan, the Foreign loans: $86.2m have no repayment plan information and the FGN Bridge Finance Facility took out after July 16th, 2022 to the tune of N18.04 Billion, after the ex-governor had lost his reelection bid, also has no repayment plan.
According to Governor Adeleke, “Not one kobo of these loans were left in Government Coffers, when the Deputy Governor and I resumed work on Monday 29th November 2022. No explanation on how the loan was expended.”
The Lagos State High Court sitting in Ikeja has declared the removal of the reinstated Speaker of the State House of Assembly, Mudashiru Obasa, as illegal, unconstitutional, null, and void.
Delivering judgment on Wednesday, the court also set aside all proceedings and resolutions passed by the House on January 13, 2025, the day Obasa was removed from office.
Obasa had dragged the Lagos State House of Assembly and Mojisola Meranda — who was appointed Speaker following his removal — before the court, challenging the legality of the action.
READ MORE: Court Adjourns Obasa’s Suit Challenging Removal As Lagos Speaker To March 10
In its ruling, the court held that the process leading to Obasa’s removal did not comply with constitutional provisions, rendering the exercise invalid.
The judgment effectively reinstates Obasa as the legitimate Speaker of the Lagos State House of Assembly, while invalidating all legislative actions carried out during Meranda’s brief tenure.
With permutations for 2027 elections already play high on the cards of Nigerian politicians, Edo State Governor, Senator Monday Okpebholo is banking on Edo and Delta States to team up and swing victory for President Bola Ahmed Tinubu’s re-election.
Biztellers reports that his calculation is informed by the massive defection of notable politicians into the ruling All Progressives Congress (APC) in both States.
Gov Okpebholo made the assertion while welcoming the Chairman of the Niger Delta Development Commission (NDDC), Chiedu Ebie, who led the members of the Unity Group to join the APC.
Notable among other party stalwarts at the occasion were the National Chairman of the APC, Abdullahi Ganduje and the party’s South-South leaders.
ALSO READ: Oyo Police Arrest Three Over Hijacking Of Petrol-Laden Truck
According to Okpebholo “just like Edo, Delta is ready to witness practical governance under APC.”
Beaming with joy, Gov Okpebholo added, “It is our turn to shine in the South South. It is now your turn in Delta. It is happening here, as it happened in Edo State. President Bola Ahmed Tinubu is doing very well for the nation. He is repairing the foundation of the country for better prosperity. Because of that, in Edo State, we have started. We said 2027 is already possible. It is also possible here in Delta. I am here to welcome my brother, Chiedu Ebie.
“Chiedu is an intelligent young man who knows when to move. It is time for Delta to move, and it is starting here with Ika people.”
Receiving the decampees, Alh Ganduje, described the Delta Unity Group as great fighters of democracy, who have provided a strong vehicle that will lead APC to the Delta State Government House in 2027.
According to the APC national Chairman, “we have the three Senators now. We have members of the House of Representatives and State Assembly members, and over 60 percent of the followers of PDP have now joined the APC. We are assured of taking over this State come next election.
“We are not surprised because of the timber and caliber of politicians you have in Delta State in the APC. What we require now is unity. Unity of purpose and unity to win election. So we can provide quality governance to the people of Delta State.
“Very soon, we will organize a stakeholders meeting for all those major stakeholders because they are all good people. They are all wise people. They are all intelligent people, and they are all democrats. So, all of them will be convened for unity, like the Delta Unity Group.”
On his part, the Chairman of the NDDC Governing Board, Ebie, noted that their conviction to join the party was borne out of the love for good governance and party inclusiveness which the President Bola Ahmed Tinubu has demonstrated.
Earlier, while at the Palace of the Dein of Agbor, Dr Benjamin Ikenchukwu, the Keagborekuzi the first, called on President Bola Ahmed Tinubu to ensure peace and security across the country for the needed development in the country.
Present at the rally were Senator representing Delta North, Ned Nwoko; Chairman House Committee on NDDC, Hon. Teke Ibori-Swenu; former Deputy Senate President, Omo Agege, among other party big wigs.
Edo State Governor, Senator Monday Okpebholo has assured that his administration would do everything within its powers to take care of Edo State civil servants and make them happy.
He made the pledge on Friday when he received Executives of Nigerian Labour Congress (NLC), Edo State Chapter, led by its Acting State Chairman, Comrade Bernard Egwekhide.
Egwekhide said they were in Government House to congratulate the Governor on his recent victory at the governorship election tribunal that affirmed his victory in the September 21, 2024 governorship election.
On his part, the Governor said whatever Edo State workers are enjoying in the state is the responsibility of his administration to do because it is worker friendly.
ALSO READ: Uromi Killings: FG, Edo State Set Up Fact-Finding Committee
Okpebholo said, “Whatever we are doing, which is favouring Edo workers, is done because it is our responsibility as a government. Edo people voted for us to work for them, and that is what we are doing to ensure life is made better for our people, including the workers.
“We embrace transparency in all what we do as a government to enable the people to trust us as we are not afraid of criticism. Positive criticism will put us on our toes to work harder for Edo people.
“The renewed hope agenda of the president has given us room and platform to perform and serve Edo people better as we embark on practical governance.
“We are doing everything in the State to ensure peace, unity, growth, and development. That is why we ensure smooth collaboration amongst the three tires of government. In all we do in the State, we ensure the three Senatorial zones are carried along.”
The NLC acting chairman, Egwekhide, commended the Governor for his developmental strides and the friendly environment created for Edo State workers to operate.
He said the visit was necessary as the body had come to congratulate the Governor for his deserved victory at the election petition tribunal in Abuja.
According to him, “Workers in Edo State are proud of you for the developmental strides in the State. You have created a friendly relationship between your administration and Edo workers as you have always taken steps to favour Edo State workers.
“Without asking, workers received their 13th month. You raised the subvention of Ambrose Ali University (AAU) from N41 to N500 million. You regularized casual workers in Edo State. You increased what is due pensioners monthly from N50 million to N1 billion naira for both local and State pensioners.”
He noted that a committee has been set up to look into the compulsory pension scheme, which has become a burden on retired civil servants, adding that the report will be submitted to him for his action.
“We thank the governor for several employments given to our people in the very short time in office,” he added.
In a related development, Gov Monday Okpebholo also received the new branch controller, Central Bank of Nigeria (CBN), Edo State, Apanke Utande who was on a courtesy visit to Government House, where the Governor urged him to collaborate with his administration to improve the lives of Edo people.
Gabonese Striker, Aaron Boupendza Dies After Tragic Fall In China
BREAKING: Again, Dangote Cuts Petrol Price To N835 per Litre
Dangote Cement Emerges Platinum Winner Of ICAN, NGX’s Corporate Reporting Award
JUST IN: Court Nullifies Removal Of Lagos Assembly Speaker Obasa
NGX Group Celebrates Former Directors, Moves To Strengthen Collaboration
