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Osun Is Indebted To The Tune Of N407.32 Billion – Governor Adeleke

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Ademola Adeleke Becomes Sixth Executive Governor of Osun State

 

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.”

Politics

2027: Tinubu Will Defeat Atiku If Election Is Rigged — Babachir

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Former Secretary to the Government of the Federation (SGF), Babachir Lawal, has claimed that President Bola Ahmed Tinubu would emerge victorious against former Vice President Atiku Abubakar if the 2027 presidential election is determined by electoral manipulation.

Lawal made the statement during an appearance on Channels Television’s Politics Today on Monday, where he weighed in on the growing political permutations ahead of the next general election.

According to him, no politician in Nigeria currently possesses the capacity to outmaneuver Tinubu if election rigging becomes the deciding factor in the race for Aso Rock.

ALSO READ: VDM in Trouble as Presidency Seeks Legal Action Over Alleged Fake Tinubu Audio

“If the parameter for winning elections in Nigeria is rigging, nobody can face Bola Tinubu in this country. If Atiku’s strength is in manipulating results, I wish him luck; he will meet the master rigger in front,” Lawal said.

The former SGF further argued that President Tinubu would record a landslide victory if the election outcome were determined by such means, describing the president as a formidable political strategist.

Lawal also took a swipe at Atiku Abubakar, distancing himself from the former vice president’s political ambition and insisting that he would not support his bid for the presidency.

He stated that after studying Atiku’s political history and leadership record, he believes an Atiku administration would perform worse than the current government led by Tinubu.

“I have studied his antecedents and realised that his presidency will be worse than Bola Tinubu’s,” he said.

The former SGF also criticised Atiku for what he described as insufficient engagement with Nigeria’s worsening security situation, including recurring cases of kidnapping and violent attacks in different parts of the country.

Despite his criticism of both Tinubu and Atiku, Lawal maintained that he is yet to endorse any presidential aspirant ahead of the 2027 election.

“I am supporting nobody. I don’t want to be part of anything for now,” he stated.
His comments come shortly after his resignation from the African Democratic Congress (ADC), where he accused the party of manipulating its recent presidential primary in favour of Atiku.

Lawal alleged that results from the exercise were altered to produce a predetermined outcome, claiming that candidates who won in some areas were replaced by individuals loyal to the former vice president.

He said the alleged irregularities influenced his decision to leave the party, which he described as a “rigging machine” ahead of the 2027 elections.

However, the ADC leadership has denied the allegations, insisting that the primary election was conducted transparently and reflected the wishes of party members.

 

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‘You Can’t Fool Nigerians Anymore’ — Wike Blasts ADC, NDC

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Minister of the Federal Capital Territory (FCT), Nyesom Wike, has launched a fresh attack on opposition political parties, accusing them of deceiving Nigerians and failing to live up to the democratic standards they claim to represent.

Speaking during his monthly media briefing in Abuja on Monday, Wike said recent controversies surrounding the primaries of the African Democratic Congress (ADC) and the Nigeria Democratic Congress (NDC) have exposed what he described as the hypocrisy and lack of credibility within the opposition camp.

SEE ALSO: ‘PDP Can’t Unseat Tinubu with Wike in Charge’ — Ulasi Blows Hot, Threatens Exit

According to the former Rivers State governor, parties that have consistently presented themselves as the “new face of democracy” and a credible alternative to the ruling All Progressives Congress (APC) are now grappling with the same internal crises they often criticize in other political parties.

“You can’t fool Nigerians anymore,” Wike declared, insisting that the opposition’s claims of being different from the established political parties have been undermined by disputes and protests that trailed their internal elections.

He questioned the ability of the parties to provide effective leadership if they could not successfully conduct transparent and peaceful primaries.

Wike specifically pointed to complaints raised by some presidential aspirants during the parties’ congresses, arguing that the allegations of irregularities and unfair practices showed that the opposition was not immune to the political shortcomings it frequently condemns.

The FCT minister said Nigerians are increasingly becoming aware of what he called inconsistencies in the opposition’s messaging, stressing that parties cannot market themselves as political “messiahs” while struggling with internal democratic processes.

He further argued that the developments reinforce the relevance of older political parties that have spent years navigating Nigeria’s political landscape.

While noting that both the Peoples Democratic Party (PDP) and the APC have faced criticism in the past, Wike maintained that experience remains an important factor in sustaining democratic institutions and managing political competition.

The minister’s remarks come amid heightened political activities and realignments ahead of the 2027 general elections, with opposition parties seeking to position themselves as strong contenders against the ruling APC.

 

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Fresh ADC Twist: Faction Rejects Atiku Camp, Picks Chris Uba for 2027 Presidency

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A fresh twist has emerged within the African Democratic Congress (ADC) ahead of the 2027 general elections, as a faction of the party has rejected the camp backing former Vice President Atiku Abubakar and instead unveiled businessman and academic, Prof. Chris Uba, as its presidential candidate.

The development comes days after another wing of the party reportedly produced Atiku as its presidential flagbearer following a nationwide primary election, deepening the leadership and candidate dispute within the ADC.

SEE ALSO: Atiku Floors Amaechi, Hayatu-Deen to Clinch ADC 2027 Presidential Ticket

Speaking during the formal presentation of candidates in Abuja on Sunday, the faction’s National Chairman, Bala Gombe, said the presidential ticket was zoned to Southern Nigeria in line with the principles of equity, fairness, inclusiveness, and federal character.

According to Gombe, three aspirants initially purchased the party’s Expression of Interest and Nomination Forms to contest for the presidential ticket.

They included Dr. Bashir Sani, Prince Williams Charles, and Prof. Chris Uba.

He explained that the party adopted the consensus option provided under the Electoral Act, leading to the emergence of Uba as the sole presidential candidate after the withdrawal of the other aspirants.

Gombe stated that the decision was taken in the interest of party unity and in compliance with relevant provisions of the Electoral Act, which recognize consensus as a lawful method of candidate selection.

He further announced the unveiling of 29 governorship candidates across the six geopolitical zones, saying they emerged through the party’s internal democratic processes.

Among those presented were Muhammad Usman Shuwa (Adamawa), Idris Adamu Yanoko (Kano), Shamsudin Muhammad (Kaduna), Ibrahim Al-Ameen Gumi (Zamfara), Babagana Mala (Borno), Musliu Babadele (Lagos), Rukayya Salami (Osun), Gbenga Gbenga (Oyo), Gada Suswan (Benue), Dijatu Abdul Salam (Nasarawa), and Christopher Benjo (Delta), among others.

The faction maintained that it had successfully concluded its governorship, National Assembly, and State House of Assembly primaries nationwide in accordance with the Constitution, the Electoral Act, and the party’s electoral guidelines.

The latest development signals growing internal divisions within the ADC as political parties intensify preparations, coalition talks, and strategic realignments ahead of the 2027 general elections.

Founded in 2005, the ADC has continued to position itself as an alternative political platform while seeking to strengthen its structures and expand its influence across Nigeria.

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