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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

“PDP Can’t Unseat Tinubu with Wike in Charge” — Ulasi Blows Hot, Threatens Exit

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A chieftain of the Peoples Democratic Party, Dan Ulasi, has warned that the party stands little chance of defeating President Bola Ahmed Tinubu in the 2027 general elections if Nyesom Wike continues to play a leading role while allegedly supporting the ruling government.

Ulasi, who spoke during an interview on Arise TV on Thursday, expressed deep concern over what he described as a “contradictory situation” within the PDP, stressing that such internal inconsistencies could weaken the party’s credibility and chances at the polls.

ALSO READ: ‘I Didn’t Mean It Literally’ — Nyesom Wike Clears Air as Atiku Abubakar Fires Back

“I don’t see my party as presently constituted challenging Tinubu with Wike as national leader,” Ulasi said, warning that he may be forced to leave the party if the issue is not addressed.

The PDP stalwart argued that Wike cannot effectively serve as a leader in the opposition while maintaining close ties with President Tinubu, describing the situation as “unconstructive” for a party seeking to reclaim power at the national level.

He further questioned what role Wike would play if another candidate emerges as the PDP’s presidential flag-bearer ahead of the 2027 election, asking whether the former Rivers State governor would actively participate in party rallies or align with the ruling party’s activities.

Ulasi warned that the party’s next meeting could be his last if its leadership fails to provide satisfactory explanations, insisting that he cannot continue to be part of a process riddled with contradictions.

In a related development, Ulasi revealed that Peter Obi had visited him several times this year, including a recent meeting following an appearance in Enugu.

He spoke positively about Obi’s vision for Nigeria, noting that the former presidential candidate offers a sense of hope for the country’s future, although he stopped short of declaring any political alignment.

Reflecting on his longstanding ties to the PDP, Ulasi recalled his role during the party’s formation alongside late former Vice-President Alex Ekueme and other founding members.

Despite his deep connection to the party, he maintained that he would rather step aside than remain in a system he considers inconsistent.

He added that if he eventually exits the PDP, he has no plans to join another political party, stating that he would instead operate as a private consultant.

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Politics

Drama in Ogun APC as Gbenga Daniel Claims He Was Barred From Meeting

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There was tension within the Ogun State chapter of the All Progressives Congress (APC) on Monday after former Governor and Senator representing Ogun East, Otunba Gbenga Daniel, alleged that he was barred from attending a stakeholders’ meeting of the party held in Ijebu Ode.

The meeting, which took place at Adeola Odutola Hall, was reportedly convened to bring together key party stakeholders, including current and former local government chairmen, councillors, and serving as well as former lawmakers from both state and national levels.

However, the senator, in a viral video circulating online, claimed he was denied entry into the venue despite being part of the expected attendees.

ALSO READ: “APC Failure in Disguise?” — Dickson Tears Into ADC Coalition

Speaking from his branded campaign bus parked at the venue, Daniel expressed disappointment over the situation, saying he and his team were stopped from accessing the meeting.

He further questioned the legitimacy of any resolutions reached at the gathering, suggesting that the outcome of the meeting should not be considered valid.

As of press time, the Ogun State APC leadership had yet to issue an official response to the allegation.

 

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Politics

Who Leads ADC? Supreme Court to Hear Mark’s Appeal in Heated Party Rift

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The lingering leadership crisis within the African Democratic Congress (ADC) is set for a crucial legal test as the Supreme Court of Nigeria prepares to hear an appeal filed by former Senate President, David Mark.

Mark is challenging a legal action brought by a former Deputy National Chairman of the party, Nafiu Bala, over the control and leadership structure of the ADC.

The case, scheduled for hearing on Tuesday, is expected to determine the direction of the party amid deepening internal divisions.

SEE MORE: 2027: Why ADC, Opposition Leaders Stormed INEC in Abuja

Through his lawyer, Realwan Okpanachi, Mark is seeking an order to stay the execution of a Court of Appeal judgment delivered on March 12, pending the final resolution of the matter.

He also urged the apex court to restrain the Independent National Electoral Commission (INEC) from making any alterations to the party’s leadership as currently constituted under his faction.

In addition, Mark is asking the court to suspend further proceedings in a related suit before the Federal High Court in Abuja, presided over by Justice Emeka Nwite.

The dispute dates back to a September 4, 2025 ruling by the Federal High Court following an ex parte application filed by Bala, which has since fueled competing claims to the party’s leadership.

The ADC has, in recent months, been embroiled in a bitter factional crisis, with rival camps asserting legitimacy.

The situation has been worsened by conflicting court orders and administrative uncertainty surrounding who truly leads the party.

Tensions escalated after INEC reportedly removed Mark as the party’s national chairman from its official records, sparking protests by his loyalists.

The demonstration drew prominent political figures, including former Vice President Atiku Abubakar, ex-Osun State Governor Rauf Aregbesola, former Anambra State Governor Peter Obi, and former Rivers State Governor Rotimi Amaechi.

In response, the Bala-led faction staged a counter-protest, insisting on recognition by INEC as the legitimate leadership of the party.

As the battle shifts to the Supreme Court, political observers say the outcome could decisively shape the future of the ADC, particularly as political alignments begin to take form ahead of upcoming elections.

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