THE Peoples Democratic Party, PDP has
urged the Senate and the House of Representatives to
reject in its entirety, the proposed $75 million credit
loan which amounts to N14.7 billion from the World
Bank for Edo State, just as it warned that if granted, it
would impoverish the state.
Speaking with Journalists yesterday in Abuja,
Chairman, PDP, Edo State, Chief Dan Orbih who
noted that this was not the time for what he termed
endless borrowing against the backdrop that the
state forms one of the most indebted states.
Also yesterday, two Senators from Edo State
disagreed sharply on the proposed loan.
Speaking to Vanguard yesterday, the Senate Deputy
Chief Whip, Senator Francis Alimikhena, APC, Edo
North described the loan as very important and time,
just as he stressed that the previous ones have been
useful and effectively executed in carrying out world
bank projects in the state, warning that people
should not play politics with the proposed loan.
But disagreeing with his colleague, Senator Matthew
Uroghide, PDP Edo State stressed the need for
verification of the previous tranche to ascertain if the
loan was used properly and for what it was given it
for, adding that Edo State cannot afford to go for
such a loan now when it was presently groaning as it
cannot pay salaries.
Also disagreeing with the proposed loan, Senator
Clifford Ordia, PDP, Edo Central who opposed the
request on the grounds that it will plunge the state
into further indebtedness, stressed that if the loan
was approved, it would raise the Edo State’s debt
profile under Oshiomhole to N44.1 billion ($225m) in
World Bank.
President Muhammadu Buhari had written to the
Senate requesting for the approval to obtain a total of
$75 million credit loan amounting to N14.7 billion
from the World Bank for Edo State.
According to the president, the proposed loan facility
of $ 75 million would be a second leg of a
Development Policy Programme the World Bank had
approved in 2012 which was a total sum of 225million
dollars ( N44.1 billion ) to Edo state government
designed to be implemented in three tranches of
75millon per annum.
Speaking further, Orbih who called on the national
assembly to first verify what happened to the first
tranche, said, “I want to call on the leadership of the
Nigerian Senate to kindly reject the request for Mr.
President to grant this money to the Edo state
government. The issues that comes to mind at the
mention of this loan are; what is the governor going
to use this loan for? How has he utilized previous
loans obtained by his government because you must
look at what he has done with the previous facilities
he has taken before considering offering him any
new financial lifeline.
“Don’t forget not too long ago, he went to the capital
market to obtain 35 billion loan for the Benin water
storm project as we speak the only thing after paying
out billions of naira in respect of that project all that
is visible today in Benin city is the pool of stagnant
water littered all over Benin city and the attendant
emergence of what people now refer to as
Oshiomhole mosquitoes, very stubborn and deadly
mosquitoes that is what that project has brought to
the city.
“There is nothing to show that the 35 billion which he
took for the capital market for that particular project
has been utilized. So what is he talking about 75
million dollar loan? In fact what the governor is
asking the Senate to grant him permission to access
is not up to what he collects as security votes for
undisclosed security challenges, it is on record, the
vouchers and related documents showing that
Oshiomhole takes up to an average of 500 – 700
million every month for what he refers to as urgent
security challenges, what these challenges are never
disclosed and from the records available to us from
the police headquarters Edo state since he came into
power has never witnessed any major, urgent
security challenges that will warrant the expenditure
of 20 million in a month talk less of 500 – 700 million
in a month.
” So we see this request by Oshiomhole presented to
the Senate by the president as a request to further
impoverish the good people of Edo state, to further
drive the state into a bottomless pit of ineptness
occasioned by his mismanagement and
misappropriation of his government.We call on the
leadership of the Senate to reject this request and it
is time for all hands to be on deck to check the
declining economic fortunes of this country. This is
not time for needless borrowing by government and
government institutions. So, I think what Edo people
expect from the senate leadership is to reject this
request.
“More so, it is coming from the means of a previous
rejection by a minister, we are aware that the former
minister of finance, that great lady of distinction had
earlier reviewed this request, an informed position of
a renounced economist. She analysed this request
and rejected and declined to approve this request.
Going through the back door now by way of request
to the Senate is Oshiomhole’s antics of wanting to
play smart, the world is now aware why Oshiomhole
has be launching an attack on that woman of distinct,
I think she can now laugh loud now that the actual
reason for the recent uncontrolled attacks by
Oshiomhole on her person is arising for this request
which Oshiomhole made earlier which she turned
down.
“That request was made when elections were
approaching it was the last presidential, national
assembly and state assembly election were
approaching and it was turned down by Okonjo
Iweala. Now that Edo people are gearing up for the
governorship election in early 2016, he has presented
it again, to me it is clear signal that Edo state is broke
and I think rather than resorting to this financial
palliatives that the new government to state
government, the government should come out boldly
to challenge some of these state governments, ask
questions what they have done with the previous
money granted them, allocations, excess crude
account, IGR, they have various ways this
government has generated money to say the list.
“Today I make bold to state that Edo state has
borrowed so much in the past that for over 5 years
now the people got into agreement that a particular
sum should be deducted as funds anytime the state
is receiving its allocation. It is sad to state here that
for over 5 years, the sum of 520 million is being
withdrawn as source as part of the mandatory
obligation to institutions the state government has
borrowed money from. When it became clear that
the government on its own wasn’t prepared to
service these debts the issue was brought to the
attention of the former minister and a meeting was
arranged where the state government agree that they
withdraw 520 million to service previous loan.
“So if this loan is granted I am sure the state maybe
giving up to 800 million on monthly basis to service
all these numerous loans they have taken and it is
really sad that there is nothing on ground in Edo
state today to justify the huge debt profile of Edo
state which is put at approximately 250 billion.
” These are figures that have continued to emerge
from various quarters and the government hasn’t
been bold enough to come out with the actual figure
of our debt profile, but no one can take away the fact
that the debt profile of Edo state is huge and
unbearable because for over 5 years if they can be
paying 520 million every month from source and
from the information available to us that money will
continue being deducted well after Oshiomhole has
left office, it means we already have a very huge debt
profile and I challenge the government to come out
with all relevant document about the actual status of
Edo state profile.”. www.vanguardngr.com/2015/08/pdp-senators-disagree-over-proposed-n14-7-world-bank-loan-for-edo/

pls cal me in case this hits FP...

DNT REALY UNDERSTAND MORE THAN MY MIND IS TELLING ME NOW.INDEBTING EDO SHOULD INCASE THEY LOOSE IT TO PDP NEXT YEAR?OR AN AVENUE FOR OSHIO TO RECOVER SOME OF THE MONEY HE USED IN SUPPORTING BUHARI,SINCE HE CANT HAVE FOR 4 MORE YEARS TO DO SYSTEMATIC LOOTING.

That is what PDP lawmakers are there for, to antagonize all APC agenda and policies.very soon they wil extend their antagonism to PMB just to frustrate his government, that is why Saraki/Ekweremadu can nt remain in senate presidency.they wil frustrate PMB anti corruption campaign.
SAI Tinubu!!!

That is what PDP lawmakers are there for, to antagonize all APC agenda and policies.very soon they wil extend their antagonism to PMB just to frustrate his government, that is why Saraki/Ekweremadu can nt remain in senate presidency.they wil frustrate PMB anti corruption campaign.
SAI Tinubu!!!!

This is very annoying. The PDP should hands off Osho's part of the loot. Do they know how much work and lack of integrity went into Oshi's flimsy attempt to discredit the last administration. Thank god they didn't disturb his marriage to the sleeper cell agent he calls his wife. They already managed to split Tinubu's gain in half, although the world bank loan to the Lagos state government is more than enough. The Borno elders and their govenor have gotten their own cut, so why shouldn't Osho get his. Where were they when Nigerian's current candidate for Most Ingeniously Corrupt govenor, Mallam El rufai was sharing his own part of the largesse. And besides we all know they together with their counterparts in the ruling party dipped their hands into the ECA while cajoling us into thinking it is from the NLNG tax.
So please let Osho have his porridge. Afterall he deserves it

Oshiom-ole and Boko-hari. Ka Kaya kombinatia!

Oshiomole must be High on Auchi weed.

He wants to accumulate debt for whoever his predecessor would be.

GOD help Edo State