CLEARED: Presidency’s Debt
Management Office gives Osun clean
bill of health
*Say’s it’ll introduce Osun’s Sukuk to other
parts of Nigeria…
Director General of the Debt Management Office
(DMO) Mr. Abraham Nwankwo
Contrary to persistent claims by the candidate of
the Peoples Democratic Party, Mr. Iyiola Omisore
who alleged that Osun’s government under
Governor Rauf Aregbesola is indebted to the tune
of over N350bn, the Debt Management Office
(DMO), in Abuja has said Osun’s debt profile is a
very sustainable one which is healthy for its
economic growth.
Dr. Abraham Nwankwo, who is the Director
General of the DMO in the Presidency disclosed
that the state is one of the best states in the
federation with public debt management,
describing the claims to heavy debt burden in
Osun as mere propaganda and hoax.
Fielding questions from newsmen at MicCom Golf
Hotel and Resorts, Ada, Osun State during a three
day retreat for members of the House Committee
on Aids, Loans and Debt Management, Dr.
Nwankwo declared that Osun State status is very
sustainable.
A former Head of Service under the Aregbesola
administration, Elder Segun Akinwusi, had equally
built and sustained his campaign for the
governorship seat on the claim that Osun
government owes over N350bn.
The state government had severally told the
world that only those ignorant of operations of the
financial world would agree that a bank can give
a state or individual loans more that its capacity
to pay both interest and the principal.
Nwankwo who did not give figure on the actual
debt figure of the state explained that the state
needed to be encouraged in term of management
of debt because it has not borrowed beyond its
capacity.
The DMO boss said that Osun State is one of the
states in the federation with good and stable
public debt management adding that his office
recognizes Osun State as the first state to take
Sukuk and “by our plan to encourage the
issuance of Sukuk in Nigeria because, we need to
diversify the instrument in the bond market.
“We want to make sure that all segments of the
society is captured in the bond market because
there are some groups of people or individuals
who do not want to participate in ordinary bond
because of interest.
“Our office, DMO and others are working hard to
introduce Sukuk in Nigeria. We are delighted that
Osun took the initiative and helped in introducing
it in Nigeria. So, by that, Osun is one of the best
states in public debt management.”
He also stated that the nation’s debt GDP ratio
has fallen from 22% to 13%.
He added that “our debt is sustainable because
GDP is much lower now. However, in spite of that,
government will continue to be very prudent,
conservative in its spending.”

berem: Where's Evergreen123 aka Ngozi? I have opened a thread for you about Osun State. Your attention is needed here!

BABAKABIRU301: BEREM THE apc REPORTER PLS WHERE IS THE PICTURE OF THE SPEAKER? .SILLY REPORT.

Neyoor: Nice one ! Waiting for those PDP mumu to hijack dis thread with an opposing opinion.


Even GEJ, Obanikoro, Omikomi cannot stop me from voting Aregbesola come August.

BABAKABIRU301: BEREM THE apc REPORTER PLS WHERE IS THE PICTURE OF THE SPEAKER? .SILLY REPORT.

mrjangaweed:

And you think your useless thumbprint represent the whole of osun state

justhelp: i said it i knew they are coming, so, is that what you have to say? picture of the speaker is what you need not what he said, fool @ your age

Punch Newspaper APRIL 18, 2014 BY ADE ADESOMOJU:

40% reduction in Osun’s federal allocation unjustifiable – Aregbesola


Governor Rauf Aregbesola of Osun State has described as unjustifiable a 40 per cent reduction in the federal allocation being received by the state since July 2013.
Aregbesola spoke in Lagos on Thursday during the launching of a book, ‘Yoruba Elites and Ethnic Politics in Nigeria: Obafemi Awolowo and Corporate Agency.’ The book was written by an associate professor at the University of California-Davies, Wale Adebanwi.
The governor said the reduction had no basis as the nation’s oil revenue did not fall.
He said, “If there is anything my state does not have now, it’s money. We are managing with 40 per cent reduction in our allocation from the Federal Government. It is not as if I even enjoy saying I depend on the federal allocation, but the truth is that there is no magic that I would have made to suddenly taken our state out of dependence on the federal allocation.

Punch: “It is important for us to know that there is no justification for that 40 per cent reduction in our allocation. The price of crude oil has remained almost the same at $108 per barrel, and the benchmark, according to them, is $75 per barrel.”

Punch: According to the governor, the state is now being forced to source for funds outside the federal allocation in order to meet its responsibilities of paying the entitlements of civil servants and retired workers.
He said, “So we are not close to the benchmark of $75 and yet since July of last year, there is a 40 per cent reduction in our allocation. What that translates to I will tell you.
“It means I have to get N5.4bn to augment salaries and pension from July to December; N5.4bn extra, outside allocation, to ensure that since civil servants who are still active and those who have retired are paid their entitlements.

Punch: “What I receive from federation account is not sufficient to pay salaries.”

Punch: The governor, who represented a former governor of Lagos State and National Leader of the APC at the event, Bola Tinubu, who was the chief presenter of the book, bought copies of the new book at N5m on behalf of the Osun State.
He bought copies of the book on behalf of himself with N500,000 and announced N2m for the launching of the book on behalf of Tinubu.

LeOstrich: Osun Defender?

berem: inasmuch as I have vowed to ignore peeps like you,I will quote and reply you because this is my thread.
This is not a propaganda because I watched it on TV today where the DMO boss was interviewed and he cleared the air on the baseless allegation by the corn eater Omisore.
If you wanna watch a repeat of the news,tune in to TVC by 10pm tonight.


Please do not derail my thread!

LeOstrich:

stop spewing crap!

The DMO is not in any way authorized to declare the level of insolvency of any state. Only the CBN can stop any state from accessing any credit faccility in the money market as the CBN rightfully did in respect to blacklisting Imo State (A supporter of APC state) from further accessing loans.

BTW you are just regurgigating b.s. and expect everybody to take a huge tongue swipe.

berem: Please do not derail my thread!

berem:

Ignore mode activated!

Odenni Rauf aregberascal himself:

According to the governor, the state is now being forced to source for funds outside the federal allocation in order to meet its responsibilities of paying the entitlements of civil servants and retired workers.[/b]
He said, “So we are not close to the benchmark of $75 and yet since July of last year, there is a 40 per cent reduction in our allocation. What that translates to I will tell you.
[b]“It means I have to get N5.4bn to augment salaries and pension from July to December; N5.4bn extra, outside allocation, to ensure that since civil servants who are still active and those who have retired are paid their entitlements.

fitzmayowa: Aregbesola till 2022 2018...

LeOstrich: There you have it folks...

Things are so bad in Rauf's State of Osun that the O'Rice for Vote has been drastically reduced.

www.nairaland.com/attachments/1523952_aregbe_jpeg62c942e409d68ead222e2968f127182e
Given that Rice is a major factor in SW politics, I dare say Rauf will surely have a hard time telling the electorate that the state is not broke

VICTORCIZA: i thought berem said she be ibo?
why is she showing so much interest in osun state and their election.
until you come out clean and tell US which local government you came from osun (because its obvious you are yoruba and you are a native of osun state )i personally won't take you serious!!!

berem: Lord please make me a man when next I come to this world. Damn! Those asses..... (No homo intended.)

VICTORCIZA: i thought berem said she be ibo?
why is she showing so much interest in osun state and their election.
until you come out clean and tell US which local government you came from osun (because its obvious you are yoruba and you are a native of osun state )i personally won't take you serious!!!

VICTORCIZA: i thought berem said she be ibo?
why is she showing so much interest in osun state and their election.
until you come out clean and tell US which local government you came from osun (because its obvious you are yoruba and you are a native of osun state )i personally won't take you serious!!!

LeOstrich:

she is in the sexuality section w@nking on pictures of sexy ebony chics


https://www.nairaland.com/1800179/sexiest-black-women#24480453

OrlandoOwoh:
Victorciza, when has showing interest in a state become a determinant of where a person comes from? In your f00lish logic, is Ngozi is also from Osun State, because she is also interested?
I'm sure you don't know your claim of being an indigene of Benue State has been busted. I will always go to the thread on the new 18 states by Ayedun to laugh at your not being a good liar.