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The governor said his administration inherited 8 outstanding loan facilities, repayable between the period of 16 months to 28 years, totalling N331.32 billion, while the administration also had N76 billion debt of arrears of salaries and pensions owed by the previous administration.


The Osun State Governor, Ademola Adeleke, has put the total debt portfolio of the state at N407.32 billion, The PUNCH reports.

Adeleke, who spoke at the monthly meeting of Osun State Traditional Rulers, held in Osogbo on Thursday, explained that the figure was arrived at, after various sums of money in the 8 credit facilities inherited were added to arrears of salaries and pension owed workers and retirees.

The governor said his administration inherited 8 outstanding loan facilities, repayable between the period of 16 months to 28 years, totalling N331.32 billion, while the administration also had N76 billion debt of arrears of salaries and pensions owed by the previous administration.

He further said, “The total loan stock as of today is N331.32 Billion. If the N76 billion debt on salaries and pensions are added, the state is indebted to the tune of N407.32 billion. The amount owed to contractors are yet to be determined. The only fund in government coffers, as at 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. 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 & pensions 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.”

In his remarks, Ooni of Ife, Oba Adeyeye Ogunwusi, who presided over the meeting, urged Adeleke to remain focused on his plan for the state and assured him that monarchs would continue to offer advice that would enhance development and ensure peace in Osun.
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Okay

You are free to probe but please don't be vindictive or witch-hunt anybody, remember what happened to the man with Green cap in Imo state.

This guy is certain of his failure

Moh247:
This guys is certain of his failure

Is that all you have to say after reading all

Mrkumareze:


Is that all you have to say after reading all

State Assembly, Federal Lawmakers all agreed to take a loan yet this buffoon is blaming Oyetola alone

And this same oyetola, in a copycat format, from Mr. Obi, said he didn't borrow one naira...
I guess, these are grants taken on behalf of the state.

Moh247:


State Assembly, Federal Lawmakers all agreed to take a loan yet this buffoon is blaming Oyetola alone

What was the loan used for Do we borrow to share among ourselves or to better our state?

Mrkumareze:


What was the loan used for Do we borrow to share among ourselves or to better our state?

Why not check the 2022 budget for details on the deficit

Moh247:
This guy is certain of his failure

By the time he leaves office, it will be 1 trillion Naira in debt, I see baba olowo’s brother moving to APC, after Tinubu retires Atiku next year from active politics.

anayonduba:
And this same oyetola, in a copycat format, from Mr. Obi, said he didn't borrow one naira...
I guess, these are grants taken on behalf of the state.

Only a foolish government doesn’t borrow money.

favor914:
Only a foolish government doesn’t borrow money.

And only foolish people support government that borrows money to line their pockets and that of their cronies.

Tinubus legacy..
Loan loan and more loan..
Borrow, tax and spend. That's all they know how to do.

favor914:
Only a foolish government doesn’t borrow money.

Only a foolish man will borrow with no sustainable means to payback...

Moh247:


State Assembly, Federal Lawmakers all agreed to take a loan yet this buffoon is blaming Oyetola alone

Look at how urchins reason?

Moh247:


Why not check the 2022 budget for details on the deficit

Why should you budget more than your pocket?

Ogbuefi2020:

Why should you budget more than your pocket?

Ibo and Obi supporters sef

How old are you? Let's see if you deserve an answer to such idiotic question

favor914:
Only a foolish government doesn’t borrow money.

Favor419 olobo general market

How ya kpomo na, hope it's being serviced on the regular