Osun Govt. Debt Now N179B


The debt owed by Osun State government has been an issue for discuss for months now.  Several figures ranging from N600 to N500 and N400billion were bandied by members of the opposition.  A development cropped up last week and it was played up by the state government. The National Bureau of Statistics (NBS) put both the internal and the external loans, bonds and other credit lines obtained by the state government at N179 billion. ‘Even with the NBS’ 179 billion debt figure, the government wishes to note that the loan is still within its capacity to access and pay back in a normal economic situation and the government has indeed been servicing its debts without public knowledge before the Peoples Democratic Party induced economic recession. But for the sudden drop in the federal allocation which was as a result of the mismanagement of the country’s resources and the brazen corruption by the PDP led federal government, the state would have continued to run without any noise and financial stress as it had been doing. It will be recalled that the government has always maintained that no creditor will grant loan facility that cannot be redeemed by the borrower.  We state that the loans obtained by the Aregbesola’s administration have been prudently and judiciously used for the undisputable, glaring and transformative development that is evident in every part of the state. We are proud of Governor Rauf Aregbesola for his ingenuity, vision and ceaseless efforts in transforming the State of Osun to an Eldorado. With the loans, Osun has been able to surmount the challenges of poor roads and dilapidated school infrastructures.  We now have good roads and modern schools, our hospitals are now reliable healthcare centres and not death centres, the state capital is now having a befitting look unlike before. It is left for the mischief makers and the naysayers to appreciate the good work of Ogbeni Rauf Aregbesola; the right-thinking people (both elites and illiterates) of the state are already appreciating and commending Aregbesola for the development and transformation of the State of Osun through his hand’, the Commissioner for Information and Strategy, Hon. Adelani Baderinwa stated