Osun Deputy Governor, PDP Disagree On Debt Portfolio

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 Osun  State Deputy Governor,  Mrs Titi Laoye Tomori  stirred the hornet’s nest  when at a recent political gathering in Osogbo, she accused the opposition of exaggerating the true state of indebtedness of the state and asserted  that  the debts were actually not as worrisome as it had been portrayed. The state Chapter of the Peoples Democratic Party in a swift  reaction described   the submission made by Mrs Titi Laoye Tomori  as deceptive and misleading. The state PDP Chairman, Hon. Soji Adagunodo accused the Deputy Governor of playing the ostrich  by pretending not to know that the humongous debt incurred by the Agrebesola’s administration in the last seven years is not only unsustainable but was also sadly expended on phantom projects that merely served as conduit pipe and avenues to loot the state treasury. ‘What  has happened to the monies borrowed for the Osogbo-Ikirun-Ila Odo road; the Gbongan to Akoda road; the Airport in Iddo Osun; the Water projects in Ede and Ilesa and the other projects? The party queried.  While making reference to the recent report by the  Budget Transparency and Accountability Organization (BUDGIT), the  Osun State economy can  according to the PDP  hardly sustain the N400billion debt allegedly incurred by  the Aregbesola’s administration  through what the party referred to as the governor’s  recklessness, cluelessness and utter disregard for due process. ‘For the avoidance of doubt,  BUDGIT  in its October 2017 report declared Osun as being insolvent.  ‘Many economists and analysts report that Osun State planning model was defective, due to the wide variance between its Revenue and  its Expenditure projections. The budget plan indicated intention to spend N88.14bn in 2011, in spite of the fact that the estimated Revenue for the fiscal year stood at N54.8bn. The state followed the same trajectory in 2012, 2013 and 2014, with estimated expenditures projected at N150.13billion, N234billion and N216billion, as against estimated revenues of N55.97 billion, N61.89bn and N57.16billion respectively. Such wide targets between annual budgets and actual spending are the first signals of a financial disaster certain to happen’ BUDGIT had stated. ‘It is important to ask if  that was  also an opinion of the opposition in the reckoning of the  deputy governor or was she just being hypocritical about the true financial status of the state? Adagunodo asked. The party  not only advised the Deputy Governor to refrain from what it described as acts of deceit and distortion of facts but also to own up to the failure of the government where she is a principal member. ‘The PDP as a political party and indeed every well-meaning citizen of Osun is concerned about the increasing inability of the state government to meet its financial obligations to the workers and pensioners who are being owed arrears of their entitlements for a period ranging from 6 to 25 months as well as many contractors who have since abandoned construction sites’ he stated.