The governor of Osun State, Mr. Ademola Adeleke, has alleged that his predecessor, Mr. Gboyega Oyetola, took a loan of N18 billion after losing the July 16 governorship poll.
Adeleke disclosed this yesterday at the monthly meeting of Osun State Traditional Rulers held in Osogbo and presided over by the Ooni of Ife, Oba Adeyeye Ogunwusi
He also said he inherited a total debt portfolio 407.32 billion.
He said the amount was arrived at after various sums of money in the eight credit facilities inherited were added to arrears of salaries and pension owed workers and retirees.
The governor said his administration inherited eight outstanding loan facilities repayable between the period of 16 months and 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 said commercial banks will also be required to explain why a loan repayment term was beyond the four-year tenure of a governor.
“The total loan stock as at today is N331.32 billion. If the N76 billion debt on salaries and pension are added, the state is indebted to the tune of N407.32 billion. The amount owed to contractors is 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 for 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 and pension to the tune of N76 Billion after collecting a N50 billion salary bailout 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. 28 years is equivalent to the tenure of at least four Governors.
“A child that is born today would have earned a PhD at 28 years of age. This is nothing but mortgaging the future of Osun state with nothing to show for it. This is definitely not acceptable,” he said.
Reacting to the allegations, Mr. Ismail Omipidan, spokesman for Oyetola denied that his boss took any loan during the four years he was governor.
He said the incumbent governor has further exposed his lack of understanding of governance.
“I insist for the umpteenth time that my principal never took any loan facility for the four years he used in office. The claim by the new governor shows clearly that he lacks understanding of how government is run.
“If you go to my principal’s farewell address, he stated it clearly that like every other state, we benefitted N3 billion on monthly basis for six months from the Federal Government as budget support. This money was given to all 36 states of the country without request.
“You cannot categorise that as a loan. So, the new governor does not understand the working of government and he should have allowed those that understand the rudiment to explain it to him so that he won’t be coming to the public to embarrass himself the way he did. “We also left N14 billion behind. They should tell the people how much they met in the state coffers,” he said.
