Uyai-Abasi Etido

The governor of Osun State, Ademola Adeleke, has revealed that his predecessor, Gboyega Oyetola, took an N18 billion loan after the July governorship election in the state.

He said this on Thursday, December 15 while speaking with traditional rulers in Osogbo. Noting that the state is indebted to the tune of N407.32 billion.

Adeleke said his administration inherited eight loan facilities alongside pension and debts, adding that the repayment period of the loans ranges from 16 months to 28 years.

In his words: “My good people of Osun state, 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 of 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.” He said.