Osun state government says the state is indebted to the tune of #407.32 billion.
The state governor Ademola Adeleke gave this revelation in Abere during a meeting with royal fathers in the state.
Of the said amount, the total loan stock is #331.32 billion naira and salaries and pensions debt is #76 billion.
Governor Adeleke said, as of Monday, November 29, the only fund in the state’s coffers was for November 2022 salary.
He pointed out the need for his immediate predecessor, Gboyega Oyetola to explain how #331 billion was expended with no commensurate infrastructural development to justify the huge debt.
The state’s helmsman also said Mr Oyetola must explain how the 18 billion naira bridge loan he allegedly took after he lost the 2022 governorship election was expended.
Governor Adeleke also called for an explanation of reasons the state owes #76 billion in salaries and pensions debt after collecting a #50 billion salary bailout loan from the federal government.
Osun governor said he would also ask questions on why commercial banks gave out various loans to an administration beyond its 4-year tenure just as he noted such practice had mortgaged the future of the state.
In their reactions, the Chairman, of Osun state Council of Obas, the Ooni of Ife, Oba Adeyeye Ogunwusi, the orangun of oke Ila, Oba Adedokun Abolarin, the Oluwo of Iwo Oba Abdul-Rasheed Akanbi among others, advised the governor to handle the debt issue wisely so as not to impede him from fulfilling his electioneering promises.
The royal fathers assured the governor of their support and advice.
Abiodun Adeoye
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