Governance

Delta Govt Settles Two Hundred Billion Naira Debt

By Web News 440

By Oghenero Eghweree

The Delta State Government says it has settled over two hundred billion naira debt owed by previous administrations since the inception of the current dispensation in May 2023.

The State Commissioner for Works, Rural Roads and Public Information Mr. Charlse Aniagwu, stated this in Asaba, at a press briefing on the State of Affairs in the Delta State in the New Year.

Mr. Charles Aniagwu who did not give the figure of the total debt profile of the state, noted that the government has not borrowed since May 2023, despite ongoing projects across the state.

In efforts to reduce the housing deficit in the state, the Commissioner said the government had embarked on the construction of one hundred and fifty housing units located in Isoko North, Ndokwa West, and Ika North East local government areas in the state.

Mr. Charles Aniagwu also disclosed that the government will embark on a tour of the twenty-five local government areas of the state in January, to ascertain the state of ongoing projects and to make inquiries on need to establish new initiatives.

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Economy

Osun Owes N407.32 Billion Debt – State Government

By Web News 546

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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