Politics
Edo PDP Expresses Concern Over Okpebholo’s ₦100bn Loan, Says ‘It’s Another Conduit Pipe’

...If accessed, Okpebholo would have doubled state’s domestic debt profile in less than eight months – PDP
Edo State chapter of the Peoples Democratic Party (PDP) has expressed “grave concern” over the recent approval of ₦100bn loan to the state governor, Monday Okpebholo, by the state House of Assembly.
The Edo State House of Assembly had on Tuesday approved a ₦100 billion loan facility from First Bank of Nigeria PLC to support Governor Monday Okpebholo’s administration in delivering key infrastructural projects across the state.
Reacting to this development in a statement, Dr Tony Aziegbemi, Chairman, Edo PDP Caretaker Committee, said “If this new loan is accessed, Sen. Okpebholo would have effectively doubled the state’s domestic debt profile in less than Eight months.”
The opposition party, while quoting the Debt Management Office (DMO), noted that “Edo State’s total domestic debt since creation on 27 August, 1991 as at December 31 2024 stood at One Hundred and Twelve Billion Naira (N112,000,000.00).”
READ ALSO: Okpebholo’s ₦100b Loan Generates Reactions, Controversy
The PDP added: “It took 34 years by all governors of Edo State to incur 112 Billion Debt, it is taking Sen. Monday Okpebholo Eight months to double it. This is an alarming development that raises serious questions about the long-term fiscal sustainability of the state; and indeed, about the financial competence of this APC led Administration.”
The opposition lamented that “what is particularly disturbing is the complete absence of transparency surrounding this loan,” stressed that “the people of Edo deserve to know what commitments are being made on their behalf and at what cost.”
The PDP contained: “No information has been provided regarding the identity of nominated contractors, the interest rate, repayment terms, or timeline for execution.
“It is unacceptable that such a significant financial obligation is being incurred without public scrutiny or clear justification.”
READ ALSO: Okpebholo Inaugurates Boundary Dispute Committee In Edo
Aziegbemi, who expressed worry that “the once vibrant State Assembly has abandoned its constitutional duty to rein in the excesses of the Executive Branch of Government,” reminded the lawmakers that “infrastructure loans of this magnitude are ordinarily sourced from development finance institutions on low interest rate/concessional terms.”
He added: “Securing such a facility from a commercial bank with high interest rates is both fiscally irresponsible and economically short sighted. At the prevailing interest rate of 30% and add Ons, Edo State will be paying 35 billion Naira annually just as interest. This is alarming and acutely not sustainable.”
Aziegbemi continued: “When we raised alarm about the fall in the IGR from about N8bn monthly during the immediate past government to about N2bn monthly, Okpebholo and his hirelings in their jaundiced response lied to Edo people that the State was generating N10bn monthly.
“We are also aware that the Okpebholo government inherited over ₦50 billion in the state treasury from the Godwin Obaseki-led administration less than eight months ago.
READ ALSO: Children’s Day: Dissuade Your Wards From Joining Cultism, Okpebholo Urges Parents, Guardians
“So, how do we justify that a government that inherited such an amount and who claims to be generating over N10bn monthly in IGR is now running to First Bank Nigeria Plc to borrow ₦100 billion. It only but exposes the fiscal irresponsibility of the Okpebholo government and affirms the drastic fall in the IGR, thereby forcing them to resort to reckless borrowing to cover up the shortfall.”
Aziegbemi, who argued that the loan “appears to be nothing but another conduit pipe to slush funds, which Okpebholo plans to service his endless list of godfathers and political thugs who helped him steal the people’s mandate during the last governorship election,” demanded a “full list of the infrastructure projects to be financed; names and profiles of the nominated contractors; the full loan agreement including interest rate, tenure, repayment terms and disbursement schedule, and “all records of proceedings and resolutions related to the loan by the State Executive Council and House of Assembly.”
Politics
Peter Obi Meets US Consul General, Hopes For Credible Polls In 2027
Chieftain of the Nigerian Democratic Congress, NDC, Peter Obi on Tuesday held a meeting with United States Consul General, Mr Rick Swart.
Obi made this known via his X handle.
READ ALSO:NDC Speaks On Peter Obi, Kwankwaso Joining Party
He said “This morning, in Lagos, I met with the U.S. Consul General, Mr Rick Swart, where we discussed strengthening the bilateral relationship. We focused on promoting credible elections in Nigeria, ensuring they are free from interference, and fostering a space where all political parties, especially opposition parties can thrive, and contribute.
“We also discussed trade and business opportunities between our countries. Accompanying me to the meeting was Dr Adefolaseye Adebomi Adebayo.
“The discussion was very productive, and we are hopeful that, moving forward, Nigeria’s elections will be even more credible and transparent.”
Politics
BREAKING: 17 ADC Reps Follow Join NDC
About 17 African Democratic Congress, ADC, lawmakers in the House of Representatives have defected to the Nigerian Democratic Congress, NDC.
This was disclosed by Speaker Abass Tajudeen on the floor of the House on Tuesday.
Tajudeen also announced the defection of Leke Abejide from the ADC to the All Progressives Congress, APC.
READ ALSO:JUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up
Lawmakers who defected to the NDC include Yusuf Datti, Uchenna Okonkwo, Adamu Wakili, Thaddeus Attah, George Ozodinobi, Lilian Orogbu, Oluwaseyi Sowunmi, Peter Aniekwe, Mukhtar Zakari, George Oluwande and Munachim Umezuruike.
Others are Emeka Idu, Jesse Onuakalusi, Ifeanyi Uzokwe, Afam Ogene and Abdulhakeem Ado.
This comes barely a day after former presidential candidates Peter Obi and Rabiu Kwankwaso defected from the ADC to the NDC.
Obi and Kwankwaso have pledged to continue their pursuit for a better Nigeria in the NDC.
Politics
JUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up
A former presidential candidate, Peter Obi, has given reasons why he resigned from the African Democratic Congress, ADC, to join the Nigerian Democratic Congress, NDC, alongside a former governor of Kano State, Rabiu Kwankwaso.
In a long post on X on Monday, Obi insisted it was not out of anger or ambition.
Rather, he said the move is a continuation of the quest to build a new Nigeria.
Obi wrote: “Yesterday, I formally joined the Nigerian Democratic Congress (NDC), alongside my dear brother, Engr. Dr Rabiu Musa Kwankwaso, with one clear purpose: to continue the struggle for a new Nigeria built on justice, competence, accountability, and compassion for the ordinary Nigerian.
READ ALSO:Peter Obi, Kwankwaso Formally Join NDC, Warn Members Against Litigation
“As I stated yesterday, this decision was not made out of anger, personal ambition, or convenience. It came after deep reflection on the present condition of our nation and the urgent need to rescue Nigeria from the dangerous path it is currently heading.
“Over the years, I have remained steadfast in my conviction that politics should never be about individuals, positions, or personal gain. It must be about the people, especially the millions of Nigerians who today can no longer afford necessities, whose businesses are collapsing, whose children are losing hope, and whose future is becoming increasingly uncertain.
“I left the ADC for the same reason I left the Labour Party: the severe, orchestrated litigation and internal crises deliberately designed to ensure that I, alongside many other notable individuals, do not effectively participate in the electoral process. I sincerely appreciate and remain deeply grateful to the Leadership of ADC for the opportunity to work together in pursuit of a better Nigeria. I am particularly grateful to ADC Chairman Senator David Mark for his exceptional Leadership. I also deeply appreciate my Leader and elder brother YE, Atiku Abubakar, as well as other respected leaders within the party.
“As we join the NDC, I sincerely appeal to the Nigerian Government against the encouragement of unresolved litigations and the infusion of crises within political parties. Democracy must never become a weapon against the people. A healthy democracy thrives on strong institutions, credible alternatives, and the freedom of citizens to make choices without intimidation, manipulation, or fear. Opposition parties must not be weakened or destroyed, because when democracy loses balance, the people ultimately suffer.
“Nigeria today is passing through one of the most difficult periods in its history. Poverty is rising. Hunger is widespread. Insecurity continues to threaten lives and livelihoods. Businesses are shutting down daily. Our young people are becoming discouraged, and many citizens have lost faith in the system. At a time like this, leadership must be driven not by propaganda or division, but by competence, capacity, character, and compassion.
READ ALSO:ADC Hails S’Court Verdict On Leadership, Demands INEC Chairman’s Resignation
“Our decision to join the NDC is therefore not an abandonment of values, but a continuation of the same mission we have always stood for: building a Nigeria where leadership is about service, where public resources are managed responsibly, where institutions function independently, and where every Nigerian, regardless of tribe, religion, region, or social status, can live with dignity, security, and hope.
“I remain committed to working with all Nigerians of goodwill across political, ethnic, and religious lines. The task before us is bigger than any individual or political party. It is about the future of our children and the survival of our dear nation.
“I thank Nigerians, especially our youths and women, for remaining peaceful, resilient, and hopeful despite the enormous challenges confronting the country. I urge you not to lose faith in Nigeria. Nations do not change because people surrender to hopelessness; they change because people continue to believe, continue to sacrifice, and continue to stand for what is right.”
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