Politics

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

Published

7 months ago

June 25, 2025

...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).”

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.”

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.

“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

Obasanjo, Atiku, Obi Meet In Abuja

Published

1 day ago

January 10, 2026

Editor

Former President Olusegun Obasanjo, former Vice President Atiku Abubakar and former Anambra State Governor Peter Obi met in Abuja on Saturday.

The trio were among prominent political figures who attended the Tambuwal Colloquium, titled “Leadership, Service and Statesmanship at 60,” held at the New Event Hall of the Transcorp Hilton Hotel, Abuja, in honour of the 60th birthday of former Sokoto State Governor and Senator, Aminu Waziri Tambuwal.

Atiku confirmed his presence at the event in a post on his X handle, stating that he had arrived at the venue for the colloquium organised to mark Tambuwal’s milestone birthday.

The former vice president also shared images of himself, Obasanjo and Obi at the event.

The event attracted political leaders, statesmen and stakeholders from across the country.

Politics

PANDEF Wades Into Rivers Crisis, Sets Up Seven-member Mediation Team

Published

1 day ago

January 10, 2026

Editor

The Pan Niger Delta Forum (PANDEF) has intervened in the political crisis in Rivers State, calling on all actors to sheathe their swords and embrace peace in the interest of the development of the state and the region in general.

Expressing concern that the political disagreement involving the Federal Capital Territory (FCT) Minister, Mr Nyesom Wike, Governor Siminalayi Fubara and the State House of Assembly might degenerate to total lawlessness, the Board and National Executive Committee of PANDEF set up a seven-member reconciliation team to resolve the issues.

The team, which is headed by a former Attorney-General of the Federation, Chief Kanu Agabi, has six other members.

They are Senator Obende Domingo (Vice Chairman); Chief Essien Nduese; Dr Timiebi Koripamo-Agari; Chief Mike Ejiofor; Mrs Nella Rabana-Andem, SAN; and Prince Godwin Okotie, the Deputy National Secretary of PANDEF, who will serve as the secretary of the team.

Politics

Wike: Why Removing Fubara Will Be Difficult – Ex-Commissioner

Published

2 days ago

January 9, 2026

Editor

A former Rivers State Commissioner for Information and Communication, Austin Tam-George, has said that attempts to impeach Governor Siminalayi Fubara would be difficult to sustain, citing what he described as the governor’s performance record and the lack of concrete allegations against him.

Tam-George made the remarks on Thursday while speaking on Prime Time on Arise Television, arguing that the impeachment process being initiated against Fubara was to scuttle his chance for a second term.

According to him, Governor Fubara has continued to place the needs of the people at the centre of his administration, with visible interventions in rural development, housing, education and healthcare.

He said this, in his view, has made it difficult for opponents to justify moves to remove the governor from office.

Tam-George also called on the All Progressives Congress, APC, to intervene, arguing that the party should not allow what he described as the humiliation of a sitting governor.

He said: “Well, all I think he needs to do is to do exactly what he’s been doing from the beginning, which is to place the people at the center of gravity of his administration, prioritize the needs of the people, so that the people can see the direct impact of government action in their lives.

“And that’s exactly what he’s doing in terms of rural development, in terms of housing sector transformation, which I mentioned that he is doing the same in education sector and in health.

“So if he continues, if he persists in placing the people’s need at the center of focus of his administration, there is no way they are going to be able to justify this kind of shenanigans.

“Because, if you look very carefully at the so called articles of impeachment, you will see that there is no specificity in terms of any infraction by the governor or his deputy.

“What they are trying to do is to make sure they scuttle the administration so that the governor doesn’t then get to the point where he will be seeking a second term.

“Let me be clear, just two days ago, Nyesom Wike was at one of the local governments, and he made it clear in a moment of epiphany, he made it clear that, look, if Governor Fubara were to get a second term in office, it will amount to his own political burial.

“So all of these things that we are seeing the so called impeachment proceedings they’ve initiated, it’s actually an effort to try to scuttle the prospects of the governor coming for a second term, and I don’t see how they will succeed.

“If you look at the so called articles of impeachment, as I said, they lack specificity in terms of the kind of infraction that they allege that the governor has committed. He has done nothing wrong, and they will see how the process will play out.

“My sense, and in fact, if I were to advise the governor, my sense is that he should just maintain the people, retain the people at the center of gravity of his administration, meet their needs, run a transparent administration as he always done, and then the truth will come out, and he will be able to defend the administration.

“I think the the governing APC should also step in because they can’t possibly allow the governor of the office with probably one of the best performance records in the country to be humiliated by some of these members of the assembly.”