Politics

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

Published

2 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

I’m Not Ready To Go Into The Gutters With Anyone – Makinde

Published

1 day ago

August 21, 2025

Editor

Oyo State Governor, Seyi Makinde, on Thursday, said he is not ready to “go low with anyone who decides to go into the gutters.”

He made this statement while addressing journalists shortly after the South-West zoning consultative summit of the Peoples Democratic Party, held in Lagos.

He said, “Personally, when people go low or go into the gutters, I don’t go with them. Some people are now going into the gutters. We will reach out to them. That is democracy.

“I can disagree with people, but there shouldn’t be anything personal here. It should be about what we are giving to Nigerians because they are watching.”

The governor added that despite challenges, recent elections had shown that the PDP remained a formidable force.

“In all our states, they showed last Saturday that PDP is not dead. In most other places of the 12 states, PDP came second. It is an indication to us that if we continue to work hard, we can reclaim the confidence of Nigerians,” he said.

When asked about discussions on zoning of the PDP presidential ticket to the South, Makinde said the party was not yet at that stage.

“We haven’t even gotten there. We need to have a party first before you start talking about presidential candidates. If we don’t have a party, anything you are trying to do will fall flat.

“Our efforts right now are directed towards having a vibrant and united PDP that Nigerians will be proud of and believe in again,” he said.

Dignitaries at the meeting include the Chairman of PDP Board of Trustees, Adolphus Wabara, Chairman of the party’s National Zoning Committee and Bayelsa state governor, Douye Diri; Governors Ademola Adeleke of Osun state, Peter Mba of Enugu State, represented by his deputy, Ifeanyi Ossai; former Osun Governor, Olagunsoye Oyinlola; Bode George; and Monsurat Sunmonu.

Others were 12 of the 17 PDP National Assembly members and key stakeholders of the party from across the southern states.

Politics

2027 Presidency: Idahosa Reiterates Okpebholo’s Promises Of Delivering Edo To Tinubu

Published

3 days ago

August 19, 2025

Editor

Edo State deputy governor, Hon. Dennis Idahosa on Tuesday reiterated the promise of Governor Monday Okpebholo of delivering the state to President Bola Tinubu and the All Progressives Congress (APC) in 2027.

The deputy said that the just concluded by-elections in the state was an affirmation of that promised made by his principal.

Idahosa stated this in a press statement sogned by his Chief Press Secretary, Mr Friday Aghedo, and made available to newsmen.

He said Okpebholo did not just make the promise of delivery the state to the APC, but that Edo will secure 2.5m votes for the President in 2027.

He commended the leadership of the party across Ovia federal constituency for their providing the leadership that made a APC victorious on Saturday.

He, however, noted that there was more room for improvement ahead of the 2027 general elections.

According to him, “after the victory, we called the leadership of the Ovia federal constituency to review and evaluate our performance at the poll, to observe areas where we need to work on next time.

“The bye-election was a litmus test for the 2027 presidential election. We are fully ready.”

Idahosa also used the opportunity to sensitize the people on the ongoing continuous voters registration and revalidation process by the Independent National Electoral Commission (INEC).

He also reeled out measures in place by the party to get new registered members for the exercise when commenced on Monday.

“We are going to constitute subcommittees to mobilize people who have not yet registered to enable us actualize on the promised votes to the president,” he said.

Meanwhile, the House of Representatives member elect, Omosede Igbinedion, promised to deliver on her campaign promises to the people.

“Ovia Federal Constituency should expect nothing but the best, in terms of representation and also in terms of developmental strides.

“We will come through, in anything we can do, from the federal level to complement the governor, Senator Monday Okpebholo, and the tremendous work he is doing at the state.

“Ovia is looking very bright. The deputy governor, Dennis Idahosa, has laid a good foundation we will build upon that foundation,” she said.

Politics

APC Disowns Members Calling For State Secretary’s Resignation

Published

3 days ago

August 19, 2025

Editor

The All Progressives Congress (APC) in Oredo Local Government Area of Edo State has urged members of the public to disregard those calling for the resignation of the state secretary, Engr. Lawrence Okah, saying they are not members of the party.

Recall that a group named Oredo Local Government All Progressives Congress Concerned Group had yesterday, Monday August 18, 2025, during a press conference, called for the resignation of the state secretary of the party over alleged marginalisation.

The group, led by its coordinator, Osamuyi Osadiaye had during the press conference alleged that Okah had arrogated all political positions allocated to Oredo LG to his Ward 7, thereby making the remaining 11 wards in the local government area irrelevant.

But in a swift reaction in a statement made available to INFO DAILY, Osamudiamen Osarenkhoe and Magdalene Isekhure, Oredo APC Chairman and Secretary respectively, alleged that the people behind the call were sponsored by the opposition, insisting that they are not known to the APC in the local government.

The duo, while calling on the general public to disregard the call for the secretary’s resignation, noted that Okah is a “reputable party man who has put everything humanly and constitutionally possible to ensure that APC remains the party to beat in Edo state and Nigeria as a whole.”

The statement partly reads: “The leadership of APC in Oredo Local Government area views the activities of those involved in the illicit campaign as one that is sponsored by opposition political parties.

“Firstly, the group members connected to the media statement coordinated by one Osamuyi Osadiaye are not known members of the APC in Oredo Local Government Area.

“They are impostors and interlopers trying to create trouble in the local government chapter of the APC.

“Members of the public are hereby called upon to disregard the Press statement in its entirety as everything said by the fake APC members are all lies from the pit of hell.”