Politics

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

Published

4 hours 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

Damagum Is PDP’s Problem – Ex-Benue Gov Suswam

Published

38 minutes ago

June 25, 2025

Editor

Former governor of Benue State, Gabriel Suswam, on Wednesday declared that the acting National Chairman of the Peoples Democratic Party, PDP, Umar Damagum, is the problem of the party.

Suswam, who insisted that Damagum is not a leader, said the party has been drifting downwards since he assumed the role of acting National Chairman.

Featuring on Channels Television’s Politics Today, the former governor said, “There is no integrity in the leadership of PDP, I’m happy that Wike said it.

Politics

Confusion In PDP As NWC Counters Damagum, Rejects Anyanwu’s Reinstatement

Published

2 hours ago

June 25, 2025

Editor

The National Working Committee, NWC, of the Peoples Democratic Party, PDP, has dismissed claims that the party’s 100th National Executive Committee (NEC) meeting scheduled for Monday, June 30, 2025, has been postponed.

A statement signed by key members of the NWC on Wednesday also denied reports that Samuel Anyanwu has been reinstated as the party’s National Secretary.

The NWC said the statement comes in response to a press briefing earlier in the day by the Acting National Chairman, Ambassador Umar Damagum.

DAILY POST reports that Damagum had announced the postponement of the NEC meeting and said Anyanwu is to resume as National Secretary.

Rejecting Damagum’s declarations, the NWC said his pronouncements were contrary to the resolution of the 99th NEC meeting, which scheduled the next NEC session for June 30 and referred all matters concerning the National Secretary’s office to that meeting.

“The pronouncements by the Acting National Chairman have no foundation as no organ of the Party (including the NWC), individual or group has the power to cancel, overrule, veto or vary the resolution of the National Executive Committee (NEC),” the statement read.

Citing Section 31 (3) of the PDP Constitution (as amended in 2017), the NWC emphasized that NEC is the highest decision-making organ of the party after the National Convention and that its resolutions are binding on all members and organs of the party.

The NWC described the announcement regarding Anyanwu’s resumption as “misleading” and reaffirmed that the matter remains under the jurisdiction of the forthcoming NEC meeting.

The statement was jointly signed by Deputy National Chairman (South), Ambassador Taofeek Arapaja, Acting National Secretary, Setonji Koshoedo, National Treasurer, Ahmed Yayari Mohammed, National Auditor, Okechukwu Obiechina Daniel, and National Publicity Secretary, Debo Ologunagba, among others.

Politics

FCT Polls: APC Releases Names Of Primary Election Committee Members

Published

3 hours ago

June 25, 2025

Editor

The ruling All Progressives Congress, APC, has unveiled names of members of its primary election committees for the 2026 Federal Capital Territory, FCT, chairmanship polls.

This was contained in a statement on its official X handle on Wednesday.

The committees, appointed for the six area councils, are made up of chairmen, secretaries and members.

The statement said that an inauguration ceremony for the appointed chairmen and secretaries took place on June 25 at the APC national secretariat in Wuse 2, Abuja.

“For Gwagwalada area council, the committee will be chaired by Hon Shafi’u Duwan, with Hon Yahaya Shehu Maradun as secretary,” the statement read.

According to the statement, in Abuja Municipal Area Council, AMAC, Habibu Ibrahim will spearhead the committee, while Margaret Duru will serve as secretary.

It added that Austin Agada will chair the Bwari area council committee, with Sanusi Sa’idu Kiru as secretary.

In addition, the statement revealed that in Abaji, Hon Afolarin Mayowa Samuel would oversee the committee, while Hon Abdullahi Maharazu will act as secretary.

For Kwali, the statement named Akombo Benedict Imoter, as the committee chairman, and would be assisted by Hon Gambo Rimi as secretary.

Barr Yakubu Bello chairs the committee for Kuje area council, while Engr Umar Shehu will serve as secretary.

It will be recalled that the Independent National Electoral Commission, INEC, On January 22, said it had fixed February 21, 2026, for the conduct of the FCT area council elections.

According to the INEC chairman, Mahmood Yakubu, the last area council election in the FCT was held on February 12, 2022, adding that the tenure of the current chairmen and councillors will end next year.

He further stated said the final list of candidates will be published on September 22, 2025, adding that campaigns will commence on September 24 and end at midnight of February 19, 2026.