Connect with us

Politics

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

Published

on

...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.

Advertisement

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

Advertisement

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.

Advertisement

“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.”

Advertisement

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.

Advertisement

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.”

Advertisement

Politics

Rivers: 70 CSOs Ask NASS To Summon Ibas To Give Account

Published

on

A coalition of 70 Civil Society Organisations, CSOs, on Monday, urged the National Assembly to summon the Sole Administrator of Rivers State, Vice Admiral Ibok Ete Ibas (retd), to give an account of his stewardship in Rivers State for the past six months.

The groups, under the auspices of the Nigeria Civil Society Situation Room, said the call had become necessary, considering that the mandate handed to Ibas after the suspension of Governor Siminalayi Fubara by President Bola Tinubu would expire by Thursday.

Advertisement

“This is very important, especially when you consider the fact that funds belonging to Rivers State which were initially seized by the Federal Government, were released to the Sole Administrator after he was appointed. There is need for accountability,” the CSOs insisted.

More so, the Situation Room, in a statement it issued to commemorate the 2025 International Day of Democracy, said it was worried that the nation is still grappling with systemic corruption.

READ ALSO:Wike Gives Update On Rivers Emergency Rule Expires Date

Advertisement

Today is not just a day of reflection on the state of democracy in Nigeria but on the state of the nation and provides an opportunity to identify areas where improvements are needed.

“Nigeria is at a crucial juncture in its democratic journey, having marked 26 years of democratic rule this year, since the return to civil rule in 1999.

“In July 2025, the Situation Room released a report on the ‘Current State of Democracy in Nigeria’ where it noted that as at 2025, democracy in Nigeria still remains fragile, marked by institutional weaknesses, electoral distrust, and public disillusionment.

Advertisement

“Although some progress has been made, three fundamental principles that form the bedrock of democracy – cultural values, political leadership and the electoral process – are being confronted by systemic corruption, growing disillusionment and erosion of cultural values.

READ ALSO:Group Fumes As Rivers CJ Inaugurates LG Poll Tribunal

In addition, over the couple of months, we have seen systematic attempts to decimate political opposition and render our electoral process to be a choiceless ballot for the voters.

Advertisement

“These tactics include state-sponsored infiltration and destruction of other political parties, harassment of journalists and punitive targeting of civil society organisations to make it difficult for them to freely operate and determination to undermine the independence and autonomy of the election management body.

“The current State of the Economy presents some paradox – while the Government lauds itself for bold reforms including the removal of fuel subsidies, which freed up funds for State allocations, infrastructure development, and fiscal restructuring, challenges persist.

“The country continues to struggle with inflation, a weakened currency, rising debt, and widespread poverty, posing serious threats to economic stability.

Advertisement

READ ALSO:Police Recover Eight Explosives, 8000 Ammunition, Arrest 33 Suspects In Rivers

The failure of our democracy to deliver dividends to citizens, the failing public service delivery, lack of social amenities in standard healthcare and education, expanding impunity as well as indiscipline in public finance management and accountability emphasises the strong link between democracy and poverty.

“The 2023 general elections, despite technological upgrades like the BVAS, were marred by logistical failures, voter suppression, lack of transparency in the election results transmission and judicial controversies.

Advertisement

“Concerns over judicial independence, suppression of dissent, and weakened democratic institutions remain prevalent.

“Situation Room continues to condemn the breach of the 1999 Constitution and the events that led to the declaration of the State of the Emergency in Rivers State.

“This is not good for our democracy; it shows Executive overreach and a troubling erosion of democratic norms despite calls from well-meaning Nigerians to stop the State of Emergency, ” the statement, which was jointly signed by the Convener of the CSOs, Yunusa Z. Ya’u, and two Co-Conveners, Franklin Oloniju and Mimidoo Achakpa, further read.

Advertisement

Continue Reading

Politics

INEC Has Not Confirmed ADC State Leaders – Party

Published

on

The African Democratic Congress (ADC) has dismissed a report claiming that the Independent National Electoral Commission (INEC) confirmed a list of its state chairmen across Nigeria.

In a statement on Sunday, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, described the circulating report titled “Coalition Update: INEC Confirms ADC State Chairmen Nationwide” as “fake news” aimed at creating confusion within the party.

Advertisement

The Independent National Electoral Commission, to the best of our knowledge and verification, has issued no such confirmation, neither officially nor unofficially,” Abdullahi said.

READ ALSO:BREAKING: INEC Recognises David Mark-led ADC Leadership

He explained that choosing and approving state leaders is the party’s internal responsibility, not INEC’s.

Advertisement

The process of constituting and ratifying state leadership within any political party lies squarely within the party’s constitutional prerogative. INEC only recognizes what the party submits through the appropriate channels after due process,” he added.

Abdullahi urged ADC members and the public to ignore the fake list and wait for official communication.

READ ALSO:ADC Will Take Over Aso Rock, Lagos Govt House In 2027 — Aregbesola

Advertisement

We therefore urge our members and stakeholders to remain calm, vigilant, and guided by official communication from the national leadership of the ADC,” he said.

He reassured supporters that the ADC remains committed to discipline, structure, and internal democracy, adding that any genuine updates on party leadership will be shared through verified platforms.

Advertisement
Continue Reading

Politics

How Bello Deceitfully Assured Me Of Kogi Guber Ticket For 4 Years — Onoja

Published

on

Former deputy governor of Kogi State, Edward David Onoja, has revealed that his former principal, Yahaya Bello, assured him for four years that he would succeed him as governor, only to change his decision a day before the All Progressives Congress (APC) primary election.

Onoja made the disclosure during an interview on MIC ON Podcast published on Saturday night, where he recounted his political journey and his relationship with former Governor Bello.

Advertisement

LEADERSHIP recalls that Onoja had served as Chief of State for about four years before becoming deputy governor under Bello until their tenure elapsed.

READ ALSO:Kogi Govt Reacts To Natasha’s Allegations Against Akpabio, Yahaya Bello, Gov Ododo

“For four years before 2023, he (Yahaya Bello) was the one who called me and said, ‘You will succeed me, get prepared.’ And of course, I planned, I worked, and when it was time, he gave all of us the opportunity (to contest),” Onoja said.

Advertisement

According to him, about seven cabinet members at the time, including himself, picked up the All Progressives Congress (APC) nomination forms on Bello’s directive, but in the end, Bello’s support was with the current governor, Ahmed Usman Ododo.

At the end of the day, his heart and his choice was with the current governor, His Excellency, Alhaji Ahmed Usman Ododo,” he said.

READ ALSO:PHOTOS: Moment Supporters Throng Out To Welcome Natasha Akpoti-Uduaghan In Kogi

Advertisement

Onoja revealed that Bello broke the news to him just a day before the party primaries, a decision he respected despite his disappointment.

When he broke the news to me a day before the primaries, I told him, ‘You are the boss, you are over me, what you see is what I see, so let’s go get the job done, but I hope you are not making a mistake.’ There were no issues, and then we went to the field and did our best for our candidate,” he stated.

Onoja, who is now a board member of the South-East Development Commission (SEDC), emphasised that despite the turn of events, he remained committed to ensuring victory for the party’s eventual candidate and winner of the last Kogi State governorship election, Ododo, who went on to succeed Bello.

Advertisement

 

Advertisement
Continue Reading

Trending