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JUST IN: Oyetola Took Loan In Billions After Losing Election – Adeleke

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The Osun State Governor, Ademola Adeleke, has disclosed that his predecessor, Gboyega Oyetola, took N18 billion loan after he lost the July 16th, 2022 Osun governorship election.

This is as he also revealed that the state is indebted to the tune of N407.32 billion as of November 30th, 2022.

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Adeleke disclosed this on Thursday during a meeting with Osun State Traditional Rulers at Osogbo, Osun State Capital.

READ ALSO: Adeleke, Oyetola In Verbal War Over Alleged Looting Of Governor’s Lodge

According to him, my administration inherited eight outstanding loan facilities, apart from salaries and pension debts, from Governor Oyetola’s administration.

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Adeleke explained that the repayment period for the loan facilities ranges from 16 months to about 28 years.

“My good people of Osun state, the total loan stock as of today is N331.32 Billion.

“If the N76 billion debt on salaries and pension are added, the state is indebted to the tune of N407.32 billion. The amount owed to contractors is yet to be determined.

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“The only fund in government coffers, as of Monday 29th November, was for November 2022 Salary. Otherwise, the state treasury was empty.

“As your governor, I will ask questions on your behalf. And will demand answers,” Adeleke told the traditional rulers.

He added, “Governor Oyetola must explain how the N331 Billion borrowed in the name of Osun State was expended, with no obvious infrastructural development to justify this huge debt.

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“Governor Oyetola must explain how the N18 Billion Bridge Loan taken after he lost the election on July 16, 2022, was expended.

“Governor Oyetola must also explain why Osun state is owing salaries and pension to the tune of N76 Billion after collecting a N50 Billion Salary Bail Out Loan from the Federal Government

“The creditors, especially the Commercial Banks must explain why various loans were given to an administration beyond its 4-year tenure. 28 years is equivalent to the tenure of at least four governors. A child that is born today would have earned a Ph.D. at 28 years of age. This is nothing but mortgaging the future of Osun State with nothing to show for it. This is definitely not acceptable.”

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READ ALSO: Why I Issued Executive Orders – Adeleke

See the breakdown of the debt by Adeleke below:

1. Budget Support Facility:
• Outstanding Balance: N51.8 Billion

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• Monthly repayment: N154.9m

• Repayable Period Outstanding:
335 months = 27 years 9 months

2. Salary Bail Out Loan:

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• Outstanding Balance: N38.8 Billion

• Monthly Repayment: N232.77m

• Repayable Period Outstanding:

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•167 Months = 13 years 9months

3. Restructured Commercial Bank Loans:

• Outstanding Balance: N158.77 Billion

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• Monthly Repayment: N1.14 Billion

• Repayable Period Outstanding:
139 Months = 11years 6 months.

4. Excess Crude Account (ECA) Loan:
• Outstanding Balance: N14.48 Billion

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• Monthly Repayment: N89.97m

• Repayable Period Outstanding:
161 Months = 13 years 4 months

5.CBN Infrastructure Loan:
• Outstanding Balance: N9.2 Billion

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• Monthly Repayment: N44.98m

• Repayable Period Outstanding:

205 months = 17 years 1 month

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6. FGN Intervention Loan:
• Outstanding Balance:
N1.7Billion

• Monthly Repayment:
N100m

• Repayable Period Outstanding:
17 months

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7. FGN Bridge Finance Facility: N18.04 Billion

A large portion of this particular loan was taken after July 16th, 2022 election which Governor Oyetola lost.

READ ALSO: Tribunal: Oyetola Closes Case, Panel Admits Adeleke’s Results

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No information on the Repayment terms.

Not one kobo of this loan was left in Government Coffers, when the Deputy Governor and I resumed work on Monday 29th November 2022. And no explanation on how the loan was expended.

8. Foreign loans: $86.2m
No information on the Repayment Terms.
PUNCH

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Politics

Crisis Rocks Sokoto APC As Defunct CPC Bloc Alleges Marginalisation

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A fresh crisis is rocking the Sokoto State chapter of the All Progressives Congress (APC) as members of the defunct Congress for Progressive Change (CPC) have accused the party of sidelining them in appointments and decision-making.

Speaking at a CPC reunion meeting held on Saturday at Sokoto Guest Inn, the group’s leader, Hon. Ibrahim Magaji Gusau, alleged that despite forming a large segment of APC members in the state, they have been systematically marginalised.

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Gusau recalled that after the 2025 general elections, former President Muhammadu Buhari promised CPC loyalists ministerial slots, federal board chairmanships, and special assistant positions—commitments that, according to him, were never fulfilled.

READ ALSO:Group Demands Edo APC Secretary Resignation Over Alleged Marginalision

We played a crucial role in the formation and success of APC, yet our contributions have been ignored. If these grievances are not addressed, we may be left with no choice but to seek alternative political platforms ahead of 2027,” Gusau declared.

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The development has heightened internal tensions in the Sokoto APC, raising fears of a possible implosion as the 2027 elections approach.

Analysts say the crisis mirrors similar complaints from CPC loyalists across northern states, who feel increasingly alienated under the dominance of the defunct Action Congress of Nigeria (ACN) bloc since President Bola Ahmed Tinubu’s emergence.

READ ALSO:EFCC Releases Former Sokoto Gov Tambuwal

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In Sokoto, the situation is further complicated by the ongoing supremacy battle between Senator Aliyu Magatakarda Wamakko and Senator Ibrahim Lamido, a rivalry that has split the party into two factions.

Political observers warn that if left unresolved, the crisis could cost the APC its stronghold in the North-West. Stakeholders are now urging the party’s national chairman, Dr. Nentawe Yildwata, to intervene and reconcile aggrieved members.

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US Desperate To Remove You, Cleric Warns Tinubu

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The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has warned President Bola Ahmed Tinubu again regarding the vice president, Kashim Shettima, and his 2027 second-term ambition, while also stating that America is “desperate to remove” the president.

Primate Ayodele, in a statement signed by his media aide, Osho Oluwatosin, warned Tinubu not to drop Shettima as his running mate, noting that even if the VP offends the president, he should settle it for his own good.

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He explained that an attempt to bring another person on board would be a “huge minus” and would “destroy his chances and bring unnecessary enemies to him.”

“Dropping Shettima will cause trouble for you; those who want him out are your enemies who don’t want you to succeed. Anything that Shettima might have done, forget it, and let’s move the country forward,” the cleric advised.

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He continued; “If you remove Shettima, it’s a minus for you; don’t remove him if you still want to maintain your chances. There are things you need to settle between yourself and Shettima, settle with him and let him remain; if not, it will be a serious minus to your government.”

The cleric stated that Shettima is harmless to Tinubu, but that the president will still face challenges in the north, predicting that “the Emirs will gang up against you.”

He urged the president to “do extra work” because the “election won’t come by easily.”

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Primate Ayodele further revealed that America won’t support President Tinubu’s second-term ambition and will “do everything to see him removed from power.”

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He urged the president to avoid “self-inflicted problems by solving the issues of hunger and security.”

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“Also, make sure you sort out the issue of international communities, like I said, America isn’t your friend. America is desperate to remove you; they will do everything to see you out of power.”

He stated that there are people who can defeat Tinubu, and although none have openly shown interest yet, with the current situation on the ground, they will defeat the president if they contest.

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I am not in support of anyone. If anyone comes out to contest and can defeat you, I will tell you, but I have not seen it yet. However, you need to work very hard because if the person comes out with the situation on the ground, you will have issues.”

He concluded by reiterating that the true problems are not personnel, but the nation’s challenges.

Shettima isn’t your problem, but hunger in the country and other factors. If you don’t fix them, removing anybody from your government or adding anyone will not do you any good. You should also work on security, you can win terrorists, they are within Nigeria.”

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

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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.

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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.

READ ALSO:Makinde, Wife Installed As Aare Omoluabi, Yeye Aare Omoluabi Of Akure Kingdom

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.”

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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.

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READ ALSO:2027: Makinde For President Posters Flood Kano

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.

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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.

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