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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.

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

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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.

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.

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“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.

“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.”

READ ALSO: Why I Issued Executive Orders – Adeleke

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See the breakdown of the debt by Adeleke below:

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

• Monthly repayment: N154.9m

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

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2. Salary Bail Out Loan:

• 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

• Monthly Repayment: N1.14 Billion

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

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

• Monthly Repayment: N89.97m

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

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

• 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

7. FGN Bridge Finance Facility: N18.04 Billion

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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

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.

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

Atiku Hints On Supporting Obi For 2027 Presidential Race

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The 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said that if in 2027, the party decides that it is the South-East’s turn and selects Peter Obi as its candidate, he will readily offer his support.

“I have said repeatedly and I even said it before the 2023 general elections that if the PDP decides to zone the presidential ticket to the South or South-East specifically, I won’t contest it. As long as it’s the decision of the party, I will abide by it. But I contested the 2023 presidential ticket because it was thrown open to all members of the party.

“If the party decides that it’s the turn of the South-East and Peter Obi is chosen, I won’t hesitate to support him,” Atiku declared in a recent interview with BBC Hausa Service.

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He added that a merger between the PDP and Labour Party is possible.

Atiku added that members of the party would decide his fate in the 2027 general elections.

The former Vice President mentioned that his recent meeting with Obi might indicate a possible alliance leading up to the 2027 general elections.

READ ALSO: Paul Kagame, Chimamanda Adichie, Aig-Imoukhuede, Other Africans Make Top 100 Influential Global

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Responding to questions about the meeting with Obi, Atiku said, “It’s just a normal friendly meeting that we often have, particularly among us in the opposition parties. Such meetings are healthy for Nigeria’s democracy and in the country’s interest.”

On whether this will bring about a merger, he said, “Yes, it’s very much possible. We can merge to achieve a common goal. So, it’s possible, and nothing can stop it if we wish to achieve that.”

The former Vice President, who denied that the choice of presidential candidate might frustrate the merger discussion, said, “That’s not true. That challenge will not arise. I can tell you that the choice of who will fly the flag of the party won’t be an issue.”

On why he’s still in active politics, Atiku said, “Yes, we can’t keep quiet and watch things go wrong. People are suffering and we are committed to making Nigeria a better place.

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“It means you are not tired of politics of Nigeria? Not at all. I am still in active politics in Nigeria, at least, as long as God permits.

“My age doesn’t stop the young ones from testing their fate. Everybody, irrespective of age, is allowed to aspire to be anybody in the society, politically or otherwise.”

READ ALSO: Disregard Claim Of Me Bringing Investors To Nigeria – Ngozi Okonjo-Iweala

Regarding his 2027 Presidential ambition, the former Vice President said “That would depend on the decision of my party. I can’t make any categorical statement on that. It’s the duty of the party to decide on the way to go in the next election.

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“Until that time comes. Let’s just wait and see how it will turn out.

“It must not be interpreted like that. I must not be eyeing elections to have meetings with political friends and associates. Currently, we are practising democracy in this country which we fought for with our blood.”

Last week, Obi held a private meeting with Atiku and some other PDP leaders in Abuja.

Obi also met separately with former Jigawa State Governor Sule Lamido and former Senate President Bukola Saraki, sparking speculation about a possible coalition for the 2027 general elections.

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Obi was a PDP member until 2022, when he left to pursue his presidential ambitions with the Labour Party.

READ ALSO: NJC Issues Three Judges Warning Letters, Halts Two Others’ Promotion

He finished third behind Atiku in the February 23 presidential election, which was won by Bola Tinubu of the All Progressives Congress.

Atiku blamed Obi’s departure from the PDP for his loss to Tinubu.

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Analysts argued that Atiku’s 6,984,520 votes combined with Obi’s 6,101,533 votes could have secured a win against Tinubu, who received 8,794,726 votes.

Monday’s meeting marked the first public interaction between Obi and Atiku since the election.

Social media and online platforms were flooded with viral photos of Obi’s meetings with the three PDP figures on Monday.

In 2019, Atiku and Obi ran together on the PDP ticket but were defeated by former President Muhammadu Buhari of the APC.

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However, due to internal conflicts, Obi, who was Atiku’s running mate in 2019, left the PDP and ran as the Labour Party’s candidate in the 2023 presidential election.

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JUST IN: Ex-PDP Deputy National Chair, Oyedokun Defects To APC

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A former Deputy National Chairman of the Peoples Democratic Party, Alhaji Shuaib Oyedokun, has resigned his membership of the party and announced defection to the All Progressives Congress.

Oyedokun, a notable personality within the political circle in Osun State and beyond, said he decided to dump the PDP after consultation with his loyalists.

He said he would be joining APC, where his experience, efforts, and leadership roles would be valued and appreciated.

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READ ALSO: Edo Poll: LP Group Urges INEC, Judiciary to Adhere To Rule Of Law, Electoral Act

His resignation letter addressed to the National Chairman of the PDP through the ward, local government and state chairmen of the party obtained late Thursday further read, “As a functional member and leader of PDP (Ward 13, Jagun/ Osi-Bale Ode, Odo-Otin South Local Government, Osun State,) whose high electoral productivity and value have been credibly and positively acknowledged in my ward, across the local council, state and country-wide for the enhancement of the fortune of the PDP, I have the honour (though with pain) in announcing the renunciation of my membership of the party on principle, having observed that the ideals of we, founding members, had been sorely contaminated.

“In taking this step which is not even without due consultation with my teaming loyalists in the PDP, I have consequently decided to shift my allegiance to the All Progressives Congress (APC) where I believe my experience, efforts and leadership roles would be valued and appreciated.”

READ ALSO: Step-by-step Guide To Accessing FG Consumer Credit Scheme

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Oyedokun’s defection to the APC is coming at the time the aspirant he supported during the 2022 Osun governorship primary of PDP, Mr Dotun Babayemi is also moving to the national ruling party.

Osun APC said on Wednesday that Babayemi and his supporters would be dumping PDP and joining the party at a rally scheduled to be held in Osogbo on Friday.
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Poll: APC Has No Sellable Candidate, Nothing To Campaign On – Edo Govt

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The Edo State Government claimed on Monday that the All Progressives Congress, APC, has no credible candidate for the September 21 governorship election.

This was an assertion made by the Edo State Commissioner for Communication and Orientation, Chris Nehikhare, at a press conference in Benin City.

Nehikhare also alleged that the party is using lies and propaganda as its campaign strategy.

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READ ALSO: Edo Poll: Reason Ex-Speaker Resigns From PDP Revealed

According to him: “The only APC strategy for the governorship election is to resort to lies and propaganda. When a party takes lies and propaganda as an election strategy, it means it has nothing to offer the people. The party lacks people with character, capacity, and intellect.”

The commissioner who took journalists through a screened shot WhatsApp chat said: “What we have here is the official APC WhatsApp platform, their own people screenshot their discussion. One of them who has a conscience asks, is this the only thing we have?”

Nehikhare, who said APC is ashamed to campaign for its candidate, noted that, as of today, nobody had heard of what the party has for the state.

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READ ALSO: Edo: Man Arrested For Posting Obscene Photos Of 4-year-old Daughter Online

All we heard is how they are going to help their paymaster, lies and propaganda that will not help the state,” he added.

He opined that lies and propaganda are not strategies the opposition party, like APC, can use to win the September 21 governorship election.

The commissioner, who warned against misinformation and fake news ahead of the governorship election, urged media practitioners to be neutral in matters concerning lies and propaganda.

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He, however, noted that Governor Godwin Obaseki’s administration has a lot of achievements to market and sell its candidate for the election.

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