Amosun left behind “undisclosed” N50bn debt, says Ogun governor
Ogun State Governor Dapo Abiodun has announced the discovery of N50 billion domestic debt left behind by the administration of Ibikunle Amosun.
“The increase in the 2020 total debt of the state was due to an undisclosed gratuity and staff liabilities of about N50bn not recognised in the state financial statements in May 2019 at the end of the previous administration,” Abiodun’s spokesman Kunle Somorin said in a statement.
“In order to show the complete picture of all state liabilities, the current administration booked the gratuities and staff liabilities in the financial statements of the state hence the increase,” he added.
Somorin said the Abiodun’s administration got to know about this “amount in the course of our carrying out due diligence on Ogun State finances shortly after we took over.”
“As a transparent government committed to being accountable, we had to disclose this for the first time to give a true picture of the state’s indebtedness,” Somorin said.
Abiodun’s statement was a reaction to the report by the Debt Management Office that the Ogun government incurred N58 billion domestic debt within the period of Mr Abiodun’s administration.
According to the DMO report published March 15, it shows that from June 30, 2019, to December 30, 2020, the Ogun State Government had incurred a total of N58,316,493,347 local debts.