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Edo faults PDP on loan indebtedness


Reacting to allegation by the Edo State Peoples Democratic Party (PDP) that the outgoing government of Adams Oshiomhole has plunged the state into huge debt, Oshiomhole yesterday alleged that the PDP government under former Governor of Edo State, Lucky Igbinedion diverted N4 billion bank loan in connivance with then Secretary to the State Government and PDP gubernatorial candidate, Osagie Ize-Iyamu.

A statement issued by the Chief Press Secretary to the Governor, Peter Okhiria, Oshiomhole said: “Our attention has been drawn to the lies peddled by one Pastor Osagie Ize-Iyamu, a factional candidate of the Peoples Democratic Party (PDP) on the debt profile Edo State.

“We make bold to state, and the facts are clear, that in spite of earning the highest revenues from the Federation Account, the PDP states in the South-South region are the most indebted in the region and not Edo State.

“The domestic debt profile released by the DMO as at December 31, 2015, the last time it was issued, listed Delta State as having a debt profile of N320,605 billion; Akwa Ibom had N147,575 billion; Cross River: N115,522 billion; Rivers, N134,9566 billion; Bayelsa N103,374 billion as against Edo which had a far lower profile. While the other South-South PDP states have continued to amass domestic debts with high-interest rates, Edo is close to completely liquidating its domestic debt.

“While Ize-Iyamu continues to peddle his falsehood, we have the record of the N4 billion borrowed by the PDP government of Lucky Igbinedion, with the knowledge of Osagie Ize-Iyamu as Secretary to State Government from Guaranty Trust Bank and Equitorial Trust Bank and paid to an address in Lagos.

“Edo people are not deceived. They know that the PDP and Ize-Iyamu are the ones who have a record of borrowing to steal and not the APC government led by Comrade Adams Oshiomhole.“Our records are open and we run a transparent government. No amount of planted or concocted stories by hack writers will distort the facts.”

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