Osun debts profile: NBS vindicates us – Aregbesola

Governor Rauf Aregbesola’s administration in Osun said it has been vindicated on the correct position of the state’s debt profile by the National Bureau of Statistics (NBS), which put the state’s total debt at N179bn, as against the over N450bn peddled by opposition elements, particularly the Peoples Democratic Party (PDP) in the state.

The state Commissioner for Information and Strategy, Adelani Baderinwa, stated in a statement that the N179bn included all loans and all other debt instruments obtained by all administrations that have ruled the state since its creation and those inherited from old Oyo State.

The Commissioner explained that even with the NBS’ 179bn debt figure, the government still has the capacity to access loans and pay back in a normal economic situation, adding that government has, indeed, been servicing its debts without public knowledge.

He said: “But for the sudden drop in the federal allocation, which was as a result of mismanagement of the country’s resources and brazen corruption by the PDP-led Federal Government, the state would have continued to run without any noise and financial stress, as it has been doing.”

It would be recalled that Osun State Government has always been saying that no creditor will grant loan facility that cannot be redeemed by the borrower.

“For what it is worth, we state that the loans obtained by the Aregbesola’s administration have been prudently and judiciously used for the undisputable, glaring and transformative development evident in every part of the state.”