• Saturday, May 25, 2024
businessday logo

BusinessDay

Lagos PDP opposes governor Sanwo-Olu’s N250bn loan request

Sanwo-Olu

 

The Lagos State chapter of the People’s Democratic Party (PDP) has opposed the N250bn loan request by Babajide Sanwo-Olu, the state governor, saying that the purpose of the loan was shrouded in secrecy.

Sanwo-Olu had recently sought the approval of the State House of Assembly for the approval of the loan which, according to him, would be sourced through the capital market and internally.

He had pointed out that budgetary provisions of both recurrent and capital budgets of ministries, departments, and agencies were not likely to be utilised before the end of the year and the sum of N34.050bn could be re-ordered.

However, in a statement to journalists, Monday signed by Taofik Gani, Publicity Secretary of the PDP in the state, the party urged the State House of Assembly to reject the loan request, stressing that any attempt by LAHA to approve the loan would be a declaration of vote-of-no confidence on itself.

The PDP urged Lagosians to reject the loan request unless the Governor allows public defence.

“We hold that 60% of the sought loan is to be shared amongst the Governor, members of the LAHA and notable chieftains of the APC.

“We declare this assertion as very uninformed and deliberately to divert the state’ internally generated revenue (IGR). We have intelligence reports that the state IGR is now around 60 to 70 billion naira every month, but that the actual collections are never made public.”

The party further urged the state Assembly to summon the Governor and his Commissioner for finance to explain to Lagosians how the state would not have internally generated revenue (IGR) for the remaining months in the year.

“What the LAHA should rather do is to summon the governor, his commissioner for finance to explain to Lagosians how the state would not have IGR for the remaining months in the year.

“Indeed the time is now overdue for the IGR collecting private company, Alpha betta to be reappraised and brought to account to Lagosians. Lagosians have long been short-changed”.

The party accused the Sanwo-Olu led APC government in the state of needlessly further plunging Lagos State into terminal economic misdirection and decisions, stressing that the state was already indebted to over N2 trillion as local and foreign loans whereas no projects to evidence such colossal debt.

“The state is now experiencing the worst distress and economic hardship. The so-called emergencies declared by Governor Sanwo-Olu have all turned out to be mere political statements compelled to feign concern. This is so as no evidence of immediate actions can be noticed,” the party said.

Sawo-Olu was elected on the platform of the ruling All Progressives Congress (APC) and assumed office in May.