Rasheed says DMO vindicates Adeleke as Osun’s debt reduces

…State repays N62.31bn domestic debt, $13.61m foreign loan

Olawale Rasheed, Spokesperson to Governor Ademola Adeleke of Osun State has said that data released by Debt Management Office (DMO), has vindicated the Adeleke-led Administration on the debt profile of the State.

Rasheed, in a statement signed and made available to newsmen in Osogbo on Sunday, stated that the data contradicts reports published by an online news platforms and amplified by the All Progressives Congress (APC).

Rasheed said that according to the DMO, the domestic debt of Osun was ₦148.37 billion as at December 2022 but reduced to ₦86.06 billion as at June 2024 while Foreign Debt as at December 2022 was $91.78 million but reduced to $78.17 million as at June 2024.

He said,”The truth remains that Osun State debt profile has actually reduced under the leadership of Governor Ademola Adeleke in the last two years. Data doesn’t lie and cannot be hidden.

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“The Domestic debt of Osun was ₦148.37 billion as at December 2022 but it has now reduced to ₦86.06 billion as at June 2024. In the same manner Foreign Debt as at December 2022 was $91.78 million but it has now reduced to $78.17 million as at June 2024.

“What that means is that the Domestic debt of Osun reduced by 42% and also the External debt reduced by 15% within two years of our administration.

“What this also mean in terms of figures is that Governor Adeleke has paid back #62.31billion as domestic debt and paid off $13.61million in foreign debt, this is the burden the APC led past administration imposed on the people of the state. If this administration didn’t inherit those debt, these said amounts would have been better used for the good people of Osun state.

“The online medium failed to do due diligence and published APC’s fabricated fake news. The figures published by the DMO has now exposed the falsehood and fake news.

“The fact remains that Governor Adeleke has not taken any loan. There is transparency and accountability in this government. We are concerned about the welfare of the people and we will keep doing that.”