• Wednesday, May 22, 2024
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Adeleke debunks borrowing N10b to finance state projects

Ademola Adeleke
Governor Ademola Adeleke of Osun State has debunked the report that his administration borrowed from foreign bodies to the tune of over N10 billion to finance ongoing projects in the state.
A report disclosed that the governor reportedly secured N10,022,382,348.40 in loans from different foreign bodies and organisations in 2023.
Mallam Olawale Rasheed, spokesperson to the Governor said Adeleke has not borrowed a kobo since his administration kicked off.
He explained that what the report referred to as loans were World Bank development financing, which, he said, were inherited from the previous administrations.
The statement reads: “The ongoing multi-billion naira infrastructure projects across Osun state have no loan components. They are all being financed through state resources. The dualisation of roads, the overhead bridges, the school and health centres upgrades, and several road projects are being funded through special project accounts created by the State Government.
“What the report referred to as loans taken by Governor Adeleke were World Bank Development financing which were inherited from the previous administrations and which are national projects operated through the Nigeria Governors’ Forum, and the National Economic Council among others.
“Such programmes of World Bank and multilateral institutions development includes Ilesa Water project; establishment of Osun Investment Promotion Local Business Offices across nine Federal Constituencies; O-Cares For Agricultural Support Services; World Bank On Saber For Development Of PPP; World Bank On Saber For Establishment Of Osun Investment Promotion One-Stop-Shop.
“Others include World Bank On O-Cares Projects For Coordination Of State Cares (O-Cares) Activities; World Bank On Rural Access And AgriculturalMarketing Project (Raamp 3) for Rural Development Projects; World Bank For Community And Social Development Project On O-Cares; World Bank For Labour Intensive Public Workfare On O-Cares and World Bank For Social Support Programme (Cash Transfer To Indigent Elderly On Osun Covid-19 Action Recovery And Economic Stimulus) – (O-Cares).
“As can be seen from the above, all the projects are related to the World Bank country programme for Nigeria which targets subnational entities using the mechanism of the Nigerian Governors Forum and the National Economic Council. Previous Governors in Osun State joined in the implementation of the projects which Governor Adeleke
“In line with his principle of continuity of policies favourable to the public, the Governor sustained the projects as Osun cannot opt out of a national scheme in which all states of the Federation are involved.
“No responsible government will abandon a series of World Bank projects which are already household names across the Federation and which have benefited so many residents.
“We reaffirm again that Governor Adeleke has not borrowed a kobo since assuming office. Inherited liabilities and contracts cannot be tagged on the Governor of the Year on Infrastructure,” Adeleke stated.