The debt profile of the State of Osun released by the National Bureau of Statistics (NBS) has vindicated the State Government of Osun’s position on how much is owed and paid.
In a press release made available to Infotrust, Commissioner for Information and Strategy, Adelani Baderinwa stated that, “opposition were arbitrary and unreasonable in vomiting irresponsible figures with a view to maligning the government.
“The NBS has put both the internal and external loans, bound and other credit line obtained by the State Government to N179bn ($96, 347, 432, 73 and N147, 069, 973, 626.49) as against the wanton figure of N600bn at a time, N450billion at another and N400billion as found suitable by the bound of hopeless opposition”, he said.
He however pointed out that the State government total debt is N179bn which includes all loans and all other debt instruments obtained by all administrations that have ruled the state since its creation and those inherited from the old Oyo state.
Adelani said, “Even with the NBS’s 179bn debt figure, the government wishes to note that the loan is still within its capacity to access and pay back in a normal economic situation and government has indeed been servicing its debts without public knowledge before the Peoples Democratic Party induced economic recession.
“But for the sudden drop in the federal allocation which was as a result of the 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 had been doing. It will be recalled that the State Government of Osun has always been stating that no creditor will grant loan facility that cannot be redeemed by the borrower.
He stressed that the loans obtained by the Aregbesola’s administration have been prudently and judiciously used.
“It is a well known fact that most successful governments in other parts of the world achieve development and great dynamic society through the aid of loans and other financial facilities which they put to good use as have been done in the State of Osun”, Adelani added.
Speaking further, the Commissioner for Information and Strategy quipped, “We bring to fore, China and U.S.A that are the most developed economies in the world and are incidentally countries with the highest debt profile which indicated that as rich as they are, their resources seem not enough for their development plans, thereby resorting to loans.
“The administration of Governor Rauf Aregbesola as a visionary, prudent, accountable and proactive one took the loans to finance rapid development of infrastructure that made Osun a reference point and cynosure of good governance in the land.
“May we note that with the new look that the state is carrying today in terms of infrastructure and socio-economic development by which many accolades had been poured on the government of the State of Osun led by Ogbeni Rauf Aregbesola at national and international levels, and the facts that many of its projects have been copied at national and international levels, commendation is what should be showered on the government by the people as they often do.
He therefore commends Governor Rauf Aregbesola for his ingenuity, vision and ceaseless efforts in transforming the State of Osun to an Eldorado. “With the loans, Osun has been able to summon the challenges of poor roads and dilapidated school infrastructures”, he said.
“We now have good roads and modern schools, our hospitals are now a reliable healthcare centre and not death centres, the state capital is now having a befitting look unlike before. It is left for the mischief makers and the naysayers to appreciate the good work of Ogbeni Rauf Aregbesola; the right-thinking people (both elites and illiterates) of the state appreciate and commend Aregbesola’s for the development and transformation of the State of Osun.
He urged the opposition to stop their destructive tendencies and be responsible in carrying out their democratic rights in manners that will help the state to grow further and not the pull him down syndrome they have consistently engaged in.
“Damaging the image of the state is not what opposition is about, but pointing out errors made by government and offer viable alternative solution for the good of all as at when due.
“The ravenous, drained and docile oppositions, most especially the PDP, should henceforth desist from wickedly feasting on the acquired loan to rubbish Aregbesola’s achievements” he added.
