PDP blasts Aregbesola over rise of foreign debts to N70bn

The Peoples’ Democratic Party (PDP) in Osun State has called on Governor Rauf Aregbesola to explain how the state’s foreign debt rose from zero in 2010 to N70 billion in April this year.
The party in a statement issued in Osogbo by its spokesman, Prince Diran Odeyemi, said the latest report released by the National Bureau of Statistics which covered finances of states till April this year, showed that the governor and his cabinet members had milked the state’s treasury dry.
The PDP said the NBS in its latest report placed Osun on the 7th position, with Lagos taking the lead with N377.216 billion.

The party spokesman stated that, “From findings, Osun had fully paid up the loan obtained from the Paris Club to finance Ede, Ejigbo and Ilesa water projects by late Chief Bola Ige of the old Oyo State as at end of Chief Bisi Akande’s tenure.
“Also, the Debt Management Office throughout the tenure of a PDP government between 2003 and 2010, had continued to deduct the loan from monthly allocations of the state which really affected its accruals until the same administration made efforts to ascertain the status of the loan and it was discovered that it had been fully been repaid as it 2002.
“Before PDP exited office, we had also commenced the process to get refunds of the over deducted monies running to several billions of naira. From findings, we also discovered that the DMO had not only paid the deductions, interest was also added.”
Daily Post