Osun state governor, Ademola Adeleke has said that he inherited debt to the tune of N331.32 billion from the administration of Gboyega Oyetola.
He also accused Oyetola of taking N18 billion loan after he lost the Osun governorship election on July 16th, 2022.
ASHENEWS reports that Adeleke made the allegation during a meeting with traditional rulers in Osogbo on Thursday.
According to Adekele, when he took over the mantle of leadership on Monday 29th November 2022, the only money left in the coffers of government was meant for November 2022 Salary.
He told the traditional rulers that as of November 30th, 2022, Osun state is indebted to the tune of N407.32 billion.
“My administration inherited eight outstanding loan facilities, apart from salaries and pension debts, from governor Oyetola’s administration.
“My good people of Osun state, the total loan stock as of today is N331.32 billion.
“If the N76 billion debt on salaries and pension is added, the state is indebted to the tune of N407.32 billion.
“The amount owed to contractors is yet to be determined.
“The only fund in government coffers, as of Monday 29th November, was for November 2022 salary. Otherwise, the state treasury was empty.
“As your governor, I will ask questions on your behalf. And will demand answers.
“Governor Oyetola must explain how the N331 billion borrowed in the name of Osun state was expended, with no obvious infrastructural development to justify this huge debt.
“Governor Oyetola must explain how the N18 billion bridge loan is taken after he lost the election on July 16, 2022, was expended.
“Governor Oyetola must also explain why Osun state is owing salaries and pension to the tune of N76 billion after collecting an N50 billion salary bailout loan from the federal government.
“The creditors, especially the commercial banks must explain why various loans were given to an administration beyond its 4-year tenure. 28 years is equivalent to the tenure of at least four governors. A child that is born today would have earned a PhD at 28 years of age.
“This is nothing but mortgaging the future of Osun state with nothing to show for it. This is definitely not acceptable,” Adeleke told traditional rulers.
