N480 Billion Loan: Omisore Is Mischievous and Ignorant, Says Aregbesola

imageOsun State Governor Rauf Aregbesola has described the governorship candidate of the Peoples Democratic Party (PDP), Senator Iyiola Omisore, as mischievous and ignorant.
The PDP candidate alleged that the government took a N480 billion loan.
During a radio interview, Omisore said Aregbesola unduly exposed the state to “an unnecessary loan”.
The Director, Bureau of Communication and Strategy, Office of the Governor, Semiu Okanlawon, said the PDP candidate fabricated the loan figure.
He said the “loan fabrication” has exposed Omisore’s ignorance in matters of public finance.
“By virtue of the open nature of the Aregbesola administration every informed person in Osun and beyond has the figures of the state’s borrowings.
“Osun could not have borrowed in secrecy as the two bonds in the capital market and the Sukuk Bond were taken in celebrated manners.
“The government took the N14.4billion Sukuk bond in two tranches; it also approached the capital market for a N30 billion loan. These are verifiable facts and are in public domain.
“So, what is new about this except that Omisore is only being mischievous in quoting his own figure.
“He is only regurgitating the same old-fashioned lies that could not help him dislodge Aregbesola in the August 9 governorship election.”
The governor said the people whom he owes explanation about the state’s finances are well-informed about the state finances.
He, therefore, asked Omisore to explain why states under the control of the PDP are among the highest indebted states in Nigeria.
“If it is not a crime for a government to source for funds for the development of the state, Omisore needs to tell us why states under the administration of his party are among the highest debtor-states in Nigeria.
“So, if states with higher revenues from the Federation Account could borrow, how do you explain a state like Osun, which is number 34 on the allocation ladder, not seeking financial help where applicable to aid its development?
“The other alternative, as Omisore would want us to believe, is for Aregbesola’s government to have left our dear people the way he met them and not lift a finger to transform their lives,” he said.
According to Aregbesola, this is not the first time Omisore would throw up bogus figures as a means of confusing the people.
He continued: “It is sad to note that this politician has failed to realise that this is the very strategy that has been his greatest undoing.
“For instance, the Gbongan-Akoda Road; Osogbo-Ila-Odo-Kwara Boundary Road, which Omisore has fraudulently put at N102 billion all together cost a bit higher than N60 billion.
“The Gbongan-Akoda-Osogbo Road costs N29.2 billion; the Osogbo-Ilaodo-Kwara Boundary will gulp N17.8 billion and the Oba Adesoji Aderemi Second Bypass Road N14.5 billion.”
He said it would have made more sense for Omisore to give a complete breakdown of his figures and show how he arrived at N480 billion.

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