By Ehi Ekhator.
Edo State House of Assembly has allegedly approved N10bn for the state government from the Central Bank of Nigeria, NAIJA CENTER NEWS has learnt.
Edo youth have decried the constant borrowing by the state governor, Adams Oshiomhole has engaged in since he assumed office.
The Youth noted that despite receiving N3.2billion as a bailout fund from the Federal Government, the government has requested for another loan of N10 billion, a loan that is payable in 2 years with an interest rate of 19% annually.
It could be recalled that few months back, youth took to the street to protest against the borrowing of N14.7billion by the state government from World Bank.
If the new speculation is anything to go by, it means the state government led by Adams Oshiomhole has borrowed N27.9bn in three months.
Reacting on a popular social media, Facebook, a commentator, Lance Lance said “This state is a sham, I wonder why some people don’t see this simple and obvious reality, politics has caused so much harm to Edo people. Denial of an obvious and a ridiculous reality is delusion.”
Another commentator Collins Ikp Omoregie said “this is incredibly shocking, what’s the need for such borrowings when he is just a year outta time, will FG even hold apc governors accountable or are they out for only opposition just like the pdp did……politics and politicians-crimes and criminals!!!”
Osazee Edigin who registered his displeasure against Oshiomhole administration said “The level of profligacy in this administration is alarming to say the least, few days ago the executive council went on the retreat in Abuja upon the realisation that the administration have not been able to deliver to the people commensurable dividends owing its promises and expectations and want to do so in the next twelve months. That retreat and the purpose therein has shown a total display of failure of this administration for the past 7 years. If that is among the reason for the implementation of the Land use Charge, Edo people will not pay it. Anyway, some persons have also made their money from the retreat.
“Oshiomhole please! you will soon seize to be the governor, do not mortgage our future and that of our children’s children today
“You will recall about two months ago, he borrowed the sum of $75 million from the World Bank which was the second tranche of such an amount, totally it to $150 million.
“There was another N30 billion that was borrowed for the Storm Water project and others that cannot be remembered for now.
“My candid questions that I will be forced to ask are:
1. Who will pay all these loans?
2. Is our great grand children’s future not being mortgage for today?
3. Where are the things that swallowed all the money borrowed thus far?
4. Are we not eating our tomorrow today as it stands now?”
A Special Adviser to the Governor, Prince Kassim Afegbua denied any knowledge of such move by the state government.
He said “I am not aware”
Another aide of the governor, Victor Oshioke, while responding to the speculation said the governor only followed due process in collecting the bailout fund which is speculated to be N10bn signed by the Edo State House of Assembly.
Mr. Oshioke said “It is the bailout approved by the Federal government for states. It is not a new loan. The condition for accessing the bailout approved for all states is that the House of Assembly of each state must approve it before it can be accessed. The EDHA has only just approved it.”
Edo State sinks in debt under Oshiomhole"s administration
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