The new governor of Osun State, Ademola Adeleke, has revealed his predecessor, Gboyega Oyetola, took an N18 billion loan after the July governorship election in the state.
On Thursday, December 15, Adeleke told traditional rulers in Osogbo that the state is in debt to the tune of N407.32 billion.
According to him, there was no detailed record of how Oyetola spent the loan he received before or after the election.
Adeleke stated that his government inherited eight credit facilities, as well as a pension and debts, with payback terms ranging from 16 months to 28 years.
In his words;
“My good people of Osun state, the total loan stock as at today is N331.32 billion. If the N76 billion debt on salaries and pension are 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 at 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 for 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.