Home Latest News Aregbesola, Omisore bicker over Osun’s debt profile

Aregbesola, Omisore bicker over Osun’s debt profile


Former Deputy Governor of Osun State, Senator Iyiola Omisore, has said that the loans taken by Governor Rauf Aregbesola’s administration from various sources since 2010 when he assumed office currently stands at over N480 billion.

But Aregbesola said Omisore’s figures are discredited and fraudulently arranged to blackmail him.

Speaking on a radio programme in Ile Ife yesterday, Omisore   also accused Aregbesola of alleged financial recklessness and lack of proper planning that plunged the state into its present mess.

Governor Rauf Aregbesola and Senator Iyiola Omisore

According to him, the loan burden and the alleged continuous wasteful spending by the governor are some of the reasons the administration has been unable to pay workers and pensioners for the past seven months.

Omisore who was the Peoples Democratic Party, PDP candidate in last year’s election alleged that the governor also wasted the state’s resources on political campaigns during the last governorship poll and the just concluded general election without minding the consequences.

His words: “The principal debt of Osun State under Ogbeni Rauf Aregbesola is N480 billion. They took N300 billion loan amounting to N10 billion for each of the 30 local government councils.

“ They first raised N60 billion bond and later another N40 billion bond. They borrowed for O’meal project, borrowed for school uniform project, they borrowed for airport project.

Governor   Aregbesola in his reaction  said Omisore, “has merely demonstrated further the mischief and ignorance he is known for with the fraudulent N480 billion loan figure.’’

According to the Director, Bureau of Communication and Strategy, Office of the Governor, Semiu Okanlawon,  while Omisore’s fabricated N480 billion loan figure exposes his ignorance in matters of finance, he has also demonstrated his mischief in the outright lies in his figures.

“Every knowledgeable person in Osun and beyond has the figures of the Osun borrowings by virtue of the Aregbesola administration’s openness.

“Osun could not have borrowed secretly as the two bonds in the capital market and the Sukuk Bond were celebrated.

“While we took a N14.4billion Sukuk bond in two tranches, the state government also approached the capital market for a N30 billion loan.

“These are verifiable facts and which are in the public domain. So, what new thing has Mr. Omisore  said other than regurgitating the same old-fashioned, weather-beaten lies that could not help him dislodge Aregbesola in the August 9 governorship election?”

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