Edo govt prudent with debts, proceeds utilised to drive devt. – Obaseki’s Aide

-

... ‘We are still paying off PDP’s debts’

The Edo State Government has flayed the Peoples Democratic Party (PDP) in the state for making unfounded claims of the state’s debt status, noting that the party was being mischievous with facts.

Special Adviser to the Governor on Media and Communication Strategy, Mr. Crusoe Osagie, said the state government has been prudent with external borrowings incurred since the All Progressives Congress (APC) came on board and has utilised all the credits judiciously to fund developmental projects.

Osagie said a significant portion of the debts the state is currently paying off was incurred by the PDP government in the state at the height of its dubious foray into borrowing, for which it got so notorious in squandering, that several multilateral organisations blacklisted the state from their financing facilities.

According to him, “As at today, Edo state is still paying a N30 billion debt taken from the African Development Bank (AfDB) for the development of water infrastructure. There is also a Union Bank loan taken and put in the balance sheet of Edo Line. These are besides several other such borrowings, which officials of the PDP government took privately and converted to state liability. The State Government is still paying all these debts.”

Osagie said that it was disheartening that an entity that exhibited the most primitive understanding of public finance would then come out to make unfounded claims about the prudent management of the state’s finances by a globally renowned investment banker.

He said, “The PDP is still raising evil guts to talk about these debts, when in fact, they are the ones who threw the state into the debts. The PDP were so irresponsible in debts and loans that the World Bank placed a ban on Edo State government. These loans were of single digit interest and the moratorium ran into 10 years.”

He noted that it was not until the APC came into government and reformed the state’s finance, that they were able to access these financing facilities from multilateral organisations.

Osagie added, “It was during the reign of the PDP that the United Nations Development Programme (UNDP) pulled out of the state because of the irresponsibility of the government at the time. The PDP lacks the credibility and moral standing to make any comment.

“They are made up of people who lack the capacity to frugally allocate resources for positive outcomes. Debts at low interest rates are actually good for development and shows the state as viable. It is even better when the debts are used to fund developmental projects.”

_Follow Governor Obaseki on Social Media_
_Website: www.godwinobaseki.com_
_Facebook: fb.com/godwinobasekiofficial_
_Twitter: @governorobaseki_
_Instagram: @governorobaseki_

Comments

Post a Comment

Popular posts from this blog

Canada Fitness Hunt Carnival and Competition commences in Benin

-
Image
By Our Correspondent Cross-section of Coaches in an extraordinary meeting in Benin All is now set for the commencement of the Canada World Fitness Hunt Carnival and Competition (CWFHCC) bid to hold from February 23 to December, 2024 in Benin City, the Edo State capital. The competition which will feature different sports such as Football, Performing Musicians, Board Games, and lots more, is meant to promote fitness and wellness of communities across Nigeria.  According to the CEO of Canada World Hotels- Chief Dr. Omogiade J. O. Edokpolo, the competition which is in partnership with Edo State Sports Commission, Performing Musicians Association of Nigeria (PMAN) Edo State chapter, Hotman Stinburge Etobicoke Canada, EBENCO Global Link Limited, Global Travels Ontario Canada, Folton Sports Equipments- St. Catrines Ontario Canada, Edo Progressive Indigenous Association (EPIA), and thers, will also feature celebrity guests and judges, music, comedy, games, fitness parade, and lots more. He sa
Read more

Edo Man O' War hold 2024 Commanders' Retreat

-
Image
... Unveiled political culture of non-violence public sensitization campaign for Edo 2024 Gubernatorial Election The 2024 State Commanders Retreat and Workshop of Man O' Nigeria, Edo State Command has been held in Benin. The retreat whose theme was "Optimizing the Potentials of Volunteers towards enhancing Nationl Security", featured presentations by several resource persons. The retreat also featured the unavailing of political culture of non-violence public sensitization campaign for Edo 2024 Governorship Election by the State Commandant- Amb. Odunze C. Eberechukwu. While delivering a presentation, the Deputy State Commandant Training, Operations and Rescue- DMC Onoha Uchena Kelly highlighted the importance of Commanders and members training in the discharge of their duties. According to him, one cannot embark on a journey he or she don't know about, hence the need for training and retraining. "Training can be both technical and vocational. The technical traini
Read more

The Man Godwin Obaseki: Getting the Job Done - Chris Osa Nehikhare

-
Image
There is no iota of doubt, irrespective of political differences, that Governor Godwin Obaseki has significantly improved State Competence, relative to his predecessors and across the States in the Country.  To achieve this, he had to rescue the State from private capture by ruthless non-State actors; this freed up public resources for public purposes.  He has held himself to a very high ethical and work-ethics standards, scrupulously focusing on the interests of the real people whilst staying on the Constitutional tracks in line with his oath of office. As a result, it was difficult to derail or defeat him despite uncountable battles in the judiciary and in other political machinations, orchestrated from high quarters.  Edo State is not yet on the mountain top, it still needs concerted push to avoid a free relapse or rollback.  The quality, intensity, ruggedness, doggedness and character of the next Governor is therefore so crucial that those lining up for the job should critically as
Read more