Connect with us

Politics

We Borrowed $75m From World Bank Because PDP Looted The Treasury, Says Oshiomhole

Published

on

Adams OshiomholeGovernor of Edo State, Comrade Adams Oshiomhole, has said that his government was forced to take a $75 million development loan from the World Bank, because the Federal Government led by the Peoples Democratic Party (PDP) in 16 years had looted the nation’s treasury and pauperized the states.
He also said it was a good thing that President Muhammadu Buhari came at the right time to stop the liquidation of the country.
The World Bank had in 2012 approved a $225 million loan for Edo State Government to be implemented in three tranches of $75 million per annum.
The first tranche of the loan was approved by the National Assembly in the 2012-2014 Federal Government External Rolling Borrowing Plan, while the second tranche was only just last week approved by the National Assembly, upon receipt of a letter from President Buhari.
Addressing reporters at the Government House on Sunday, Mr. Oshiomhole said “If the PDP did not steal the money, we would not need to borrow. What we lost from the NLNG under the PDP Federal Government was about $11.6 billion. Edo State’s share of that money was more than N30 billion. If you realise that from every one billion dollars, we get more than N2.7 billion. So if PDP did not steal and bleed the economy dry, our legitimate revenue stolen by the past PDP government and its men is more than that.
“PDP is simply not in a position to blame the victims of their own looting which is unprecedented in the history of the country. My hope is that they would be brought to justice.
“You heard President Buhari saying last week that after they finished looting the treasury, they even borrowed to loot. You heard the president say that they took a loan from China and they already had taken $600 million from the loan. By now if they were still there, there would have finished the rest.
“In the South-South zone, look at the debt profile, Edo is the least borrowed. The only major loan we have taken since I assumed office was a N25 billion bond out of which we have paid over N20 billion because we are paying N530 million every month.
“As we speak, we have only about N5 billion left of that loan which will be liquidated before the end of this tenure. You heard of bailout, find out what PDP states are borrowing under the bailout plan, not for development but to pay salaries. But Edo State Government is up-to-date with salaries without bail out. You need to interrogate facts and not report these people as if they are responsible people because when you do that, people don’t know the difference between mischief makers and responsible people.
“PDP should simply shut up because they destroyed everything. Carry out your own investigations. You read in the papers how much our neighboring states are borrowing? You heard of N20billion, N30 billion under two months. To do what, to settle the invisibles. You hear them talking about N14.5 billion. We are not borrowing to pay salaries, we are able to do that in spite of the massive looting by the PDP. I appeal to the media because you are victims and you must interrogate these thieves when they break the highway rules and want to divert you. When you ask questions, they say you want to witch-hunt. Why won’t you witch-hunt when the witches are killing people in the village.
“For me, the only regret I have is that somehow, these rogues can seemingly eat their cake and yours and go out to complain that the cake is missing when it is in their stomach. I also need you to consult the World Bank to look at the statement they issued that Edo is the second state, Lagos being the first; that these two states have shown sufficient reforms, transparency, accountability in Internally Generated Revenue and reforming the public policy to ensure value for money.
“They are providing these facilities as a measure for encouraging other states to take a cue from what Lagos and Edo are doing. If this is the basis of support and you are listening to a bunch of armed robbers of what they think about decent society, they would rather borrow at 20% and they are envious that we are attracting a facility more or less at zero cost of 1% spread out over 20 years. If you read the report of the Senate, it says about 17 states and these are PDP states have applied for this facility but because of their public image, the World Bank is not willing to loan to them.
“I read in one of the papers that about $2.2 million donated by an NGO to support the election was stolen and they were compelled to return it but the former Minister Finance said it was witch-hunting because they have refunded the money but it was misapplied.
“You hear PDP say nothing has happened in Edo State. Even the Hospital we are building, the Benin City Water Storm project, just one project is more than the entire loan we have taken. So as we speak, Edo is the least borrowed. Every state now is borrowing money for salaries. You are not just to parrot the views of armed robbers. When you report, you say however, it will be recalled that, that way, the reader understands who is saying the truth”, Mr. Oshiomhole said.

Politics

Ondo Election: Jegede Files Petition Against Akeredolu’s Victory

Published

on

Ondo Election: Jegede Files Petition Against Akeredolu’s Victory
Ondo Election: Jegede Files Petition Against Akeredolu’s Victory

Eyitayo Jegede

Eyitayo Jegede, candidate of the Peoples Democratic Party in the October 10, 2020, governorship election of Ondo State, has challenged the victory of Governor Rotimi Akeredolu in the exercise.

Jegede, a Senior Advocate of Nigeria, filed a petition at the election petition tribunal sitting in Akure on Friday.

The PDP candidate has also joined the Independent National Electoral Commission (INEC), the All Progressives Congress, and the deputy governor-elect, Lucky Aiyedatiwa, in the petition.

Also Read: Ondo Guber: INEC Presents Certificate Of Return To Akeredolu, Deputy

Jegede is challenging the election on four grounds including “That the election was marred by irregularities and pockets of violence and intimidation”.

He also faulted the emergence of Governor Akeredolu as the candidate of the APC during its governorship primary election held on the 20th of July 2020.

Continue Reading

Politics

AlphaBeta’s Collection Of $19m Monthly Revenue In Lagos Sacrilegious, Says Bode George

Published

on

Bode George
AlphaBeta’s Collection Of $19m Monthly Revenue In Lagos Sacrilegious, Says Bode George

Bode George

A chieftain of the Peoples Democratic  Party (PDP) Chief Bode George has described the collection of internally generated revenue in Lagos state by a private firm called AlphaBeta, which earns around N7.5bn ($19 million) monthly as sacrilegious.

The former National Port Authority (NPA) called on the state government to block all forms of revenue leakages.

He made this known while speaking on Arise TV on Friday morning.

Also Read: BREAKING: IGP Replies Amnesty, Says Policemen Didn’t Shoot #EndSARS Protesters

“There are so many leakages in the Lagos State Government purse. Take this AlphaBeta; who owns this AlphaBeta? What is the essence of the AlphaBeta? Where else in the world would you have an Inland Revenue Service, who have their own staff who are supposed to go out and collect the fees, but you have an independent company to be supposedly collecting the internally generated revenue from our state?

“It grosses around N50bn (about $130m) a month and you know how much that company (AlphaBeta) is paid 15% of it, that’s N7.5bn in thirty days going to the company, that is a leakage, that is sacrilegious.”

 

Continue Reading

Politics

Ganduje Reinstates Suspended Aide Who Attacked President Buhari

Published

on

Governor Ganduje
Ganduje Reinstates Suspended Aide Who Attacked President Buhari

Governor Ganduje

Governor Abdullahi Ganduje of Kano State has reinstated his Special Adviser on Social Media, Tanko Yakasai.

According to reports, the Kano State Governor who had earlier suspended his media aide for condemning President Muhammadu Buhari over #EndSARS protests reinstated the aide without many details.

Also Read: Wike Signs Executive Order Proscribing IPOB, Lifts Curfew

Yakasai on his Twitter account had accused Buhari of being insensitive to the plights of Nigerians during the #EndSARS protests across the nation.

The development saw Governor Ganduje suspend his aide who was commended by Nigerians for the courage.

Ganduje, however, has ordered the reinstatement of his aide two weeks after his suspension.

Continue Reading

Trending