BREAKING NEWS!!! GOVERNOR AMOSUN GOING FOR ANOTHER LOAN TELL THE HOUSE OF ASSEMBLY REPRESENTING YOU TO OPPOSE IT My attention has been drawn to a new loan request dropped before the House of Assembly by Governor Ibikunle Amosun to secure another N2b loan from the bank which he claimed he needed for Ogun State Agriculture and Multipurpose Credit Agency (OSAMCA). I am aware that he is to use the N2b to secure another N4b loan through a Commercial bank to finance his 2015 election. To finance the business of governance with loans and other financial instruments is not really an issue for me but WHERE IS THE TRANSPARENCY IN ALL THESE SHADDY DEALS? There are Many questions yet unanswered about past loans and procedures; The Debt Management Office (DMO) set up lacuna is yet to be attended to; True State of our Debt Profile is still shrouded with ambiguity; You will recall that sometimes ago a public statement alerting our people to another loan request of N19 billion by the Governor Ibikunle Amosun Government was made. In that Statement, It was averred that the claim of the government to be owing only N35.6 billion was false and misleading. Let us ask further question on the below and share same with our House of Assembly members: LOANS/DEBTS ISSUES IN OGUN STATE With the appearance of some Commissioners in the Government at the OGHA and the documents extracted from them a few months ago, it became very clear that the present administration of Senator Ibikunle Amosun is economical with the truth. The following is the record of the debt profile of the state as submitted to the OGHA by the Government itself: Approvals from the OGHA 1. N26 billion out of which N18b was accessed from the banks. 2. N40 billion for the joint projects with Brazillians. This wasn’t accessed from the banks. 3. N7.5 billion fully accessed. 4. N15 billion fully accessed. 5. N1 billion for Agriculture fully accessed. 2. N2 billion for Housing fully accessed. Total accessed from local banks = N43.5 billion Outstanding cash liability to local banks = N35.6 billion Total amount repaid = N7.9 billion Foreign loans. = N15.9 billion TOTAL CASH LIABILITIES = N51.5 billion DEBT TO ROAD CONTRACTORS 1. Total INITIAL value of road contracts (25 in all) = N237.47 billion. 2. Variation (that is, upward review of initial sums) = N34.62 billion. 3. Gross value of road contracts = N272.09 4. Total amount paid to date to road Contractors = N30.26 billion. 5. TOTAL DEBT TO ROAD CONTRACTORS = N241.83 BILLION From the foregoing, the TOTAL DEBT EXPOSURE of the Ogun State Government under Governor Ibikunle Amosun on just two headings is N51.5b + N241.83b = N293.33 billion. LET US SHOUT NOW BEFORE THIS MAN FURTHER PLUNG OUR STATE INTO HUMONGOUS DEBTS WARN YOUR ASSEMBLY MEMBERS ON THE IMPLICATION OF GRANTING ANY FURTHER LOAN HAS IBIKUNLE SET UP THE DEBT MANAGEMENT OFFICE (DMO)? OMO OGUN E PARIWO OOO
Posted on: Thu, 11 Sep 2014 10:58:23 +0000
Trending Topics
Recently Viewed Topics
© 2015