NBS Report on Debt Profile Authenticates Aregbesola’s Prudence, Financial Ingenuity – Osun Commissioner

NBS Report on Debt Profile Authenticates Aregbesola’s Prudence, Financial Ingenuity – Osun Commissioner

The Osun State Government has said that the recent report of the National Bureau of Statistics (NBS) on the debt profile of the state has once again vindicated the Rauf Aregbesola led administration and slammed critics over its prudence in financial management.
The Government explained that the report which states that the state is indebted to the tune of N179bn discredits allegations from the opposition that Osun currently owes over N600bn, N400bn and N450bn.
It also added that aside the “unreasonable” figures quoted by the opposition, the report also gave Governor Rauf Aregbesola a clean bill of health on his financial Re-engineering drive.
A statement by Adelani Baderinwa, the Osun State Commissioner for Information and Strategy in Osogbo stressed that although the present administration in recognition of its drive to rapidly develop the state obtained credit facilities, residents of the state are witnesses to the transformation that has been recorded in the last six and a half years.
Baderinwa said the figure released by the NBS is for the total debt accrued since the state’s creation in 1991 and not just the sum of credit facilities obtained by the Aregbesola administration.

The statement said “The NBS has put both the internal and external loans, bound and other credit line obtained by the State Government to N179bn ($96, 347, 432, 73 and N147, 069, 973, 626.49) as against the wanton figure of N600bn at a time, N450billion at another and N400billion as found suitable by the bound of hopeless opposition.”
“The State government wishes to note that the totality of N179bn includes all loans and all other debt instruments obtained by all administrations that have ruled the state since its creation and those inherited from the old Oyo state.
“Even with the NBS’s 179bn debt figure, the government wishes to note that the loan is still within its capacity to access and pay back in a normal economic situation and government has indeed been servicing its debts without public knowledge before the Peoples Democratic Party induced economic recession.”

“For what it worth, we state that the loans obtained by the Aregbesola’s administration have been prudently and judiciously used for the undisputable, glaring and transformative development that is evident in every part of the state. Any thinking or submission contrary to this must be a product of deluded mind and or mischievous head.”
It is a well known fact that most successful governments in other parts of the world achieve development and great dynamic society through the aid of loans and other financial facilities which they put to good use as have been done in the State of Osun.
Baderinwa stated that “The administration of Governor Rauf Aregbesola as a visionary, prudent, accountable and proactive one  took the loans to finance rapid development of infrastructure that made Osun a reference point and cynosure of good governance in the land.”
“May we note that with the new look that the state is carrying today in terms of infrastructure and socio-economic development by which many accolades had been poured on the government of the State of Osun led by Ogbeni Rauf Aregbesola at national and international levels, and the facts that many of its projects have been copied at national and international levels, commendation is what should be showered on the government by the people as they often do.”
The Osun State Commissioner for Information and Strategy however urged the opposition to be constructive in its criticisms as “Damaging the image of the state is not what opposition is about, but pointing out where the government needs to improve for the betterment of the state.”

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