The Osun State chapter of the Peoples Democratic Party (PDP) has revealed that Osun state governor, Ogbeni Rauf Aregbesola has successfully mortgaged the future of the state through huge loan due for repayment till 2042.
This was made known in a press statement made public in Osogbo, the Osun State capital on Friday, when the Chairman of the party, Mr Soji Adagunodo called on governor Aregbesola to explain to the people of the state how he spent a total of N172billion loan due for repayment between the year 2034 and 2042.
He explained that the state acquired loans of: N88 billion Naira commercial loans restructured by the CBN and due for repayment in 2034; bailout funds totaling N35Billion to be repaid in 2035 and N49billion from Islamic bank due for repayment in 2042.
Adagunodo said, “The governor should explain to Osun people why the three major road projects which he has often boasted have not progressed beyond 30 percent five years after the contracts were awarded in secret and contract sums fully paid in most cases.
“The projects are the Osogbo-Ikirun Ila Odo road awarded in 2012 and expected to be completed in 24 months, the Gbongan- Akoda road awarded in April 2013 and the 18 kilometre Osogbo East By-pass awarded over 5 years ago.
“Ogbeni Rauf Aregbesola boasted severally in late 2011 that Osun travellers would no longer have to go through the rigour of Iwo road roundabout whenever they were heading to Lagos in view of a new road that would link them straight to Ijebu igbo-Sagamu to Lagos.
“Regrettably, only 20 percent of that road has been done in spite of more than 8 billion Naira paid to the contractors handling the projects.
“What made these contracts and the unending cost variations suspicious was the fact that the companies handling them are suspected to have strong links to persons in government both at the national and state level”, Adagunodo posited.
The PDP Chairman maintained that Osun state, on whose behalf these “humongous debts “were incurred, have the right to know why they have no value for the monies expected to be paid over such a long period of time.