Breaking News

Osun PDP Seeks Explanation From Aregbesola on Alleged N172b Borrowed Funds



Osun State chapter of the Peoples Democratic Party has asked the state governor, Mr Rauf Aregbesola to explain to the people of the state how he allegedly spent a total of N172billion loan said to be due for repayment between the year 2034 and 2042.


The party made this demand in a statement issued by its chairman, Hon.Soji Adagunodo in Osogbo on Friday.


Details of the loans, according to the party are N88 billion Naira commercial loans restructured by the CBN and due for repayment in 2034; bailout funds totalling N35Billion to be repaid in 2035 and N49billion from Islamic bank due for repayment in 2042.


The party also challenged the governor to explain  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.


The PDP chairman also accused Aregbesola of boasting 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.


Adagunodo said,  "regrettably, only 20 percent of that road has been done in spite of more than 8 billion Naira paid to the contractors handling the project".


He accused the  administration of Ogbeni Aregbesola of approving upward review of contract sums on these projects without commensurate work on site.


The PDP chairman added that 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.


He said the people of Osun state on whose behalf these humongous debts were incured  have the right to know why they have no value for the monies expected to be paid over such a long period of time.

No comments

Amiloaded readers are solely responsible for their comments, Their comments does not represent the views of the admin.

We have a comment policy, if we find your comment insultive and not good for others to read, we will be forced to remove it.

Thanks.....keep commenting, we love them