Debt profile: We inherited N51.45bn, not N49bn, says Amosun

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From MOSHOOD ADEBAYO, Abeokuta

Ogun State Governor, Ibikunle Amosun has said that he inherited a debt profile of N51.45 billion and not N49 billion from his predecessor, Otunba Gbenga Daniel. The governor who spoke through his Commissioner for Finance, Mrs. Kemi Adeosun made the clarification last Friday while defending his ministry’s budget at the state House of Assembly, Oke-Mosan, Abeokuta. According to the state governor, it amounted to deceit, falsehood and dishonest for anyone or group to have stated otherwise when the records showed that the debt profile of the state was in excess of fifty-one billion naira before we came in.

“The figure of N49 billion, which the previous administration claimed that it was the debt they left behind is not actually the debt as at May 31, 2011 they left office, but as at March 31, 2011. “Between March 31, 2011 and May 31, 2011, they incurred additional debt of N4.3billion, so it is not correct for them to have claimed that they left behind a debt profile of N49 billion. “It was dishonest for them to have said that they left N49 billion as debt when actually, the profile is more than that.

I will not use the word lie, but I say with all sense of responsibility that it is false and very misleading on their part.” Adeosun who told the lawmakers that she did not generate any figure by herself added: “By the time we came into government, the figure we got from the Debt Management Office, DMO was in excess of N51 billion. That was the debt we inherited from the books kept in the DMO’s records.” She stated that the state government under Amosun had made a lot of progress in reducing the debt profile, though she disclosed that currently the state had a debt profile of N63.6 billion.

“Currently, we have as at November 30 2012, the sum of N63.6 billion with N12.6 billion as the net increase in debt of the state.” Adeosun, who expressed delight at the progress being made by her economic team, said the current administration had brought everything under control. “We have brought everything under control and unlike before we came into power, the state is now the darling of many investors who want to do business with her. In every action we are taking, the interest of our dear state is paramount,” she ended.

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5 Comments

  1. Your excellency,everybody knows that bulk of that money was stolen by the last government and is there any effort by your government to recover the money from the past thieves (Governmnt)?

  2. @Jide O, thanks for your comment, i am indegene of Ogun State, so i knew how the former government under Gbenga Daniel destroyed the State through massive corrupt practices that characterized his inglorious eight year rule in our dear state.
    There was total collapse of infrastructures across the state during OGD tenure which this present regime under Ibikunle Amosun are confronted with among other numerous challenges that need a lot of funds to combat.
    OGD suppose to be in jail by now for his reckless mismanagement of State’s finances during his tenure.

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  4. please can someone tell Mr Governor that it is high time the governor stop the act of immaturity and political bickerness and acrimony that has lost vague in Nig political terrain. Pls face the governance squarely and deliver on electoral manifestoes and pledges.
    Leave Daniel alone as everbody known his worth. Your own cardinal programme should be dealt wuth vigorously. Unknown to you and your political machineries u are given him unpaid advert n political promotion via rubbishing his image and comment about him at all time

  5. Ade77 u must be a stupid person if not we are talking about somebody who spent over 51billion naira of u n I without anything to show for it n de person that took over from this good for nothing man was trying to make life better for Ogun people n u think u have de right to bad mouth this present administration. In another country, de likes of this useless Danil should be behind bars for yrs to come n all de money he stole should be forced to refund them. Don’t u have any shame at all. Pls, let be honest wfor once, can u Ade77 mention one thing that this idiot achieved for 8yrs he ruled Ogun state. Do u really want to tell me that there is no different btw daneil n Amosun govt?, if u think so then u’re realy ano imbercil. Am sure u’re one of daniel boy that ruined Ogun state for 8yrs, or are u not. History will certainly not forget n forgive u all.

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