Governor Adegboyega Oyetola of Osun State has stated that his administration has not borrowed a dime since it came on board on November 27, 2018.
InsightMedia gathered that the Oyetola’s administration inherited a debt profile of about N200bn borrowed by previous administrations, but the government under him has been able to repay N70bn from the liability.
The Governor spoke on a radio programme as part of the activities marking the 30th anniversary of the creation the State.
He added that the state government spends an average of N3b every month to offset salaries of workers, adding that the salaries are being paid as at when due.
“Well, debt ordinarily is something that happens one way or the other because we don’t have all the resources to do what we want to do. So, debt is actually not a curse. What is important is to ensure that whatever debt incurred is actually channelled towards capital projects that will impact positively on the people”.
“Yes, Osun had its own share of debts. I don’t want to go into so many of those details. What is important is to move forward. We are coping with whatever debts that have been incurred over time, and we are ensuring that that does not stop us from doing what we need to do as a government in the area of infrastructure, health, education and security. I think that’s the way to talk about it, even America owes a lot of debt”.
“They live on debt, actually. But I think we’ve actually been able to manage the state’s debt portfolio. We’ve been paying back the inherited debt and we’re still doing a lot that we need to do as a government”.
“No. I have not borrowed. But that is not to say that I might not borrow, given the fact that you must do some of the major projects that need time, that is, time-bound, particularly given the cost of infrastructure that is going on now, you may have to really find a way of ensuring that you complete whatever you’re doing”.
“But what is important to me is the fact that even if I must borrow, I must do it in such a way that will not affect meeting my obligations to the people including payment of salaries and pension. However, as of today, 27 August 2021, we’ve not borrowed” he said
