A Civil Society group in Osun State, The Osun Masterminds has once again reiterated calls on Governor Gboyega Oyetola to immediately probe the financial records of his predecessor, Ogbeni Rauf Aregbesola over the financial quagmire the State has entered into.
The group in its March edition of State of the State address delivered by its Executive Director, Dr Wasiu Oyedokun-Alli on Monday in Osogbo, raised concerns over the negative allocation the State received in February.
Oyedokun-Alli described the loans taken by Aregbesola’s as unsustainable, stating that the project executed with the loans are not commensurate with it.
“In the month ended February 2022, Osun State Government received a negative allocation of -375million from the FAAC, out of a possible 1.45billion. The implication of this is that the State will be paying back an extra sum of 375million from next month’s allocations, plus the deductions already waiting in that month.
“While we understand that increasing figures of fuel subsidy has beaten down monthly allocations to various arms of government, the more worrisome implications of this to Osun State is the fact that as the Federation’s finances worsen, Osun will become more incapable of meeting its debt obligations, let alone have any money left to run the State.
“There is an even more disturbing possibility. Now that we have the sum of 375million to repay from March allocation, as make up for shortage in deduction for February, it is clear that shortages in deduction of this nature may continue to accumulate if the Federation’s finances do not improve. This means that monthly, Osun will continue to get allocation deficits that are higher in figure than the last. The worst therefore, may not yet be seen.
“If the State proceeds in this manner, it will steadily progress into insolvency and eventually, total bankruptcy. This is not a point we hope to be in.”
The Osun Masterminds listed some of the projects undertaken by Aregbesola’s administration, which accord to it, are elephant endeavors.
“We begin to recall now, the several white elephant endeavours that the Aregbesola government got itself into. The memories are fresh in the minds of every keen watch of the polity, but for posterity’s sake, we will quickly remind everyone of these legacies that we must as a matter of urgency, reverse and set Osun back on the path to growth.
“It will be recalled that the Osun State Government, under Ogbeni Aregbesola claimed it expended over 8billion on Opon Imo for schools. The gadgets are today nowhere to be found, after gulping such humongous figures.
“Without clear understanding of usefulness and future benefits, the Aregbesola administration expended a whooping 248million on construction of the Hassan Olajokun park in Gbongan. Less than a year after Ogbeni Aregbesola himself commissioned the park, it became home to reptiles and other wild animals, having been left unused and in a State of disrepair.
In March 2018, Ogbeni Aregbesola himself confessed that the concession arrangement for the construction of the MKO Abiola Airport had failed, after the State Government had spent 3.5billion on nonexistent ground works that cannot be seen today.
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“For years, the Osun State Government, under Ogbeni Aregbesola also expended over 1.2billion on the O’Callisthenics programme that had neither economic benefits nor immediate gains for the education sector. In four years, Osun thus spent close to 5billion on a poorly thought-out project that it neither had the finances for, nor could gain anything meaningful from.”
The group also advised the former Governor to stop raising dust whenever he visits the State.
“Relevant political stakeholders must as a matter of urgency, speak to Ogbeni Aregbesola to not only stop talking, but also desist from public displays of arrogance, that not only shows his unapologetic stance about the several crisis that his administration landed the State in, but also goes to show that himself and his co-travellers think that the State must continue in that direction towards total bankruptcy. He should not rub salt in the injuries that he inflicted on the poor masses of our State.
“Ogbeni Aregbesola, with his own mouth, needs to apologize for the several wrong decisions that he took as Governor. He must admit responsibility for the problems we are in today and let the people know, that he is willing to join hands with relevant stakeholders to put the state back on track.
“The present Government must seek all avenue to increase the State’s capacity for revenue generation, as a shock absorber for the heavy deductions that are now rendering the State broke. The Government can look in the areas of tourism and manufacturing.”
Efforts to reach Sola Fasure, the media aide to former Governor Aregbesola for reaction proved abortive as several calls by InsightMedia to his phone went unanswered.
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