People Politics

Amosun Administration Incurred N58bn Debt – Ogun Govt

It has been reported that the Ogun State Government has discovered an alleged hidden additional N50bn domestic debt left behind by the immediate-past administration of Senator Ibikunle Amosun.

According to the State Governor Prince Dr Dapo Abiodun  the figures given to it by Amosun’s administration did not capture the entire liabilities it left behind when the former Governor left office in 2019.

This was revealed in a statement signed by Kunle Somorin, chief press secretary to the governor.

He made it known that the administration claimed that not less than N50bn in financial liabilities were not accounted for in the financial report handed over to him in May 2019.

It was also reported that the Debt Management Office, (DMO) stated that the Dapo Abiodun led administration incurred N58bn domestic debt within the period of his administration.

Reacting to this, Abiodun said the recent report by the DMO showed that the omitted figures by the immediate past administration in the state on the domestic debt had an impact on the DMO report.

According to the statement released, “We only got to know about this amount in the course of carrying out due diligence on Ogun State finances shortly after we took over”. “As a transparent government committed to being accountable, we had to disclose this for the first time to give a true picture of the state’s indebtedness”.

The statement added that, “Governor Dapo Abiodun has started paying the retirees and pensioners affected, with the first tranche of N500m paid to them last month”. “Every quarter, the governor has promised to pay them at least N500m until everyone is paid”.

It read further that, “The increase in the 2020 total debt of the state was due to an undisclosed gratuity and staff liabilities of about N50bn not recognised in the state financial statements in May 2019 at the end of the previous administration”.

The statement also stated that, “In order to show the complete picture of all state liabilities, the current administration booked the gratuities and staff liabilities in the financial statements of the state hence the increase”.

“Residents and citizens of the state can attest to how Gov Abiodun is completing all the abandoned projects of his predecessor and commencing signature projects and roads”.

It was revealed that, “The governor has concentrated on his ‘Building Our Future Together’ with special attention to infrastructure, health, education and agriculture.

Also, the welfare and security of the people which are the primary functions of government are equally on the front-burner”.

However, Amosun has not responded to the allegations following text messages sent to him.

About the author

Esther Ifeoluwa

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