Adeleke obtained foreign loans amounting to N10 billion in 2023 – Report
By Yusuf Sikiru, Osogbo
Contrary to the claims by Osun state governor, Ademola Adeleke that the state under his leadership has never borrowed a kobo, the state reportedly secured the sum of N10,022,382,348.40 billion loans from foreign bodies and organizations in 2023 for projects across the state.
The report obtained by Honourable FM from the Osun government’s website revealed that the state had a 99% performance rate on loans received from foreign entities in the 2023 budget cycle, according to a report obtained by The Nation.
The state Ministry of Economic Planning, Budget and Development has prepared a document called the “2023 Citizens Budget,” also known as the “Budget of Consolidation.” This document has been uploaded to the state government’s website, and it outlines how the government plans to obtain loans from foreign entities for various projects.
In the 2023 Citizens Budget, the Osun State government was projected to receive N10.71 billion which bulk of which will come from the World Bank while others will come from the Islamic Development Bank.
For Ilesa Water project, N1.08b loan was projected to be received, N0.54b for establishment of Osun Investment Promotion Local Business Offices across 9 Federal Constituencies, N2.72b for O-Cares For Agricultural Support Services, N0.55bn loan from World Bank On Saber For Development Of PPP and Institutional Framework In the State, N0.55bn from World Bank On Saber For Establishment Of Osun Investment Promotion One-Stop-Shop.
Also, N0.10bn from World Bank On O-Cares Projects For Coordination OfState Cares (O-Cares) Activities, N3.48b from World Bank On Rural Access And AgriculturalMarketing Project (Raamp 3) for Rural Development Projects, N1.51bn from World Bank For Community And Social Development Project On O-Cares, N0.13bn from World Bank For Labour Intensive Public Workfare On O-Cares and N0.13bn from World Bank For Social Support Programme (Cash Transfer To Indigent Elderly On Osun Covid-19 Action Recovery And EconomicStimulus) – (O-Cares).
The loan expected in 2023 totalled N10.71bn.
However, the state government, according to 2023 Budget Performance from Quarter 1 to 4 accessed N10,022,382,348.40.
The performance level revealed that Osun State recorded 99.9 per cent of loans received in 2023.
Meanwhile, Governor Ademola Adeleke during ‘Ipade Imole’ held in Ilesa noted: “In all our governance activities so far, let it be known that we have never borrowed a kobo. This is in line with our pledge to govern.
He added: “Within our available resources as we manage the huge liabilities we inherited from the previous government. If anybody tells you this administration has borrowed money, tell the person he is a liar