Edo State Governor, Adams Oshiomhole, says his administration was compelled to take a N14.7billion ($75million) loan from the World Bank because the Federal Government led by the Peoples Democratic Party, PDP in the past 16 years emptied the treasury and made the states very poor.
Three years ago, the World Bank approved a $225 million loan for the state government to be disbursed in three tranches of $75million.
The first tranche was approved by the National Assembly in the 2012-2014 Federal Government External Rolling Borrowing Plan while the second tranche was approved by the National Assembly last week on the request of President Muhammadu Buhari.
According to Premium Times, an online news medium, Oshiomhole told journalists at the Government House on Sunday that, “If the PDP did not steal the money, we would not need to borrow. What we lost from the NLNG under the PDP Federal Government was about $11.6billion. Edo State’s share of that money was more than N30billion. If you realise that from every one billion dollars, we get more than N2.7 billion. So if PDP did not steal and bleed the economy dry, our legitimate revenue stolen by the past PDP government and its men is more than that.
“PDP is simply not in a position to blame the victims of their own looting which is unprecedented in the history of the country. My hope is that they would be brought to justice.
“You heard President Buhari saying last week that after they finished looting the treasury, they even borrowed to loot. You heard the president say that they took a loan from China and they already had taken $600million from the loan. By now if they were still there, there would have finished the rest.
“In the South-South zone, look at the debt profile, Edo is the least borrowed. The only major loan we have taken since I assumed office was a N25billion bond out of which we have paid over N20billion because we are paying N530million every month.
“As we speak, we have only about N5billion left of that loan which will be liquidated before the end of this tenure. You heard of bailout, find out what PDP states are borrowing under the bailout plan, not for development but to pay salaries. But Edo State Government is up-to-date with salaries without bail out. You need to interrogate facts and not report these people as if they are responsible people because when you do that, people don’t know the difference between mischief makers and responsible people.
“PDP should simply shut up because they destroyed everything. Carry out your own investigations. You read in the papers how much our neighbouring states are borrowing? You heard of N20billion, N30 billion under two months. To do what, to settle the invisibles. You hear them talking about N14.5 billion. We are not borrowing to pay salaries, we are able to do that in spite of the massive looting by the PDP. I appeal to the media because you are victims and you must interrogate these thieves when they break the highway rules and want to divert you. When you ask questions, they say you want to witch-hunt. Why won’t you witch-hunt when the witches are killing people in the village.
“For me, the only regret I have is that somehow, these rogues can seemingly eat their cake and yours and go out to complain that the cake is missing when it is in their stomach. I also need you to consult the World Bank to look at the statement they issued that Edo is the second state, Lagos being the first; that these two states have shown sufficient reforms, transparency, accountability in Internally Generated Revenue, IGR and reforming the public policy to ensure value for money.

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