On Saturday, The Osun Mastermind and Dr Wale Bolorunduro, a former finance commissioner during ex-governor Rauf Aregbesola’s first term in office, exchanged words over the group’s demand that Governor Adegboyega Oyetola publish the state’s debt profile.
The TOM, through its Executive Director, Dr Wasiu Oyedokun-Alli, demanded an investigation into Aregbesola’s administration and requested that Oyetola publish the state’s debt profile.
Responding to the group’s demand, Bolorunduro accused Oyetola of masterminding the group in order to embarrass his predecessor, saying that in September 2018, Aregbesola declared the state’s debt profile, which he put at N170.6bn, made up of N141.1bn domestic debt and N29.5bn multilateral debt.
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“The same figure was mentioned by Oyetola during the 2018 governorship debate, and he went on to say that the debt was sustainable,” he explained.
“So, what exactly is going on? Why are the new jejune group’s tears greater than those of the bereaved? “Why are they lying, and why can’t they hold Oyetola accountable for his words?”
“I have no objection to him disclosing the current level of debt, but he should also disclose the opening balances of the debt components as of November 27, 2018, when he became governor.”
“All we knew was that the debt portfolio components handed over to Oyetola were all developmental long-term finance with a weighted average interest rate of 11.74 percent.
“None of the debts were bank loans or contract finance, which typically have interest rates in excess of 20%. So, Oyetola, please tell us when the debt became unsustainable.”
In response to Bolorunduro, the group said in another statement by Oyedokun-Alli that the ex-commissioner was incorrectly giving political identity to its demand, and that because borrowings during Aregbesola’s administration were done with the finance commissioner’s knowledge, he should shed light on how the debt portfolio was arrived at.
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