Debt Profile: ‘Data by DMO Validates Osun’s Success on Debt Mgt’

Yinka Kolawole in Osogbo

The spokesperson to Osun State Governor, Ademola Adeleke, Mallam Olawale Rasheed, has said that the data released by Debt Management Office has vindicated the Adeleke-led administration on the debt profile of the state.

He added that as against the falsehood published by certain online news platforms and amplified by the All Progressives Congress (APC), the State External Debt, according to the DMO, has reduced by 15% while domestic debt reduced by 42%.

Stating this in a statement issued yesterday, Rasheed said that the domestic debt of Osun State was N148.37 billion as at December 2022 but reduced to N86.06 billion as at June 2024 while Foreign Debt as at December 2022 was $91.78 million but reduced to $78.17 million as at June 2024.

He said: “The truth remains that Osun State debt profile has actually reduced under the leadership of Governor Ademola Adeleke in the last two years. Data doesn’t lie and cannot be hidden.

“The state domestic debt was ₦148.37 billion as at December 2022 but it has now reduced to ₦86.06 billion as at June 2024. In the same manner, foreign debt as at December 2022 it was $91.78 million but it has now reduced to $78.17 million as at June 2024.

“What that means is that the domestic debt of Osun State reduced by 42% and also the external debt reduced by 15% within two years of our administration.

“What this also mean in terms of figures is that Governor Adeleke has paid back N62.31billion as domestic debt and paid off $13.61million in foreign debt. This is the burden the APC-led past administration imposed on the people of the state. If this administration didn’t inherit those debt, these said amounts would have been better used for the good people of Osun State.

“The online medium failed to do due diligence and published APC’s fabricated fake news. The figures published by the DMO have now exposed the falsehood and fake news.

“The fact remains that Governor Adeleke has not taken any loan. There is transparency and accountability in this government. We are concerned about the welfare of the people and we will keep doing that.”