NewsOgun: Worries Over $250m Loan

Ogun: Worries Over $250m Loan

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A $250m loan approved by the Federal government for Ogun state is causing ripples between Governor Dapo Abiodun and his predecessor, Ibikunle Amosun.
On Wednesday, the President Muhammadu Buhari administration approved the loan during the federal executive council meeting.
But rather than worry about the rising debt of the state, the two leaders are busy trading tackles on how the loan was facilitated.
The duel is the latest in the desperate quest by the two leaders over the control of the soul of the state.
Governor Abiodun and Amosun are members of the ruling party, the All Progressives Congress, APC.

Amosun in a statement by former Secretary to the State Government, Taiwo Adeoluwa, his administration worked hard for six years to make sure the loan was approved.

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According to the statement, “Like in several other areas, the Amosun administration worked hard, laid enduring foundation and bequeathed rich legacies to the cause of greater Ogun State.

“Now, at the last World Bank meeting, the hard labour and painstaking efforts of the Senator Amosun-led administration came to fruition with the provision of $250m grant for Ogun State.

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“Recall that in 2019, before the end of Senator Amosun’s administration, we had processed the approval of both the Senate and the House of Representatives; we also had secured the nod of the Federal Executive Council.

“We did all the paperwork. We are immensely proud that once again, we bequeathed a handsome and significant $250m in virtually interest-free grant to Ogun State.”

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Meanwhile, Governor Abiodun has countered the claim that his predecessor facilitated the loan.

Abiodun in a statement by the Special Adviser on Public Communications, Remmy Hazzan, said the facility was a result of various interactions on the economic blueprint and development roadmap for the state which he had with the officials of World Bank.

He said, “Recall that the project facility suffered a major setback and in fact was reduced from the original amount of $350m because of the slow utilisation of the initial preparatory allowance of $5m and the poor implementation of the preparatory phases of the project facility by the previous administration.”

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