Records have shown that the Osun state government, under the supervision of Senator Ademola Adeleke, accessed a N10 billion loan from international financial institutions in 2023 to enhance infrastructure. Despite this revelation, the government has continued to deny any borrowing, raising questions about transparency and accountability in its financial dealings.
The denial by the state officials is anchored on the claim that the loan, even though they accessed it last year and will still in 2024, was not the brainchild of the current government as it was initiated by the government of Ogbeni Rauf Aregbesola.
Whether the loan was initiated by the previous government is irrelevant; what matters is that the current government is utilizing the funds for some of its projects and on completion, it will receive accolades for them.
Why the outright and irresponsible denial? Why is Osun government afraid to disclose that some of its projects are being financed by loans? Is it because it does not want to answer questions on how it has mismanaged and frittered the staggering federal allocation ( N141bn) and IGR (N39.5bn) that accrued to the state in 2023?
This lack of clarity and consistency in the government’s communication is troubling and raises questions about their willingness to disclose the full extent of their borrowing activities.
It is concerning that the government is accessing loans while claiming to be using federal allocation or internally generated revenue (IGR) for its projects. This raises questions about the transparency of the government’s financial management.
It’s essential for the government of Osun to be transparent about its borrowing activities and use of funds. Denying loans while benefiting from them and blaming the previous administration for debt is disingenuous. The government should prioritize honesty and accountability to regain public trust.