The audited financial statement of the state has burst their bubble regarding the claim on loan: the document in page 60 reveals that the domestic debt of the state increased to N55.3billion in 2023 from N46.8billion the current administration met it in 2022.
A further study of the document indicates that a new Finance Lease loan of N4.2billion was obtained by the government in 2023. Just as the existing domestic debt of N705.6million for the Ministry of Agriculture and Food Security went up to N2.9billion.
A N280.8million debt previously written against the Ministry of Rural Development and Community Affairs also rose to N1.4billion in 2023, in addition to the debt of the Ministry of Youths and Sports which leaped to N1.02billion from N161.7million. The summation of the additional loans to the above three ministries in 2023 was N3.92billion.
The state also incurred a fresh loan of N10million against the name of University of Ilesa.