Amosun puts Ogun State’s total debt at N103 billion

Ogun owing workers over N8bn in arrears of unremitted deductions

Governor Ibikunle Amosun of Ogun State has put the debt profile of the state at N103 billion.

The debt includes external debt of N40 billion, and local debt of N73 billion.

Amosun gave the figure, while addressing teachers in the state, during activities marking the 2017 World Teachers’ Day, held at the Arcade ground, Oke-Mosan, Abeokuta.

The governor said his administration inherited debt, totalling N49.8 billion from the Gbenga Daniel administration.

Amosun explained that, the debt that his administration incurred is less than N30 billion.

He said, “Clearly, the State’s debt is N103 billion, including foreign and local. Even I didn’t take the foreign loan which is about 40 billion, our forebears did.”
 
“If those ones are grants with 0.5 percent interest, they are just like ‘dash’, when people are shouting that we are taking loans, World Bank is not stupid, what they probably have is $1 billion and they are giving Ogun State alone 35 per cent of that, $350 million dollars at one percent or 1.5 percent.
 
“We are taking that money (loan) because of the love we have for Ogun State, if not, I would have stopped the loan because of these talks (speculations). At best, we will be given 10 percent next year because World Bank has procedures.
 
“Officially, Ogun State is owing little over N70 billion, the one that is local that can be ascribed to this administration. How can anybody that is rational will see a loan of 1 percent interest and will not take it?”

He also spoke on the 350 million dollars grant being sought from the World Bank, saying “If those ones are grants with 0.5%, they are just like ‘dash’, when people are shouting that we are taking loans, World Bank is not stupid, what they probably have is $1billion and they are giving Ogun State alone 35% of that, $350m dollars at 1% or 1.5%.

“That money is because of love we have for Ogun State, if not, I would have stopped the loan because of these talks, but this is the time, I will not be the administration that will collect this money, at best, we will be given 10% next years because world bank has procedures.”

Meanwhile, teachers in the state public secondary schools, have asked the state government to urgently recruit more teachers, to reduce their workload.

The state’s chairman of the Academic Staff Union of Secondary Schools (ASUSS), Akeem Lasisi, and his Nigerian Union of Teachers (NUT) counterpart, Titilope Adebanjo, made the call in Abeokuta.

According to Lasisi, a class teacher in the state public secondary school now teaches for between 22 to 30 periods per week, due to inadequate number of public school teachers.

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