Ibikunle Amosun Govt’s N50 Billion Debt Exposed In Ogun State
The Ogun State Government has discovered a huge N50 billion debt concealed by Senator Ibikunle Amosun’s previous administration.
Governor Dapo Abiodun claimed that the statistics given by Amosun’s administration did not account for all of the liabilities the former governor left behind when he left office in 2019.
The administration alleged in a statement signed by Kunle Somorin, the governor’s chief press secretary, that not less than N50 billion in financial liabilities were not accounted for in the financial report handed over to him in May 2019.
The governor’s statement was in response to a report from the Debt Management Office, which reported that the government accumulated N58 billion in domestic debt during his tenure.
According to the DMO report, the Dapo Abiodun-led administration borrowed N58 billion in domestic debt in just 18 months.
The DMO report, which was released on March 15, reported that the Ogun State Government had acquired a total of N58,316,493,347 local debts between June 30, 2019 and December 30, 2020.
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According to the government, the DMO’s latest report revealed that the omitted figures on the domestic debt by the state’s immediate past administration had an effect on the DMO report.
The statement reads partly, “We only got to know about this amount in the course of our carrying out due diligence on Ogun State finances shortly after we took over.
“As a transparent government committed to being accountable, we had to disclose this for the first time to give a true picture of the state’s indebtedness.
“Governor Dapo Abiodun has started paying the retirees and pensioners affected, with the first tranche of N500m paid to them last month. Every quarter, the governor has promised to pay them at least N500m until everyone is paid.
“The increase in the 2020 total debt of the state was due to an undisclosed gratuity and staff liabilities of about N50bn not recognised in the state financial statements in May 2019 at the end of the previous administration.
“In order to show the complete picture of all state liabilities, the current administration booked the gratuities and staff liabilities in the financial statements of the state hence the increase.
“Residents and citizens of the state can attest to how Gov Abiodun is completing all the abandoned projects of his predecessor and commencing signature projects and roads.
“The governor has concentrated on his ‘Building Our Future Together’ with special attention to infrastructure, health, education and agriculture.
“Also, the welfare and security of the people which are the primary functions of government are equally on the front-burner.”
Attempts to get reaction from Amosun failed as the former governor had not responded to the text message sent to his mobile phone.
