Osun State Governor Ademola Adeleke and the All Progressives Congress (APC) have exchanged heated accusations over claims of mounting state debt.
At a press conference in Osogbo, APC’s Director of Media and Information, Kola Olabisi, accused Adeleke’s administration of plunging the state into financial turmoil by obtaining loans totaling ₦81.6 billion. According to Olabisi, the loans include $51 million in foreign borrowing, equivalent to ₦81.6 billion at an exchange rate of ₦1,600 to $1.
Olabisi cited records from the Federal Ministry of Finance, alleging that Osun accessed $20 million under the NG-CARES programme, equivalent to ₦32 billion, and signed up for a second phase of the initiative worth an additional $35 million (₦56 billion). He claimed the loans were tied to the state’s 2024 budget, accusing the administration of dishonesty.
The impression that the administration has not obtained any loans is a lie from the pit of hell, Olabisi asserted, adding that the disbursement of the second phase is imminent.
In response, Governor Adeleke’s spokesperson, Olawale Rasheed, dismissed the allegations as fake news, accusing the APC of spreading misinformation.
Osun people are educated and know when a government seeks a loan. I can confirm as a member of the executive council from the beginning, there has been no approval or discussion of any loan by this administration, Rasheed stated.
He further clarified that the NG-CARES programme is a federal initiative inherited from previous administrations, including former governors Rauf Aregbesola and Gboyega Oyetola.
The spat highlights deep political tensions in Osun as both parties trade accusations over fiscal responsibility and governance.
