Amid DMO Revealed Large-scale Debt Incurred by Oshiomhole Administration, Edo Says PDP Govt Diverted N4Bn Bank Loan

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Smarting from the revelation by the Debt Management Office (DMO) that his administration is the 3rd most indebted in the country, Edo State Governor, Comrade Adams Oshiomhole, has accused the former Governor of Edo State, Mr Lucky Igbinedion of diverting N4 billion bank loan in connivance with then Secretary to the State Government and PDP gubernatorial candidate, Mr Osagie Ize-Iyamu.

But the PDP had, relying on the the DMO publication on Edo government’s foreign debt profile under the watch of Oshiomhole, said: ’the debt management office, Abuja has just stated that Edo State, with a total of $179.52 million as at June 30 this year, holds 4.91 per cent of the nation’s subnational foreign debts. And we know this is outside over N800 billion debt that Oshiomhole has created for Edo State”,

However, in a statement issued by his Chief Press Secretary, Mr Peter Okhiria, the Governor Oshiomhole said: “our attention has been drawn to the lies peddled by one Pastor Osagie Ize-Iyamu, a factional candidate of the Peoples Democratic Party (PDP) on the debt profile Edo State.

“We make bold to state, and the facts are clear, that in spite of earning the highest revenues from the Federation Account, the PDP states in the South-South region are the most indebted in the region and not Edo State.

“The domestic debt profile released by the DMO as at December 31, 2015, the last time it was issued, lists Delta State as having a debt profile of N320,605 billion; Akwa Ibom had N147,575 billion; Cross River: N115,522 billion; Rivers, N134,9566 billion; Bayelsa N103,374 billion as against Edo which had N46,289 billion. While the other South-South PDP States have continued to amass domestic debts with high-interest rates, Edo is close to completely liquidating its domestic debt.

“While Ize-Iyamu continues to peddle his falsehood, we have the record of the N4 billion borrowed by the PDP government of Mr Lucky Igbinedion, with the knowledge of Osagie Ize-Iyamu as Secretary to State Government from Guaranty Trust Bank and Equitorial Trust Bank and paid to an address in Lagos.

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