Home » N36Billion Monthly Deduction: Aregbesola has bastardized Osun Economy with unjustifiable loans

N36Billion Monthly Deduction: Aregbesola has bastardized Osun Economy with unjustifiable loans


……says, report vindicates Justice Oloyede

The Civil Societies Coalition for Emancipation of Osun
State (CSCEOS) has expressed worry over the increase in the deduction
of monthly allocation accrued to the State by the Federal Ministry of
Finance under the watch of President Muhammadu Buhari as a result of
different unjustified loans incurred by the State governor, Mr. Rauf
Aregbesola, alleging that about seventy-five percent  (75%) of the
loans were siphoned by Aregbesola and his cronies by carting it away
to Lagos State.

It would be recalled that an Intelligent News Medium popularly called
“Economic Confidential Magazine” has reported recently that Osun state
under Aregbesola’s watch were leading State which Federal Government
deducted a total sum of N36billion from their allocations in the month
of April, 2016 and the State were worse hit by this development and
ranks number one, as its allocation for the month of April 2016
totaling N2.030 billion was wiped away.

It also disclosed that Osun state had nothing to take home for the
month of April and other months in 2016 because sum of N2.391 billion
were deducted leaving a deficit of N361 million to be paid in the
subsequent month by the state, and this represents a whopping 117.8
percent of the total allocation due the state from the federation

Reacting to this development, in a statement issued on Monday by the
CSCEOS’ Chairman, Comrade Adeniyi, Alimi Sulaiman declared that
Aregbesola has bastardized the economy system of the State beyond
redemption ,for the next twenty (20) years by collecting different
loans from local and international financial institutions  beyond the
capacity of the State under the guise of putting one infrastructure or
the other in place, noting the  loans that put the State into debtor
State were not justified the all acclaimed projects of Aregbesola’s
government in almost six years in the saddle.aregbesola-rauf_jpg1_-640x431

Comrade Sulaiman, however, stated that the report has vindicated the
persecuted courageous and incorruptible Judge of the State High Court,
Justice Olamide Folahanmi Oloyede in her 39 page Petition to the
rubberstamp State of House of Assembly that Mr. Aregbesola has
destroyed the State economy with “OMO EKO STYLE”, insisting that the
loans being collected on behalf of the State by Aregbesola was over
N500billion which the State may not be able to redeem in the next
twenty-five(25) years, after Aregbesola would have  left office in

The group then urged Aregbesola to take the courage to tell the whole
world the total figure of the loan being collected on behalf of the
State with the financial institutions  that gave the loan, adding that
Aregbesola has put the State in economy quagmire since 2013 which made
the prosperous State not to perform its social obligations to her
citizens again.

About Author

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *