Former PDP gubernatorial candidate, Iyiola Omisore, has revealed that Osun State has a debt profile of Osun State N480 billion.
Former PDP gubernatorial candidate, Iyiola Omisore, on Monday, June 15, stated that the debt profile of Osun State stood at N480 billion.
To this end, he stressed that only drastic reduction in the government overhead cost could save the state from the present predicament.
The former Senate Committee Chairman on Appropriation stated this while speaking during an interview at Crown FM in Ile-Ife .
But in his response, the state Governor, Rauf Aregbesola, said Omisore has merely demonstrated further “the mischief and ignorance he is known for with the fraudulent N480 billion loan figure he alleged during the interview he granted his radio station, Crown FM.”
The governor said: “Every knowledgeable person in the state and beyond has the figures of the state borrowings by virtue of the open nature of the Aregbesola’s administration.
“Osun could not have borrowed in secrecy as the two bonds in the capital market and the Sukuk Bond were taken in celebrated manners.
“While we took N14.4billion Sukuk bond with two tranches, the state government also approached the capital market for a N30 billion loan."