Alleged 10bn Loan: Adeleke Debunks Borrowing To Finance State Projects

Following reports alleging Governor Ademola Adeleke of borrowing from foreign bodies to the tune of N10 billion to finance ongoing projects in the state, the Osun State Government has debunked viral reports.

Earlier, insinuations emerged that the governor reportedly secured N10,022,382,348.40 billion in loans from different foreign bodies and organisations in 2023.

Reacting to the report on Monday, Adeleke’s spokesperson, Mallam Olawale Rasheed, countered the report, saying the Governor has not borrowed a kobo since his administration kicked off.

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Describing the report as fake, the governor stated that he has not, at any point since he assumed office, “taken any loan either through a resolution of the State Executive Council or that of the State House of Assembly.”

He explained that the report referred to as loans were World Bank development financing, which, according to him, were inherited from the previous administrations.

The governor insisted that all the projects executed in the state, including the dualisation of roads, the overhead bridges, the school, health centre upgrades, and several road projects, were being funded through special project accounts created by the state government.

“No responsible government will abandon a series of World Bank projects which are already household names across the Federation and which have benefited so many residents.

“We reaffirm again that Governor Adeleke has not borrowed a kobo since assuming office. Inherited liabilities and contracts cannot be tagged on the Governor of the Year on Infrastructure”, the statement added.