Osun State Governor Ademola Adeleke and his predecessor, Adegboyega Oyetola, have renewed their bickering over N407.32 billion debt profile of the state.

Adeleke alleged that N18 billion loan was obtained after the July 16 governorship election.

The governor, who yesterday attended the meeting of Osun State Traditional Rulers held at Finance Building, Government Secretariat, Abere, presented the debt profile before the monarchs.

He called for probe of the past administration

Adeleke said: “My administration inherited eight outstanding loan facilities, apart from salary and pension debts, from the Oyetola administration. My good people of Osun State, the total loan stock as at today is N331.32 billion.

“If the N76 billion debts on salaries and pension are added, the state is indebted to the tune of N407.32 billion. The amount owed contractors is yet to be determined. The only fund in government coffers, as at November 29, was for November 2022 salary. Otherwise, the state treasury was empty.

He added: “Former Governor Oyetola must explain how the N331billion borrowed in the name of Osun State was expended, with no obvious infrastructural development to justify this huge debt.

“He must explain how the N18billion bridge loan taken after he lost the election on July 16 was expended.

Oyetola must also explain why Osun State owes salaries and pension to the tune of N76 billion after collecting a N50billion salary bailout loan from the Federal Government.

“The creditors, especially the commercial banks, must explain why loans were given to an administration beyond its four-year tenure. Twenty-eight years is equivalent to the tenure of at least four governors. A child born today would have earned a PhD at the age of 28. This is nothing but mortgaging the future of Osun State with nothing to show for it. This is definitely not acceptable.”

Oyetola, however, declared that ex-governor Rauf Aregbesola incurred the debt of N407.32billion during his administration.

He said his government never took any loan during the four-year tenure.

Oyetola, through his media aide, Ismail Omipidan, in a statement last night described the allegation by Governor Adeleke that Oyetola took N18billion loan facility as false, adding that it was made out of sheer ignorance and mischief.

Oyetola challenged Adeleke to publish details of the outstanding loan facilities he claimed his administration inherited and the years they were procured.