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Oshiomhole blames PDP for $75m bank loan

18 August 2015, 15:10

Edo - Edo State Governor, Adams Oshiomhole has blamed the People's Democratic Party (PDP) looting of the national treasury as the reason why the state government is borrowing $75million from the world bank, Premium Times reports.

Oshiomhole, who spoke to journalists on Sunday on the recent approval of the loan by the Senate, alleged that the state lost about $11.6bn from the Nigerian Liquefied Natural Gas, out of which over N30bn was meant for Edo State as its share.

He also said that despite several calls by the PDP, including the state chapter, to prevent the state government from accessing the loan, his administration would not be “distracted by nonentities.”

Also read: Senate approves Edo $75m World Bank loan

The World Bank had approved a $225 million loan for Edo State Government in 2012, to be implemented in three tranches of $75 million per annum.

Oshiomhole dismissed allegations that the state ranked high among states with huge debt profiles, arguing that it was the “least borrowed,” in the South-South, with N25bn as the only major loan taken since he assumed office.

He also restated that the state government had not fallen short of its financial obligation to its workers.

Read more at Premium Times

- News 24


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