Oyetola: Despite not borrowing, I left N14 billion in the State Coffers
Gboyega Oyetola, the former governor of Osun, says he is leaving N14 billion in the state’s coffers despite not taking a loan during his tenure.
On July 16, Ademola Adeleke of the Peoples Democratic Party (PDP) defeated Oyetola of the All Progressives Congress (APC). The PDP had 403, 371 votes, while APC gathered 375,027 votes.
In Oyetola’s farewell message on Sunday, issued by Ismaila Omipidan, his spokesperson, he said his administration paid “N97 billion from the total debt” inherited in 2018 when he assumed office.
He further said his administration did not borrow any money to finance the state’s economy, adding that he is leaving behind cash of over N14 billion.
“We are leaving behind a cash balance of more than N14 billion. In addition to the N14 billion cash, another N8 billion is expected between December and January 2023 from our performance in States Fiscal Transparency, Accountability and Sustainability programme (SFTAS) and from Internally Generated Revenue (IGR),” he said.
“For four years, we did not take any bank loan. We benefitted from the N3 billion monthly interventions by the federal government to all the states for six months to cushion the effect of deductions from the budget support facility, and salary bailouts taken by the previous administration.”
The former governor said his administration put the state’s economy on a firm footing, through its people-centred and masses-focused projects.
“As I step aside today following the conclusion of the four-year tenure you freely gave me, I thank God and I thank the people of Osun for your support, cooperation and prayers over the years,” he said.
“I recall how the journey began four years ago; how by your belief in me and your conviction in the plans and programmes of our party, the All Peoples Congress (APC), you exercised your right to vote for me.
“As we draw the curtains on this first tenure, we are convinced that we neither reneged on our promise nor disappointed you. We kept faith with you and maintained fidelity with our electoral promises,’’ Oyetola stated.
Despite the swearing-in of Adeleke as the governor of the state on Sunday, Oyetola is challenging the electoral victory of the former senator at the tribunal.