ABEOKUTA - The Comrade Abayomi Arabambi - led Ogun State chapter of Labour party has lauded the recently approved N250bn three-year credit facility of Governor Dapo Abiodun, describing it as a necessary means of reviving the state's fragile economy occasioned by the COVID-19 global pandemic.
This was contained in a recent press statement signed by the party’s Chairman in the state and made available to news men in Abeokuta, a copy of which was obtained by NEWS FLAKES NG.
The party also commended the state assembly for the swift consideration of the loan request in order to effectively tackle the emerging challenges of post- COVID19 period.
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It however berated the immediate past administration in the state led by Senator Ibukun Amosun, especially in the area high indebtedness as well as numerous uncompleted projects left behind for the present Abiodun - led administration.
According to Arabambi,
"Let us at this juncture take a peep at the debt scenario left behind by the Government of Senator Ibikunle Amosun. In spite of the fact that Amosun had access to over #145bn loan apart from the #250bn bailout fund it failed so maximally to complete most of the projects that were the reasons for the loans . All of these unfinished projects are common to all the sectors , including health , education , Agriculture , health , roads/ bridges , power and infrastructures across the length and breadth of the State. This pending and unfinished culture is evident in even human capital development. This one single area of failure of Amosun's Government has for the moment depleted Ogun Federal allocation as claims on this have run into some #2bn with claims on payment running to 95%".
See full press statement below as obtained by NEWS FLAKES NG;
THE APPROVAL OF ACCESS TO A LOW INTEREST #250bn LOAN IN A YEARLY TRANCH OF 100 bn TO GOVERNMENT OF OGUN STATE : OGUN LP POSITION
We in Ogun State LP note the fresh approval granted to the Ogun State Government led by Prince Dapo Abiodun to access #250bn as a 3 - year MEDIUM TERM EXPENDITURE FRAME WORK ( MTEF) with the proviso that it be accessed in a yearly tranche of #100bn for the next 3 years.
In the approval, the Ogun State HOA did mention that apart and besides other needs, the emerging economic challenges brought on by Covid - 19 make it a very necessary exercise.
In all considerations there is no doubt that the loan will in no small measure sustain the State's economy being strongly challenged at the moment by the negative effects of the pandemic as seen in the heavy reduction in the Internally Generated Revenue of the State and the statutory allocation from the Federation's Commonwealth.
It is so much in tandem with the redemption mission of the Dapo Abiodun - led Government to energise , reposition and redirect Ogun State economy .
First , we in Ogun LP recognise the very great advantage in this Loan of reducing the burden of the negative effects of the heavy and intimidating loan transferred from the immediate past Government of Senator Ibikunle Amosun on the PDA Government. This will proffer an escape route for the sitting Government to escape the threat of the past loans to strangulate the economy of the State.
Let us at this juncture take a peep at the debt scenario left behind by the Government of Senator Ibikunle Amosun. In spite of the fact that Amosun had access to over #145bn loan apart from the #250bn bailout fund it failed so maximally to complete most of the projects that were the reasons for the loans . All of these unfinished projects are common to all the sectors , including health , education , Agriculture , health , roads/ bridges , power and infrastructures across the length and breadth of the State. This pending and unfinished culture is evident in even human capital development. This one single area of failure of Amosun's Government has for the moment depleted Ogun Federal allocation as claims on this have run into some #2bn with claims on payment running to 95%.
The state of roads are so deplorable enough for anyone to think that the State has deliberately absolved itself of any responsibility for the maintenance of roads in the State.
All of the above came to happen under the Amosun Government that has access to about #400bn loan far unconnected with the State's IGR and Federal monthly allocations.
Besides the very many official scams as Government policy , the Amosun Government cheated a larger percentage of the victims of demolition of houses and structures for road expansion in all the major towns in Ogun State while he even failed so hugely in completing the roads .
The Government will do well to recognise the areas of pressing priorities like roads , health et al and avoid the dishonesty of trying to attract fake attention by making the mistake of concentrating on only one or two sectors like Amosun did to earn the scorn of the people of Ogun State.
We in Ogun State LP , recommend to the Government of PDA to give greater attention to the current deplorable conditions of both the urban and rural roads , the very sordid infrastructural deficiencies in the hospitals , schools immediately.
In view of the above observation , it is our considered opinion that the PDA Government would do well to critically assess and consider all variables involved in its plans for the use of the Loan to justify its approval with a strong and unwaivering resolve to discourage and resist the interference by waste in any degree.
This attitude has been seen being served on friendly and helpful bodies including the Ogun State Chapter of the IPAC which are convinced that the success of a ruling Government is to the benefit of the citizens of the State.
The Government will do well to also accord suggestions from the opposition parties much more respect . It doesn't detract anything from the Government to acknowledge such opposition parties' suggestions rather than the current attitude being depicted by many high ranking Government officials.
Lastly and much more importantly , we in Labour Party strongly advise that this huge loan that is annual should be strictly expended on capital projects that will generate returns in various ways including improved IGR and other income , from which the wherewithal of paying salaries will be assured including the gradual redemption of the loan as and when due.
It is to be understood that , the proceeds from the investment in the capital projects that will put the economy on the forward match to grow income for the Government will be employed and channels towards the payment salaries , clear backlog of over 8years pensions and gratuity to retired senior citizens,renovates our public schools , construction and completion of all the roads , MTR Hospital at Oke- imosan and the criminally wasted N55billion constructed 22 model schools earlier awarded to fraudulent and faceless Contractors by the immediate past APC Administration of Sen Ibikunle Amosun
Finally it is our very determined resolve to continue to put it to the Government and in the public space that all the contractors who were paid by the immediate past Government of Senator Ibikunle Amosun should be made to adequately account for such money in relation to the amount of job delivered.
LP is not going to sit idle , we are going to ensure that such defaulting contractors are fully and effectively engaged through our continued and relentless exposure of the practices of corrupt activities bordering on criminality in relation to the faulty execution of the contracts under discussion.
We in Ogun LP are quite prepared to get the E FCC involved if the need arises.
Our assurances that those fraudulent contractors who conspire in the looting conspiracy shall soon be the guest of EFCC as Labour Party shall swing into action once the Covid-19 pandemic subsided
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