Edo State Governor, Adams Oshiomhole, has said that his government was
forced to take a $75 million development loan from the World Bank, because
the Federal Government led by the Peoples Democratic Party (PDP) in 16
years had looted the nation’s treasury and pauperized the states.
He said it was a good thing that President Muhammadu Buhari came at the
right time to stop the liquidation of the country.
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.
The first tranche of the loan was approved by the National Assembly in the
2012-2014 Federal Government External Rolling Borrowing Plan, while the
second tranche was approved by the National Assembly, last week.
Addressing reporters at the Government House on Sunday, Mr. Oshiomhole
said “If the PDP did not steal the money, we would not need to borrow.
What we lost from the NLNG under the PDP Federal Government was about
$11.6 billion. Edo State’s share of that money was more than N30 billion.
If you realise that from every one billion dollars, we get more than N2.7
billion. So if PDP did not steal and bleed the economy dry, our legitimate
revenue stolen by the past PDP government and its men is more than that.
“PDP is simply not in a position to blame the victims of their own looting
which is unprecedented in the history of the country. My hope is that they
would be brought to justice.
“You heard President Buhari saying last week that after they finished
looting the treasury, they even borrowed to loot. You heard the president
say that they took a loan from China and they already had taken $600
million from the loan. By now if they were still there, there would have
finished the rest.
“In the South-South zone, look at the debt profile, Edo is the least
borrowed. The only major loan we have taken since I assumed office was a
N25 billion bond out of which we have paid over N20 billion because we are
paying N530 million every month.
“As we speak, we have only about N5 billion left of that loan which will
be liquidated before the end of this tenure. You heard of bailout, find
out what PDP states are borrowing under the bailout plan, not for
development but to pay salaries. But Edo State Government is up-to-date
with salaries without bail out. You need to interrogate facts and not
report these people as if they are responsible people because when you do
that, people don’t know the difference between mischief makers and
responsible people.
“PDP should simply shut up because they destroyed everything. Carry out
your own investigations. You read in the papers how much our neighboring
states are borrowing? You heard of N20billion, N30 billion under two
months. To do what, to settle the invisibles. You hear them talking about
N14.5 billion. We are not borrowing to pay salaries, we are able to do
that in spite of the massive looting by the PDP. I appeal to the media
because you are victims and you must interrogate these thieves when they
break the highway rules and want to divert you. When you ask questions,
they say you want to witch-hunt. Why won’t you witch-hunt when the witches
are killing people in the village.
“For me, the only regret I have is that somehow, these rogues can
seemingly eat their cake and yours and go out to complain that the cake is
missing when it is in their stomach. I also need you to consult the World
Bank to look at the statement they issued that Edo is the second state,
Lagos being the first; that these two states have shown sufficient
reforms, transparency, accountability in Internally Generated Revenue and
reforming the public policy to ensure value for money.
“They are providing these facilities as a measure for encouraging other
states to take a cue from what Lagos and Edo are doing. If this is the
basis of support and you are listening to a bunch of armed robbers of what
they think about decent society, they would rather borrow at 20% and they
are envious that we are attracting a facility more or less at zero cost of
1% spread out over 20 years. If you read the report of the Senate, it says
about 17 states and these are PDP states have applied for this facility
but because of their public image, the World Bank is not willing to loan
to them.
“I read in one of the papers that about $2.2 million donated by an NGO to
support the election was stolen and they were compelled to return it but
the former Minister Finance said it was witchhunting because they have
refunded the money but it was misapplied.
“You hear PDP say nothing has happened in Edo State. Even the Hospital we
are building, the Benin City Water Storm project, just one project is more
than the entire loan we have taken. So as we speak, Edo is the least
borrowed. Every state now is borrowing money for salaries. You are not
just to parrot the views of armed robbers. When you report, you say
however, it will be recalled that, that way, the reader understands who is
saying the truth,” Mr. Oshiomhole said.