Osun Denies N300bn Debt Profile

Osun State government yesterday denied owing N300 billion as alleged by opposition parties, saying the actual debt profile of the Governor Rauf Aregbesola-led administration was N38 billion.

The opposition parties’ candidates, particularly the Peoples Democratic Party (PDP), Senator Iyiola Omisore and Social Democratic Party (SDP), Elder Segun Akinwusi, the immediate past Head of Service in the state put the state debt at between N300bn and N400bn.

Commissioner for Finance, Budget Development and Economic Planning, Wale Bolorunduro, however said the figure represented the loans and bonds taken by the government and the money owed contractors handling various ongoing projects in the state, adding that the situation was not gloomy as the state was ranked among the five least indebted states in the country based on the record of the Debt Management Office (DMO), Abuja.

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