The Kwara State chapter of the Peoples Democratic Party, PDP, has warned Governor Abdulrahman Abdulrazaq against mortgaging the future of the state by incurring additional loans running into billions of naira.
The warning is on the heels of the state government’s decision to access another Federal government’s bridging finance facility worth over N18b at an interest rate of nine percent.
According to the party in a statement in Ilorin, the state Publicity Secretary, Tunde Ashaolu, “this is coming less than two months after the government obtained a N35bn loan, which it claimed would be spent on some phantom projects.
“The state will also anytime soon, receive another N2.6b loan from the Federal government under its livestock transformation programme,” it claimed.
The APC lamented what it described as the governor’s penchant for borrowing, explaining that it was not suitable and portends great danger for Kwara’s economy and development.
It said the state will be incurring over N50b loans within a space of five months if, the governor eventually obtains the proposed N18.7b loan facility from the Federal government.
Reacting, the Kwara State All Progressives Congress, APC, said the borrowings are meant to finance development projects to bridge the infrastructural gaps met in the state.
A statement by the state Publicity Secretary of the party, Tajudeen Aro, in Ilorin said the action of the governor, was informed by the misrule of the previous PDP government, which created a wide gap in infrastructural development in the state generally.
” Kwara State was somehow grounded at the inception of Governor Abdulrahman Abdulrazaq’s administration, largely due to the misrule of the PDP’s government.
” For a strong reversal to be evident, the state will need to borrow to finance development to uplift the standard of Kwarans.
“At the dawn of the administration of governor Abdulrazaq, May 29, 2019, the state was somehow grounded, call it abyss, largely to misrule,” it argued.
The APC advised the opposition party to be responsible in its role and stop the sheer overzealousness of wanting to be heard at all cost as Kwarans know better.
Kwara PDP cautions Gov Abdulrazaq over excessive borrowing, APC reacts
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