Incumbent Governor Godwin Obaseki of Edo State at the Governorship debate on Sunday organized by Channels Television, disclosed that the former governor of the state, Adams Oshiomhole, piled up huge debt for the state, saying the former governor was “borrowing recklessly.” He added that Oshiomhole also owed contractors N70 billion.
Obaseki had highlighted: “Let me make some points very clear. What happened is that my predecessor in office borrowed recklessly and the Federal Government had to restructure all the debts that we have taken before I came into office.
“These included a whole series of bank borrowings, borrowing to pay salaries. So, the Federal Government restructured outstanding obligations to Edo State, to the tune of almost N30 billion. That was what was responsible for adding to the debt stock, not borrowings from this administration.”
The incumbent governor further disclosed that former Governor Oshiomhole was owing contractors about N70 billion, adding this increased the debt owed by the state to over N120 billion.
Obaseki, however, said his administration was able to minimize the impact of the debt burden, properly servicing the debt in addition to delivering development to the people.
Obaseki remarked: “It is not the quantum of debts; it is what you use the debts to procure.
“So, as long as you are able to invest your borrowings productively and ensure growth in the economy, then, you have enough income to pay back those debts on a sustainable basis.”
The incumbent governor commended Edo people for trusting his leadership, adding that the force standing on the path of growth have been bulldozed in the state. He promised to open up Edo State to endless possibilities if re-elected to serve the state again.
However, Pastor Osagie Ize-Iyamu, candidate of the All Progressives Congress (APC), chided Obaseki for laying the burden of the state’s debt on Oshiomhole. He alleged that Governor Obaseki spent over N75 billion on projects that were wasted. He considered it unfair for Obaseki to exonerate himself in blaming a government he played a role in on the debt profile of the state.
Ize-Iyamu declared: “It is scandalous that the incumbent governor is attributing the huge debt owed by Edo State, to a predecessor in whose government Obaseki served as a chief economic adviser.
“Sometimes you seem to forget the role you played in the past government.”