Oyetola took N18billion loan after losing election, Osun is owing N407billion — Gov. Ademola Adeleke

The governor of Osun State, Ademola Adeleke, has said his predecessor, Gboyega Oyetola, took an N18 billion loan after the July governorship election in the state.

Speaking with traditional rulers in Osogbo on Thursday, December 15, Adeleke said the state is indebted to the tune of N407.32 billion. Adeleke said his administration inherited eight loan facilities alongside pension and debts, adding that the repayment period of the loans ranges from 16 months to 28 years.

According to him, “My good people of Osun state, the total loan stock as at today is N331.32 billion. If the N76 billion debt on salaries and pension are added, the state is indebted to the tune of N407.32 billion . The amount owed to contractors is yet to be determined. The only fund in government coffers, as at Monday 29th November, was for November 2022 Salary. Otherwise, the state treasury was empty.