Ogun State Debt Profile: When will they stop hoodwinking the polity?

We present to the entire people of our dear state, another version of our government's inconsistencies on the actual debt profile of Ogun State prior to the commencement of their administration.

The Commissioner for Finance in state of Ogun, Mrs Kemi Adeosun, said on Friday that the debt profile of the state has been reduced from #87 billion to #63 billion.

Adeosun made this known in Abeokuta while defending the ministry’s 2013 budget at the state House of Assembly.

She said the present administration actually inherited #51.4 billion and not #49 billion debts.

Now, this will be the first time where they publicly confirmed that they truly met some thing good on ground, courtesy of OGD led government.

''On the #300 million ecological funds given to the state, she said the money was inherited from the last administration and it was still intact in the coffers of the ministry.''

“It will be released to the ministry of environment in due course,” she said, adding that the ministry planned to generate #10 million as revenue in 2013.

Kindly Note that she refused to publicly declare the real figure of what their government has borrowed so far which amounts to almost #150 billion.

On the real debt left by the immediate past administration, we still maintain our stand hoping that they will own up and tell the whole world that which is the simple truth in no distance time.

OUR POSITION

LOANS:

Internal Loans (Cash loans from Banks) 13,978,617,955.78 

External Loans (Foreign loans from multilateral agencies) 12,474,642,761.35 

TOTAL A 26,453,260,717.13 

CONTINGENT LIABILITIES: 

Contractors' Arrears 3,449,412,141.81 

Pension and Gratuity 7,637,963,900.12 

Others (Subvention, Bulk Release, Counterpart funds, PHCN etc) 5,665,764,931.25 

ISPO 3,602,423,669.83 

Salaries (Gen.31, Leave Bonus, Deductions etc) 2,423,771,803.53 

TOTAL B 22,779,336,446.54 

GRAND TOTAL A+B 49,232,597,163.67 

 It is evident that the figure they usually placed to the inherited debt depended on their mood and the type of audience they addressed. In some instance, they puts the figure at #105 billion. On another occasion, it was #95 billion, during another event (which repeated itself yesterday), the figure came down to #87 billion. On one significant day, they said the whole of the last debt figure was stolen by the immediate past Governor and members of his cabinet.

  When will they stop hoodwinking the polity?