Edo 2020
Protests, Politics Shadow Obaseki’s N20b Loan Bid
A group, the Joint Forces for the Defence of Democracy (JOFDES) on Tuesday flayed alleged moves by the Godwin Obaseki administration in Edo State to borrow N20 billion from the capital market.
Leaders of the group, Felix Osewmengie Isere, and Marxist Kola Edokpayi, told newsmen on the sidelines of the protest across major streets of Benin, the state capital that there was no basis for the loan.
The state government in a sharp reaction accused the All Progressives Congress, APC of masterminding the protest to embarrass the Peoples Democratic Party, PDP administration.
just few weeks to the state governorship election, the governor is making a desperate attempt to secure another loan from the stock market exchange.
The protesters carried placards calling for the stoppage of the borrowing plan among which were “We reject the N20 billion loan proposal by Edo State government”; “Don’t sell the future of Edo State today because of Political interest;” “Edo State is already one of the states with highest debt profile in Nigeria;” among others.
Protesting the loan plan, the group’s leaders said: “just few weeks to the state governorship election, the governor is making a desperate attempt to secure another loan from the stock market exchange.
“The most shocking part of it is that Mr. Obaseki is considering these loans when Edo State is currently servicing the $150 million credit obtained from the world bank.
“Edo State domestic debt profile stands at N84.76 billion, we have the highest domestic debt in Nigeria, second only to Lagos State. We have the highest external debt in the entire South-South with an external debt of $257.92 million as at March 2020.”
There is no such thing as N20 billion debt proposal by the Edo State Government, and Edo people cannot be distracted by such wild claim.
But reacting to the development, Governor Obaseki accused the APC candidate, Pastor Ize-Iyamu of sponsoring the protest to distract the people from his trial of wrongful receipt of N700 million in 2015.
Special Adviser to the Governor on Media and Communication Strategy, Mr. Crusoe Osagie, in a statement said:
“In a bid to distract Edo people from his ongoing trial in court for a N700 million fraud allegation, candidate of the All Progressives Congress (APC) has resorted to sponsoring protests over non-existent issues.
“There is no such thing as N20 billion debt proposal by the Edo State Government, and Edo people cannot be distracted by such wild claim.
“It is ridiculous that on a day the APC candidate is billed to appear in court after several efforts on his part to stall his prosecution, he comes up with a bogus claim of a non-existent debt proposal, and pay people to put up a protest around the court premises.”
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