N104bn Debt: Gov. Abdulrazaq Comes Under Intense Fire Over Huge Domestic Debt

 

'Celebration Of Presidential Handshake' Amidst Failure, Mediocre, Shameful, — Kwara PDP

— Kwara State PDP Lambasts Gov. Abdulrazaq Over Excessive Borrowing, Incurring Of Huge Debt Of Over N104bn, N45.8bn.

The Kwara state Peoples Democratic party (PDP) on Saturday Lambasted Governor Abdulrahman Abdulrazaq and his APC led administration for excessive borrowing and for plunging the state into huge debt. 

A statement signed by the party's Spokesperson in Kwara state Prince Tunji Moronfoye, the PDP expressed shock what it described as ' the latest desperate attempt by the Mal. Abdulrahman Abdulrazaq led All Progressives Congress (APC) administration , to ' window dress failure.'

The PDP also berated the media aides of the Governor stating that the conduct of the media aides who took to the internet to celebrate a photo showing Governor Abdulrazaq shaking hands with President Buhari was shameful and Mediocre. 

Moronfoye further revealed that the state had Incurred huge domestic debt burden of over one hundred and four billion (N104bn) up from fifty eight billion and two hundred million(58.2bn)

" We, like the rest of  Kwarans wonder what the significance of a handshake between the Kwara state governor and the president is to the development of Kwara state. Especially given the fact that we are at a period where Kwara state has a huge domestic debt burden of over one hundred and four Billion (N104B) up from fifty eight billion and two hundred million (N58.2B) accrued from the inception of Kwara state in 1967.

" The current Kwara state regime is responsible for Twenty Seven Billion and Two Hundred Naira (N27.2B) private bond and Eighteen Billion and Six Hundred Million Naira (N18.6B) loan refinancing facility, offered apiece to all the 36 states by the Federal Government. These two facilities amount to Forty Five Billion and Eight Hundred Million Naira (N45.8B).

" The inept Kwara APC regime of Mal Abdulrahman Abdulrazaq is responsible for borrowing Forty Five Billion and Eight Hundred Million Naira (N45.8B) of the One Hundred and Four Billion Naira (N104B) in a short period of three years. 

" We are yet to factor in the 'humongously' increased Federal allocation to Kwara state, the huge increase in the Internal Generated Revenue (IGR) profile of the state, nor have we considered the various billions of naira in grants and foreign intervention inflow into Kwara state coffers in the last three years. 

" Consequently, considering all these heavy financial inflow, the Mediocre APC regime of Mal. Abdulrahman Abdulrazaq is still unable to complete and commission a single landmark project since it took over the reigns of Government over three years ago. 

" Some days back we saw the Imo state governor Hope Uzodinma, who took over power in his state courtesy of a controversial supreme court decision, six months after our governor, invite president Muhammadu Buhari to commission projects in his state (The second time he is doing this, in three years). The Imo state governor had to contend with the proscribed, Indigenous People of Biafra (IPOB) members and very strong opposition who have made Imo state relatively ungovernable for him. Yet, he is able to complete and invite the president twice to commission projects in his state.

" The Kwara state governor Mal. Abdulrahman Abdulrazaq on the other hand could only go to Aso Rock for a photo shoot opportunity and "presidential handshake". Inviting the president to commission projects in Kwara state after over three years and billions of naira in revenue for the state is clearly too much to ask of our governor. This is completely disgraceful and rather unfortunate. Kwara deserves a government with a leader that understands the business of leadership.

"God bless Kwara state. Amen," he added.