The Fiscal Responsibility Commission, on Thursday, released a report claiming that some south-western states were in huge debts. Reacting to the report, most of the states indicted in the report stated that the report was outdated and did not reflect the present happenings in the states.
The Ondo State Government on Friday said
the report of the FRC which claimed that the state was over-indebted
did not capture the present state of things in the sunshine state.
The state’s Commissioner for
Information, Mr. Kayode Akinmade said that the report which was released
on Thursday, was outdated.
He said, “Going by the date of the
report, this could not have been the latest status of Ondo state’s debt
profile because this is a 2011 report. However, from time to time, we go
to look for finance from the Money and Capital market.
“Every state carries some debt profile, ours is very sustainable, our debt service ratio is below 20 per cent.”
Senior Special Assistant to Kwara State governor, Dr. Muyideen Akorede, did not answer calls by our correspondent.
The report called on the Central Bank of
Nigeria, Security and Exchange Commission and other financial clearing
houses to control the rate at which state government obtained loans.
In his reaction to the claims of the
FRC, the Commissioner for Finance in Ekiti State, Dapo Kolawole, in an
interview with our correspondent, refuted the claim by the FRC.
He stated that the information is false
and the data is wrong. He further challenged them to publish their data.
The commissioner stated that the state was a very prudent.
Kolawole said, “The information is false
and the data is wrong. Ekiti is one of the most efficient states in the
country. In terms of financial management, we are very efficient and
prudent.
“It is embarrassing for somebody sitting
somewhere in Abuja to tell me that Ekiti is one of the states that
over-borrowed without a crosscheck. What is the basis, statistics and
how much have we borrowed compared with the state GDP?
“The Debt Management Office in Abuja can
qualify to talk about the debt profile of Ekiti State and we are the
first to set up the State DMO. We understand what it takes to borrow. If
somebody from the Fiscal Responsibility Commission is alleging that we
have a huge debt profile where did they get the information from? I
challenge them to publish their data.
“I make bold to say that Ekiti is one of
the least borrowing states in the country. We have tied every borrowing
specifically to regenerative assets that everybody can see. I will
advise them to concentrate on the Federal Government and allow us to do
our job.
Also, the Lagos State Government on
Friday noted that the state is solvent and capable of redeeming any of
its commitment. The state government said the observation of the FRC
that the state was one of the state in serious debt was careless and
capable of causing disaffection.
The Commissioner for Information and
Strategy, Mr. Lateef Ibirogba, questioned the genuineness of FRC’s
submission adding that Lagos had not borrowed money for recurrent
expenditures but for capital projects.
He added that it was standard practice for government to source money for some of its capital projects.
Ibirogba said, “Lagos State is not in
any serious debt. I don’t know where FRC got its information from. We
have not borrowed to pay salaries or any other recurrent expenditure.
The funds sourced for are being used for capital projects for the
benefit of the residents.
“The state has not defaulted in any of
its commitment to its creditors. The bonds that government had floated
are being serviced as at when due. As a matter of fact, any of our bonds
are usually sold out. If the state is in serious debt, we couldn’t have
done all these and more.”
Bayelsa State could not give specific
detail on the report due to its technicality. When contacted by our
correspondent, the Commissioner for Information, Bayelsa State, Mr.
Markson Fefegha, said he could not comment offhand because of the
technical nature of the matter.
“I cannot get the details now. The people to consult are not around.”
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We are not surprised of their denials typical of our lying greedy satanic leaders,looting the state dry with their fake and over inflated projects,I said it sometimes ago that I'm so sure corruption will ground this nation....as per ondo state we all knew Mimiko is a big fraud waiting to be unravelled,there is no hope for the future generation with these crops of theiving elite and leaders....revolution will soon swallow them up ....
ReplyDeleteAnd what exactly is a state like bayelsa, ondo, and ekiti, borrowing money To do any way? Bayelsa by last censors figure is less than 3M pple so wat are doing with d state money?
ReplyDelete