DMO data validates Osun’s success on debt management — Adeleke’s aide

The Spokesperson to Governor Ademola Adeleke of Osun State, Mallam Olawale Rasheed has said that data released by the Debt Management Office (DMO) has vindicated the Adeleke-led administration on the debt profile of the state.

He added that as against the falsehood published by certain online news platforms and amplified by the All Progressives Congress (APC), State External Debt according to the DMO has reduced by 15% while Domestic Debt reduced by 42%.

Stating this in a statement issued on Sunday, Mallam Olawale Rasheed said that, the domestic debt of Osun was N148.37 billion as of December 2022 but reduced to N86.06 billion as of June 2024 while its foreign debt as of December 2022 was $91.78 million reduced to $78.17 million as at June 2024.

He said, “The truth remains that Osun State’s Debt profile has reduced under the leadership of Governor Ademola Adeleke in the last two years. Data doesn’t lie and cannot be hidden.

“The Domestic debt of Osun was N148.37 billion as of December 2022 but it has now reduced to N86.06 billion as of June 2024. In the same manner, foreign debt as of December 2022 was $91.78 million but it has now reduced to $78.17 million as of June 2024.

“What that means is that the domestic debt of Osun was reduced by 42% and also the external debt was reduced by 15% within two years of our administration.

“What this also means in terms of figures is that Governor Adeleke has paid back N62.31 billion as domestic debt and paid off $ 13.61 million in foreign debt, this is the burden the APC-led past administration imposed on the people of the state. If this administration hadn’t inherited those debts, these said amounts would have been better used for the good people of Osun state.

“The online medium failed to do due diligence and published APC’s fabricated fake news. The figures published by the DMO have now exposed the falsehood and fake news.

“The fact remains that Governor Adeleke has not taken any loan. There is transparency and accountability in this government. We are concerned about the welfare of the people and we will keep doing that.”

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