Press Release: Insolvency: Treat Aregbesola, Oyetola like Liberia’s Charles Taylor – Osun PDP Charges EFCC, international communities

The Osun State chapter of the Peoples Democratic Party has described governor Gboyega Oyetola and his predecessor, Rauf Aregbesola as criminal siamese twins who deserve worse of Liberia’s Charles Taylor treatments for their financial crimes against humanity in Osun State.

The party stated this while reacting to the latest deductions in the Net allocations to the 36 states of the federation as published by the Federal Account Allocation Committee(FAAC) for the first three months of year 2020. The publication indicated a net accruals of 6.4billion naira to the state from the federation account but with a whooping debt servicing deductions of 5.87billion naira representing an average of 2billion naira per month as debt obligations or 91% of the total allocation. This the party finds curious and extremely worrisome and against the backdrop of continued refusal of the state government to avail the people of the State the actual debt profile of the state.

The PDP in the statement signed by it’s publicity secretary, Sunday Bisi wondered how the duo of Aregbesola and Oyetola retire to their beds at night peacefully considering their gravious roles in plunging the state into such a messy insolvency without corresponding deliverables in terms of infrastructures alluded to the loans obtained from various sources and which has brought down the state, reducing it to a laughing stock amongst it’s peers in the country.

The party said it beats all accounting imagination and indices for a state like Osun to be obligated to debt servicing to the tune of 2billion naira every month considering the fact that most of these loans were said to be negotiated on long term basis even when some of the loans are still on moratorium. The party appealed to governor Gboyega Oyetola to either come out of his shells and make public what the true position or depth of financial incapacitation he and his former boss have collaborated to foist on the state.

The most curious aspect of the financial quagmire according to Osun PDP, which the Aregbesola and Oyetola administrations have refused to profer any reasonable response is that, almost all the projects attached to the procurement of these loans on behalf of the state and for which the state now refund to the tune of 91% of it’s statutory earnings have not seen the light of day several years after the contracts duration and obnoxious reviews.

Of laughable but painful concern is the now wild animals park MKO Abiola International Airport Ido-Osun, which was first awarded on October 12 2012 for 4.5billion naira with an initial duration of 8months, only to be reviewed upward to 11billion Naira after expiration of the initial duration. In all of these times, the only visible work carried out on the airport project was the perimeter fencing of the forest enveloping the site.

This same airport, the PDP noted, was again reawarded for another staggering sum of 69billion naira on November 2, 2017 with another duration of 8months after initial and unexplained wastage of over 15billion naira of Osun State borrowed resources. The contractors have not moved a barrow of sand to the site almost 8years down the line of fraudulent dramas on the airport and Mr Oyetola as Aregbesola”s successor and whose table the projects were said to have been hatched and designed as chief of staff and close confidant to Aregbesola has failed to account for these billions of naira expended on the abandoned project just as the state is being made to make huge refunds on same.

The 29km Gbongan-Akoda road is another project Aregbesola and Oyetola administrations have refused to avail the good people of Osun state the mystery behind it’s abandonment after sourcing and accessing 29.5billion naira for execution of the road project as awarded to one RATCON Construction Company since May 2013.

Osun PDP bemoaned the pain commuters, who are largely residents of the state, go through on the road on daily basis till now after such amount of money borrowed on gasping collateral strength of the state without getting any succur or any form of consolation with the road. The PDP demanded explanations from governor Oyetola in particular on disappearance of the borrowed 29.5billion while the road remained unattended to more than 7years after.

Hon Sunday Bisi also aledged that similar fate had befallen several other projects financed by the credit facilities obtained by the APC administration in the state without any significant effort to get the jobs done. Getting the good people of Osun State to go through the present horror of insolvency obviously is wicked, inhuman and callous to say the least.

“Look at Osogbo-Ila Odo too which has suffered unexplainable neglect, it was also awarded to one SAMANYA Engineering company since 2012 for an initial sum of 17.8billion Naira excluding subsequent reviews. Not more than a quarter of the project has been touched till this hour. Where then are all these borrowed funds which the State toils to repay with over 90% of it’s earnings today? The PDP queried.

Dagbolu international market, the state capital beautification project, major state hospitals across the state, careless tree planting on Ibadan-Gbogan-Ife highway and several other phony projects across the state have all proven as mere conduit pipes to siphon meager resources of the state, an action the PDP described as equivalent of genocide and other known crimes against humanity because of the attendant hellish implications that have sent many indigenes of the state to early graves. As at last count, over 200 pensioners have died in the state just because they were not paid their entitlements by Aregbesola-Oyetola administrations, after several years of meritorious service to the state.

The PDP called on international communities to prevail on anti-graft agencies in the country to look into several complaints already logged by various groups and concerned individuals against the Aregbesola and Oyetola administrations before the state is levelled to the earth on account of this obvious executive malfeasance.

The PDP wondered why civil servants, the pensioners and other critical organs of the state would be made to suffer the brunt of refunding what they know or benefit nothing about.

Sunday Bisi
Publicity Secretary,
Peoples Democratic Party,
Osun State Chapter


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