africa

You borrowed money for non-existent projects – APC replies Gov Obaseki on state of economy


“In the past seven months, Obaseki has plunged Edo into higher debts by taking more loans which has seen a 67 per cent increase in its debt profile.

“Edo under him has overtaken Rivers as the state with the highest foreign and domestic debt in the South South and it is on a steady course to displace Lagos as Nigeria’s most indebted state,” he said.

Imuse said that while Kogi had successfully reduced its domestic debt from N132.5 billion to N73 billion, Edo had spent more money servicing debts than financing education, healthcare and infrastructure even without a state cabinet.

He described as spurious, alarmist, untrue and wicked, claim by Obaseki that Nigeria was on its way to becoming another Argentina in terms of low currency value.

He advised the governor to use his membership of the National Economic Council, Nigerian Governors Forum and Nigerian Economic Summit to offer useful suggestion on how to move the economy forward.

This, he said was better than singling himself out for pediatric applause, because the management of Nigerian economy was not just the responsibility of one person, but that of the government, of which he was a part.



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