Gov says Osun isn't owing that much money

Governor of Osun, Ogbeni Rauf Aregbesola, has described as an exaggeration, the alleged heavy debt burden hanging from the neck of the state.

Aregbesola said the N165B debt being touted as huge is nothing when juxtaposed with the development that the State has witnessed in the last six years.

A statement by the Bureau of Communication and Strategy, Office of the Governor, quoted the Governor as making the observation on Thursday, while declaring open a one day seminar.

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The seminar was organised for information officers in local government and local council development areas; and area offices across the state.

Aregbesola said if those spreading the rumour of huge debt by the state understand what governance is about, they would realise that the debt is nothing to write home about.

He stated that if the so-called N165 billion debt is spread across the 4 million residents of the state, the burden each person will be laden with is N2,031.25 annually.

"To analyse this alleged 165 billion debt, Osun is made up of 4million people. Four million residents are here in Osun and this debt anyway has been transformed largely to a bond organised by the Federal Government that would last for twenty years.

"Let us now divide N165billion by 4 million people for 20 years. To help you mathematically. This will give N2,031.25 as cost of N165billion debt to every resident of Osun per annum.

"Ironically, this debt that people are shouting and crying about summed up to N5:56K per person daily. This practically means that every Osun resident carries a burden of N5:56K per day.

"This government we are talking about that puts burden of N5:56K to every citizen of the state, thus feeds every pupil in the public school with N70 every school day.

"That government guarantees security for every citizen and the cost for security can not be determined. That government ensures that roads are increasingly getting better.

"That government provides access to rural areas. That government ensures that Osun school functions at the best form. That government guarantees water supply.

"That government guarantees sanitation. That government guarantees so much. That in practical economic terms, is far beyond what individuals must have to give on a daily basis."