A group, Ekiti Concerned Professionals, has commended the Debt Management Office (DMO)’s report, which showed that contrary to Governor Abiodun Oyebanji of Ekiti State’s claims that his government has not borrowed a penny since assuming Office in 2023, the state’s debt stock has increased.
Official records from DMO have disproved the governor’s claims, revealing a loan stock of $31 million between June 2023 and December 2024. The DMO’s stock of external debts by states, FCT, and the federal government covering the period between June 30, 2023, and December 42, 2024, revealed that Ekiti State’s external debt rose from $103,479,209.05 to $134,586,529.60 within the period.
This revelation by the DMO came amidst the governor’s chest-thumping and self-adulation for not borrowing to finance infrastructure and development projects in the state.
Governor Oyebanji has recently increased the tempo of propaganda and his impetuous media campaign as he seeks endorsement for a second term, despite glaring evidence of non-performance to deserve a second term.
According to the Ekiti Concerned Professionals, the governor’s endorsement-seeking project has cost the state huge financial resources, as the state’s former governors, past and present National Assembly members, traditional rulers, and prominent opinion leaders have been induced with irresistible financial offers.
It noted that the state government claimed in 2024 that it spent a whopping N3.7 billion on engaging youth in labour-intensive projects in the state, adding that this claim also falls flat in the face of no evidence of such projects across the state, as youth unemployment remains high and alarming.
It claimed that many residents in the state wonder what the loans were used for, as several roads are impassable and begging for attention.
It also observed that many of the state’s entry and exit roads are in deplorable condition, forcing motorists and commuters to take longer routes before reaching their destinations.