The debt profile of Osun State has become a point of contention between Governor Ademola Adeleke’s administration and the opposition All Progressives Congress (APC).
In a statement on Sunday, Adeleke’s spokesman, Olawale Rasheed, defended the current administration, claiming that the state’s debt had decreased over the past two years due to repayment efforts. Rasheed dismissed a recent online report suggesting that Adeleke’s government had increased the state’s debt burden and accused the APC of orchestrating the publication.
“The truth is that Osun State’s debt profile has actually reduced under the leadership of Governor Ademola Adeleke in the last two years,” Rasheed said. “Data doesn’t lie and cannot be hidden.”
Citing figures from the Debt Management Office, Rasheed noted that Osun’s domestic debt stood at N148.37 billion in December 2022 but had fallen to N86.06 billion by June 2024. Similarly, the state’s foreign debt dropped from $91.78 million in December 2022 to $78.17 million in June 2024. He added that this reduction meant that Governor Adeleke had repaid N62.31 billion in domestic debt and $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 didn’t inherit those debts, these amounts would have been better used for the good people of Osun State,” Rasheed said.
In response, APC spokesperson Kola Olabisi challenged the accuracy of the figures cited by Rasheed. “Whatever he is pushing to the public now regarding the state’s debt portfolio is an afterthought which cannot be relied upon,” Olabisi said. “We didn’t fabricate what was published regarding the debt profile under Adeleke. It is already in the public domain. Where did Olawale get his own figures?”
Olabisi also accused the Adeleke administration of using the APC as a scapegoat for its perceived failures. “They can’t continue to blame us for their ineptitude,” he added.
The exchange underscores the ongoing political tension between the ruling PDP and the APC, as both parties continue to debate the financial legacy and management of Osun State.
