Oshiomhole is lying about $75 million World Bank loan – PDP

By Amako Nneji August 18, 2015 16:47

Oshiomhole is lying about $75 million World Bank loan – PDP

The Peoples Democratic Party, PDP, has refuted the statement credited to Edo State Governor, Adams Oshiomhole claiming he was forced to take a $75 million development loan from the World Bank because the Federal Government led by the PDP in 16 years looted the nation’s treasury.

The National Publicity Secretary of the Party, Olisah Metuh in an exclusive interview with POST NIGERIA on Monday night said in due time the party would take Oshiomhole to the cleaners, although for now the former Labour Leader’s hollow statement would not be dignified with a response.

President Muhammadu Buhari had on August 4, sent a letter to the Senate, requesting them to approve $75 million (N14.7 billion) loan from the World Bank for Edo.

The President in the letter affirmed that the fund was for Development Policy Operation, DPO, a project meant to be completed in three tranches in the State.

See: Buhari questioned for encouraging Oshomiole’s debt increase

The Senate on August 13 endorsed the request after considering the report of the Senator Kabiru Gaya-led ad-hoc committee which worked on the loan request.

See: Senate gives helping hand to Oshiomhole

The approval attracted a lot of criticism especially from public commentators.

“So, the fowls have come home to roost. So all these busybody ‘gragra’ of Governor Oshiomhole has been allowed to influence PMB to forward his request for a foreign loan to NASS.

“Say, why is PMB encouraging Oshiomhole whose government is on the way out to pile further debts on his State?” Uche Ezechukwu, owner of Scroll Media Limited had said.

Addressing reporters at the Government House last Sunday, Oshiomhole put up a defense to justify his decision to collect the loan.

“If the PDP did not steal the money, we would not need to borrow. What we lost from the NLNG under the PDP Federal Government was about $11.6 billion. Edo State’s share of that money was more than N30 billion. If you realize that from every one billion dollars, we get more than N2.7 billion.

“So if PDP did not steal and bleed the economy dry, our legitimate revenue stolen by the past PDP government and its men is more than that.

“PDP is simply not in a position to blame the victims of their own looting which is unprecedented in the history of the country. My hope is that they would be brought to justice.

“You heard President Buhari saying last week that after they finished looting the treasury, they even borrowed to loot. You heard the president say that they took a loan from China and they already had taken $600 million from the loan. By now if they were still there, they would have finished the rest.

“In the South-South zone, look at the debt profile, Edo is the least borrowed. The only major loan we have taken since I assumed office was a N25 billion bond out of which we have paid over N20 billion because we are paying N530 million every month,’’ Oshiomhole said.

He added: “PDP should simply shut up because they destroyed everything. Carry out your own investigations…’’

While responding, Metuh said that Oshiomhole should not blame the PDP for the financial mess in his State since he had been Governor for more than four years.

“We have no response to what Adam Oshiomhole said, but the PDP will soon come out with a statement as regards to Oshiomhole comment.

“What do you want me to say, this is an APC government. He may have made such utterances because he failed to realize that he was a Governor in the state for the last four years.

“For now, that is all I have to say’’ Metuh stated.

See: Metuh dismisses reports of PDP suspension