I Inherited Over N220bn Debt From Mimiko – Akeredolu

 I Inherited Over N220bn Debt From Mimiko – Akeredolu

Governor Oluwarotimi Akeredolu of Ondo State says his administration inherited a debt burden of N220.58bn at its inception.

Akeredolu stated this in Akure on Wednesday while swearing-in commissioners and special advisers.

He advised the people of the state to refrain from acts that could further push the state into deep economic crisis.

Reacting to Governor Akeredolu’s somment,  a former commissioner for Information during the Mimiko administration, Kayode Akinmade, said that Mimiko left N20 billion in the kitty of the state government.

Akinmade skirted the issue of debt and also did not explain why Mimiko failed to match the N38.64 billion left in the kitty of the state government by his predecessor, Governor Olusegun Agagu.

Akeredolu said with a debt of more than N220 billion, it was not difficult for anyone to know that the government’s capacity for adjustment to cater for the people had been stretched to its limit.

According to him Internal Debt of N53.15billion constituted almost a quarter of the debt legacy.

Others are External Debt, N17.48billion; Unpaid Salaries and Allowances, Aug. to Dec. 2016, N17.27billion; and Jan. to Feb. 2017, N6,91billion, Ondo State Pension Liabilities, N4.80billion; Ondo State Gratuity, N15.04billion; Unpaid Local Government Salaries and Allowances Aug. to Dec. 2016, N9.3billion; Jan. to Feb. 2017, N5.19billion.

Local Government Pension Liabilities of N25.23billion; Local Government Gratuities N20.96billion; Contractors’ Liabilities N39.74billion; Outstanding payment requests in the Office of the Accountant-General without cash backing, N5.45billion made up the rest of the debt profile.

However, Akeredolu promised to provide the needed leadership to move the state forward and make life more abundant for the people.

We will continue to strive to keep that vow within the available resources. We can turn things around positively.

The governor also congratulated the commissioners and special assistants, adding that they should use this opportunity to make a difference in the lives of the people.

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