With the revelation by the Debt Management Office (DMO) that Edo state is the third most indebted state in Nigeria in terms of foreign debt profile, the governorship candidate of the Peoples Democratic Party (PDP) in the state, Pastor Osagie Ize-Iyamu, says he has been vindicated.
The report, shows that Edo state owes $179.52 million.
The Edo election is a battle between Obaseki (l) and Ize-Iyamu (r)
The Sun reports that while speaking through the media unit of his campaign organisation, Ize-Iyamu asked Governor Adams Oshiomhole and Godwin Obaseki, who is the governorship candidate of the All Progressives Congress (APC) and head of the state’s economic team, to hide their heads in shame.
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He said the report by the DMO had finally exposed the lies by the Governor Adams Oshiomhole-led government that the state was not owing foreign debt.
Ize-Iyamu said: “The Debt Management Office, Abuja, has just stated that Edo State with a total of $179.52 million as at June 30 this year, holds 4.91 per cent of the nation’s sub-national foreign debts.
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“We know this is outside the over N800 billion debt that Oshiomhole has created for Edo State.”
The PDP candidate in the forthcoming Edo election accused Oshiomhole and Obaseki of wasting the state’s resources and resulting in the its inability to pay the salaries of local government workers.
The DMO had, among others, reported that Nigeria’s debt profile had risen by N4 trillion in the last six months making the total debt profile N16.3 trillion as at June 2016.
It further explained that the debt burden was affected by the currency devaluation.
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