Date: 2015-11-16

The People's Democratic Party (PDP), on Sunday expressed worry over the State Government's resolve to take another N20bn Bond from the capital market to fund capital projects.

Publicity Secretary of the PDP in Kwara State, Dr Rex Olawoye revealed the party's position in a press statement issued in Ilorin on the state of affairs under the All Progressives Congress (APC) led government.

"PDP as the major opposition party condemns the APC led administration of Gov AbdulFatah Ahmed's 'insatiable knack' for taking bonds and all manners of loans to administer the State," Olawoye said.

According to him, the announcement last week to secure another N20 billion bond from the Capital was about the fourth or fifth of its kind to be taken within the last five years of Gov Ahmed's administration.

"We are not against taking bonds, but we are disturbed by the fact that there was nothing concrete on the ground to prove that previous loans taken were used for the benefits of people in the State.

"To worsen the matter, the state economy has even degenerated to the level of taking loans or bonds to pay salaries; yet the state receives her monthly allocations from the Federation Accounts", Olawoye noted.

The PDP noted that Governor Ahmed predecessor and the Senator representing Kwara Central, Sen. Bukola Saraki had concrete evidence of the N23Billion Bond he took when he was in office.

He said, Sen. Saraki was able to build the State University at Malete, International Aviation College, Football Academy, Cargo Terminal, the Post Office flyover bridge and the metropolitan square with N23Billion Bond.

Olawoye said that this has not been the case with the administration of Gov Ahmed as he has failed to show what he did with the previous bonds taken.

He said the APC led State Government has failed to tell the people how much the concerned projects would be generating or have generated.

"Taking loans to finance projects would only be desirable if channeled towards revamping the economy and making the state less dependent on Federal largess", Olawoye said.

The PDP Chieftain lamented that the state government still owed Local Government workers, staff of state owned tertiary institutions, agencies and teachers three to six months salaries.

He regretted that the state was gradually slipping back to the post 2015 general elections era despite the Federal Government N5 billion bailout loan to offset salary arrears.