OPINION: Of Yaman's debt gaffe and PDP’s shock-jocks - Rafiu Ajakaye

Date: 2022-06-21

Believing one’s own lie — a kind of cognitive bias — is about the worst singular thing to happen to anyone. Arrowheads of Kwara’s PDP actually believe their own lies, and that explains their wobbling messaging thus far. They believe the only reason Kwarans rejected them in 2019 was simply because some opposition radio firebrands had lied to the public.

Nine in 10 PDP persons hold this view. Only a tiny but suppressed minority of them believe otherwise. For that reason, the party has lined up its talking heads to go on air to lie to the people in the hope that this will land them in government house in 2023. They have gone as far as saying they did not owe salaries at all; that colleges of education workers were not on strike because they were not being paid; that all accreditations were done as and when due; that the taps were in fact running everywhere; that they had paid N200m RAAMP counterpart to the World Bank; that they were actually up-to-date in promotion and that the stories about their paying percentaged salaries were all made up to tarnish their image, among others.

One of them said on a radio programme last Friday that the administration of His Excellency Governor Abdulfatah Ahmed did not borrow a dime in eight years. In fact, their official spokesman recently said that their administration actually signed the Freedom of Information Bill into law and that this administration, in its hatred for anything PDP, had reversed the gains. Jaw-dropping, right? Those who listened to them may have lost count of this tomfoolery and evidently self-damaging tactics. But these shock-jocks believe their own lies!

Enter Alhaji Abdullahi Yaman, a governorship also-ran now flying the banner of the PDP in the state. “We are not unaware of the problem the APC has put on us in Kwara State by the astronomical increase in the debt portfolio with over 300%. Kwara from the least indebted state is now one of the most indebted,” Yaman said in the capital city Ilorin at an event unveiling his running mate Hon. Gbenga Makanjuola on June 18.

Two major lies were told in those lines: that debt profile of Kwara has risen 300% under this administration and that the state was the least indebted in Nigeria before 2019. It’s been many hours since Yaman made those claims.

Those claims were driven by ignorance, mischief, and a group resolution to continually lie to the people whom the PDP strongly believe are mere pawns in their political chess game.

Both claims are false. One, at no time in Nigeria’s chequered history was Kwara the least indebted state. In 2019, Kwara had the 10th highest debt profile in Nigeria; conversely, by March 2022 account of the Debt Management Office, it is the 19th most indebted state. That’s a serious improvement on its 2019 ranking. Two, it is not true that debt profile of Kwara has jumped 300% between 2019 and now. The first and only time the state’s debt profile rose so high was in 2009 when former Governor Bukola Saraki took N17bn bond, among other facilities he had earlier accessed. That took the debt profile to above 300%, considering the fact that he had inherited a below N5bn domestic debt from the late Mohammed Lawal’s administration.

But here are some facts of history for the benefit of Alhaji Yaman, his campaign team, and the PDP shock-jocks who assault the people with barefaced lies on the airwaves.

Between 2003 and 2011, Kwara’s domestic debt profile rose from below N5bn to exactly N25.2bn. That is approximately 404% rise in domestic debt profile under Senator Saraki alone. Don’t forget: in one fell-swoop in 2009, the debt profile rose by over 300% when he took the N17bn bond.

Governor Ahmed, of the same tendency as Saraki and now Yaman, took the local debt profile to N67bn and foreign debt to above $47m by May 29, 2019. In other words, the domestic debt profile jumped 165% under Governor Ahmed. Between 2014 and 2016, a space of two years, the debt rose by 140%, or N15.9bn to N38.1bn.

In 2021, this administration took N27.2bn private bond to steadily bridge infrastructural gaps which the PDP administration had in 2016 pegged at above N256bn. Also in 2021, the administration and 35 other state governments across Nigeria accepted a Federal Government’s offer of N18.6bn loan refinancing facility to ease the burden of paying back loans which were taken as far back as 2015. Combined together, this has only raised the domestic debt profile by 68.3%. Where, therefore, did Alhaji Yaman get his 300% debt rise from? At any rate, projects being done with the funds taken by this administration are scattered around the state, north, south, and central.

Let's put these borrowed monies in context — in the wake of PDP’s red-herrings and the national inflationary trends. The N17bn bond of 2009, then estimated at $113m, is the equivalence of N67.8bn in today’s monetary rate of 600 naira per dollar — far above the combined worth of the two facilities this administration has ever accessed.

There is nothing bad about borrowing to build social and physical infrastructure that improves life’s chances for the people. What is bad, and possibly atrocious, is lying about it or playing the ostrich as candidate Yaman and other PDP elements seem to be doing.

This administration will always speak to its own achievements and seek to be a better version of itself every step of the way, while the PDP is at liberty to go on thinking our people to be fools who cannot tell their yesterday from today. It is their (PDP’s) deserved Golgotha. Good luck!

•Ajakaye is Chief Press Secretary to the Governor

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Moses Adekanye     Kale Bayero     Sabi     Zaratu Umar     NIPOGA     Fatimah Abdulkadir     Tunde Akanbi     Femi Gbajabiamila     Yahaya A Paniyaro     Dogara     Federal Neuro-Psychiatric Hospital     Government High School (GHS), Adeta     General Tunde Idiagbon International Airport     SWAN     Abdulahi Abubakar Bata     Bola Iyabo Ibiyeye Adisa     Saka Asiat Ayinke     Halimah Perogi     Abdullahi Imam Abdullahi     Elerin Of Erin-Ile     Salihu S. Yaru     Baruten     Moses Afolayan     ENetSuD     Hauwa Nuru     Abdulrahman Abdulrazaq     Salman Alada     Ibrahim Taiwo Road     Jimoh Saadudeen Muhammed     Ella Supreme Tissue Paper     Akume     Femi Agbaje     Leke Ogungbe     Oke-Ero     Magaji Erubu     Hakeem Idris     KWACOBPA     Hussein Oloyede     NIPR     New Nigeria People’s Party     Isaac Aderemi Kolawole     Abdulraheem Yusuf     Www.Kwarareports.com     Eleja     Bukola Saraki     Demola Banu     Aliyu U. Tilde     Usman Yunusa     Shettima     Bayo Mohammed Onimode     Is\'haq Modibbo Kawu     BIR     Samari     Yahaya Abdulkareem Babaita     Third Estate     Garuba Alikinla Shittu     Amuda Aluko     Idiagbon     Yakubu Danladi     Ifelodun     Joseph Yemi Ajayi     Elese Of Igbaja     Raheem Adaramaja     Razaq Atunwa     Alore     Memunat Monsuma     Odogun Olushola Gabriel     CCEPE     Abdulmajeed Wahab     Inside Kwara     Olatunde Olukoya     Afonja Descendants Union     Olubukola Kifayat Adedeji     Shehu Jimoh     Binta Abubakar Mora     Amusement Park     Harmony Holdings    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Monsurat Omotosho     Kwara Hotel     Saheed Popoola     Ahmed Mohammed Rifun     Offa     Femi Ogunsola     Communication Network Support Services     Plat Technologies Limited     Ridhwanullah Al-Ilory     Mohammed Kamaludeen     Muhammad Akande Olarewaju Odunade     Sheikh Ariyibi     Yusuf Mubarak     Dan Iya Of Ilorin     Abdulkadir Orire     Ganmo Power Sub-Station     Victor Gbenga Yusuf     Ayodele Olaosebikan     Abdulbaqi Jimoh     Olabimpe Olani     Kemi Adeosun     Ilorin Airport     Oyelere Oyinloye     Peter Obi     Saadu Gbogbo Iwe     Kunle Okeowo     Bello Abubakar     Balogun-Ojomu     Kabir Shagaya     Muhammad Fawaz Abubakar     Raji AbdulRasaq     Government High School (GHS), Adeta     Abdulganiyu AbdulAzeez     Face Masks     Esinrogunjo     Ilorin West     Adamu Attah     Kwara Liberation Group     Ademola Kiyesola     Jaiz Bank     Oyawoye     Abdulganiyu Salahudeen     Kwara State University Of Education     Ajayi Okasanmi     Moro     Towoju     Mope Dasuki Belgore     Abdulrauf Yusuf     Shonga Farm Project     Veterinary Teaching Hospital     Igbomina     Akorede     Paul Olawoore     Lawan     IHS Towers     Gbenga Adebayo     YAKOOYO     Ayinke Saka     Hauwa Nuru     Www.Kwarareports.com     Moronfoye     John Kehinde Salako     Quarry Royal Valley     Kunle Akogun     Kolade Solagberu     Adebayo Salami     Bibire Ajape     Kwara Consultative Forum     Jani Ibrahim     Shola Odetundun     Kola Ologbondiyan     Ilorin Amusement Park     Balogun Gambari     Iyabo Dupe Adekeye     Sulyman Atolagbe Alege     Babaita     Akume