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.

Jimoh Saadudeen Muhammed     Kwara State Television (KWTV)     Olaoye B. Felix     Mohammed Ajia Ibrahim     Agor Market     Kayode Laro     Kale Belgore     Rasaq Jimoh     Dele Belgore     AbdulRazaq Abubakar Jiddah     Junior Secondary School Certificate Examinations     Ajase-Ipo     Facebook     KWASAA     NaAllah     KWIRS     Ilorin South     Niyi Osundare     Ganiyu Abolarin     Quareeb Islamic Association     Durosinlohun Atiku     Lucky Omoluwa     Labaeka     Oloruntoyosi Thomas     Baruten     Bashir Badawi     Baaziki Sulaiman     Ibrahim Akaje     Aso Ofi     NNPP     Kwara State Television     Face Masks     Marafan Shonga     Gbenga Olawepo     Sulyman Tejidini     Kwabes     Kwara State Infrastructure Development Fund     Oniwasi Agbaye     Fawenu     Tayo Alao     Owu Fall     Elese Of Igbaja     AbdulRazaq Jiddah     Sabo-Oke     Muhammadu Buhari     Kwara 2023     Muideen Olaniyi Alalade     Prince Bola Ajibola     Mufutau Olatinwo     Temi Kolawole     Opobiyi     Amina Susa\'a De Ahmed     Olayinka Are     Mutawali Of Ilorin     Clara Nwachukwu     Ibikunle Ogunleye     Abdulkarim Adisa     John Olajide Adedipe     Baboko Primary School     Ajibola Ademola Julius     Ibrahim Gambari     Ahmed Alhasssan     Students Union Government     Iyabo Dupe Adekeye     Yunus Oniboki     Jumoke Monsura Gafar     Muhammed Mahe Abdulkadir     HYPPADEC     Aisha Ahman Pategi     Ilorin Descendants Progressive Union     Abdul-Rahoof Bello     AbdulFatai Adeniyi Dan-Kazeem     Asa     Okin Biscuits     Akande Idowu Ayoola Muhammed     Balikis Jawondo     Chief Imam Of Lafiagi    

Cloud Tag: What's trending

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

Alanamu     Admiralty Villa     Raji Ayodele Kamaldeen     Akanbi-Oke     Medview Airlines     Aminat Omodara     Jimoh Lambe Abdulkareem     Sardauna     Igbomina     Ojuekun Sarumi     Guber Aspirant     Bature Bello     Yakubu Gobir     Adegoke Bamidele     Offorjama     IYA ALFA NLA     Bio Ibrahim     Kpotum Mohammed Baba     Oyelere Oyinloye     Agor     Kwara NIPR     Eleja Taiwo Banu     Jamiu Oyawoye     Sulyman Abdulkareem     VADA     Saheed Popoola     Ayodele Shittu     Mumini Ishola Hanafi     Kayode Oyin-Zubair     Moshood Bakare     Ayobami Seriki     Abdulkadri Ahmad Alaiye     Ebun-Olu Adegboruwa     Maryam A. Garuba     Monthly Sanitation Exercise     Illyasu Abdullahi     Moremi High School     Garba Dogo     Kannike     Ibrahim Taiwo Road     Shururat Olatinwo     Halidu Danbaba     Bamidele Adegoke Oladimeji     Code Of Conduct Tribunal     Onilu     Kwara South     Samuel Adaramola     Amina El-Imam     Aliyu Muhammed     Halimat Yusuf     Asiwaju Bola Tinubu     Niguel Gallando Marcias     Alikinla     Ilorin Innovation Hub     Kawu     Elerinjare-Ibobo     Sanusi Abubakar     KWIRS     Charcoal     Saliu Tunde Bello     Zulu Gambari     Abubakar Abdulraheem     Odolaye Aremu     Turaki Of Ilorin     Kayode Laro     Sheriff Shagaya     Ibrahim Sulu Gambari     Aliyu U. Tilde     SSA Youth Engagement     TETFUND     Clement Yomi Adeboye     Patigi Regatta     COVID     IYA YUSUF     Abdulfatai Ahmed     Katibi Ibraheem Adeola     Olajumoke Monsura Gafar