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.

Saka Saadu     Abdulwahab Olarewaju Issa     Arca Santa     Apado     Zaratu Umar     Abdulganiyu AbdulAzeez     Abdulrazaq Sanni     Abubakar B.M     Abdulsalam A. Yusuf     Hassanat Bello     Al-Adaby     Valsolar Consultoria     Ilorin General Hospital     Awoye     Salihu Alhaji Musa     Gbugbu International Market     Abdulrahman Abdulrasak     Jimoh Olusola Imam     Police Commissioner     Umar Bayo Abdulwahab     Theophilus Oyebiyi     Aliyu Salihu     Ilorin Airport     Yakubu Gobir     Shuaibu Yaman     Al-Ilory     Nigeria Customs Service     Saraki     Local Government     Maryam Nurudeen     Elewu     Al-Hikmah University     Saka Aleshinloye     Oke-Ode     Cassava Growers\' Association     NSCIA     Oba Abdulrahim     Rafiu Ajakaye     Countryside Emerging Leaders Fellowship     Ojuekun     Anilelerin     Olaiya Lawal     Balogun Fulani     Lanwa     Olatunde Oyeyiola     Principal Private Secretary     Yusuf Ibitokun Sherifat     Funke Adedoyin     Ben Duntoye     Ridwan Agboola     Ogbondoroko     Jaiz Bank     Saba Jibril     Tafida Of Ilorin     Valsolar Consortium     Alapado     Arinola Lawal     HAMFAT Clinic And Maternity     Amina El-Imam     Sulyman Atolagbe Alege     Omoniyi     Nigeria Computer Society     Saka Keji     Ike Ekweremadu     Towoju     TESCOM     Oba Abu     Abdulrazaq Magaji     Joseph Alex Offorjama     QuickWin     Usman Rifun     Olatunji Moronfoye     Kannike     Boko Haram     Yakubu Shaaba     Dagbalodo     Oke-opin    

Cloud Tag: What's trending

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

Iyabo Dupe Adekeye     Yeketi     Yahaya Muhammad     Abioye Bello     Sulu Gambari     Suleiman Yahya Alapansapa     Oba Abu     Ilorin East/South Federal Constituency     Kwara Poly     Federal College Of Education (Special), Afon     Ilorin Water Reticulation     Ilorin Emirate     Garba Ayodele Wahab     Amada Jidda     Kunle Okeowo     Apaokagi     Akeem Lawal     Simon Sayomi     Abdulmutalib Shittu     Tunji Moronfoye     David Oyerinola Adedunmoye     Marafan Shonga     Abubakar Lah     Isiaka Oniwa     Abdulrazaq Sanni     Muhammed Aliyu     Tanke Flyover Bridge     Abdul Jimoh Mohammed     Agbarigidoma     Abiodun Musa Aibinu     SSA Youth     Christopher Tunji Ayeni     Ahmad Fatima Bisola     Age AbdulKareem     Cornelius Adebayo     Basit Olatunji     Old Oyo     Maigida Soludero Transit     Mohammed Ghali Alaaya     Busari Alabi Alausa     Abdulfatai Salman Baakini     KW-GIS     Ilorin Emirate Stakeholders Forum     Salake     Geri-Alimi Split Diamond Interchange     TIIDELab     Aliyu Muyideen     Ophthalmological Society Of Nigeria     Owo Isowo     Zaratu Umar     Taofeeq Olateju     Lola Olabayo     Gamji Members Association     Abdulrasaq Alaro     Surajudeen Akanbi     Stephen Fasakin     Shururat Olatinwo     Budo-Egba     Ganiyu Abolarin     Alfa Modibbo Belgore     Abdullahi G. Mohammad     08001000100     Mahee Abdulkadir     Abdulmalik Bashir Mopelola Risikatullahi     Taofeek Sanusi     Saka Aleshinloye     Suraj Tunji Oyewale     Saliu Ajia     Obuh     NaAllah     Kwara Metro Park     Gbenga Olawepo     Ayodele Olaosebikan     Sidikat Akaje     Muftau Akanbi Oke     Ganmo Power Sub-Station     Yakub Lai Gobir