Kingsley Abavo, (Managing Editor), Benin
The Governor Monday Okpebholo’s led All Progressives Congress (APC) administration has not borrowed the sum of N100bn as the opposition, Peoples Democratic Party (PDP) would want members of the public to believe.
Rather, “what the Edo State House of Assembly approved was a contractor-backed loan facility in which the State merely stands as guarantor; a model rooted in prudence, fiscal responsibility, and development-focused innovation“, the APC explained.
The PDP had in its critic; described the alleged proposed N100bn loan as “Criminally Reckless and Will Double Edo’s Local Debt.”
As it demands transparency and immediate halt to what it terms: ‘Irresponsible Borrowing.’
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The Party further held that reckless borrowing is a confirmation of drastic fall in IGR of the State.
But the APC reacting on Wednesday, 25 June, 2025 condemned the PDP for what it labelled: ‘crass mischief to misinform the people of the State’.
The ruling Party’s condemnation was contained in a statement by its State Publicity Secretary, Prince Peter Uwadiae Enosoregbe Igbinigie Esq, and availed journalists in Benin, the State Capital.
In the statement titled: ‘PDP’s Hypocrisy and Ignorance on Edo State Infrastructure Loan Facility’, the APC described the opposition criticism as deliberately misleading and politically motivated.
As it sarcastically ascribed it to what it terms: ‘dying factional Edo State Peoples Democratic Party’s unelected caretaker Chairman, Mr. Tony Aziegbemi’.
The APC statement: “While we would ordinarily not dignify the highly paediatric propaganda and deliberate misinformation with a response, we owe it to the good people of Edo State to unmask the crass hypocrisy, ignorance, and sheer desperation underpinning the PDP’s laughable press statement.
“Governor Monday Okpebholo has not borrowed ₦100 billion as falsely alleged. What the Edo State House of Assembly approved is a contractor-backed loan facility in which the State merely stands as guarantor; a model rooted in prudence, fiscal responsibility, and development-focused innovation.
“This will be rocket science to the PDP. This is not a cash disbursement into the coffers of the State government, but rather a mechanism that allows contractors to access project-based financing directly from First Bank Plc, with full repayment guarantees built into performance benchmarks and delivery timelines.
“It is rather sad that the same PDP which superintended the wanton looting and economic mismanagement of Edo State for eight years, culminating in the hurried release of a so-called ₦50 billion “leftover” that no one can account for, now wants to wear the toga of fiscal discipline.
“Is it not ironic that a party which left a trail of abandoned projects, white elephant contracts, and unpaid pensions now pretends to care about fiscal responsibility?
“What manner of irresponsibility is this, coming from a party that supervised the illegal conversion of public assets into private estates under the guise of reforms?
“Let us be clear: the projects covered under this arrangement have been clearly outlined: flyovers, rural roads, urban renewal projects, and stormwater management across Oredo, Ikpoba-Okha, Uhunmwonde, Etsako, and Esan regions.
“The names and scopes of these projects are already in the public domain. If the PDP is genuinely seeking information, it should consult the records of the State Executive Council or stop playing dumb just to mislead the public.
“Alternatively, they can file a Freedom of Information (FOI) request like any responsible civic group, rather than resorting to media blackmail and childish antics.
“It is shameful that the PDP, in its delusion, would shamelessly accuse the elected Governor of Edo State, distinguished Senator Monday Okpehbholo of securing funds to ‘service his godfathers and political thugs.’
“What better example of projection and self-indictment can there be? If any party is notorious for vote-buying and compromising electoral institutions, it is the PDP.
“It is also distasteful for them to allude to an ongoing legal process before the Supreme Court in such a manner that reeks of bitterness and political paranoia.
“The APC won the 2024 elections fair and square, and no amount of political tantrums can rewrite that reality.
“The PDP’s desperation is driven by its glaring irrelevance in the emerging Edo narrative. A party with no direction, no gubernatorial candidate of substance, and a crumbling leadership structure now finds comfort in issuing poorly-written press releases in the hope of staying politically afloat.
“It is unfortunate that rather than applauding a bold and innovative funding model that saves the State billions in interest payments while accelerating development, the PDP chooses to play petty politics with the future of Edo people.
“We urge the ever conscious and enlightened Edo citizens to see through the antics of these merchants of falsehood.
“Governor Monday Okpebholo remains committed to transparent, accountable, and people-oriented governance.
“Every Kobo guaranteed will be accounted for, and every project executed will reflect value for money. Edo is working again, and no amount of manufactured outrage or recycled propaganda from a rejected PDP can stop that train.”
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