The governor said a large chunk of the loan was being repaid.
The Ogun State Governor Ibikunle Amosun, on Tuesday said he would borrow additional loans to complete his on-going developmental projects across the state.
The governor stated this during his ‘’Work-in-Progress’’ assessment tour of the state, while pledging to check rural/urban drift in the state.
The opposition in the state had questioned the state’s borrowing saying Mr. Amosun may leave the state in debt after his tenure.
Mr. Amosun, however, justified the borrowings; making reference to how he earlier borrowed money and repaid substantial part of it promptly.
‘’I told you we are doing a lot of financial re-engineering back home. Just last year alone, we paid a sum of N12 billion back. So, this year, we are hoping that it will be a minimum of between N15 and N18billion back. If I borrow N25 billion and in one year, I’ve paid back about
N18 billion, so how much am I owing? N7billion. So, I can borrow again. That’s what we are doing,’’ he said
The governor explained that his administration would succeed in the on-going urban renewal
projects across the three senatorial districts in the state.
“I’m sure that the little that we’ve seen, we are leaving nobody in doubt as to our genuine intention to rebuild Ogun State. I know governors will come and go, but it is whatever we do that people will remember us for,” Mr. Amosun stated
The governor assured that he would not relent in his efforts at ensuring that all the council areas in the state were urbanized.
Speaking on the projects across the state, the governor expressed delight that the projects were on course, assuring that they would be completed ahead of time.
He expressed satisfaction at the progress of work done so far on the 107 kilometre Ilara – Ijoun – Egua – Ilashe Road. He said the Ilara – Ijoun and Egua in Imeko/Afon; as well as Yewa North area are the agricultural base of the state; hence, it becomes necessary for the state government to develop the area.
Mr. Amosun promised that more developmental projects would be extended to the Yewa area.