The sum of N14 billion was inherited by Gov Ademola Adeleke of Osun State as he assumed office today.
The immediate past governor of the state, Alhaji Gboyega Oyetola, disclosed this in his pathing shot to the people of the state as he bowed out of office.
This was contained in a statement by Oyetola’s media aide, Mr Ismaila Omipidan. The statement further said Oyetola’s administration paid N97 billion of the debt it inherited in 2018 when he assumed office. He added that his administration did not borrow any fund to execute projects.
He said, “We are leaving behind cash balance of more than N14 billion. In addition to the N14 billion cash, another N8 billion is being expected between December and January 2023 from our performance in States Fiscal Transparency, Accountability and Sustainability programme (SFTAS) and from Internally Generated Revenue.
“For four years, we did not take any bank loan. We benefitted from the N3 billion monthly interventions by the Federal Government to all the states for six months to cushion the effect of deductions of budget support facility and salary bailouts taken by the previous administration.
“We paid N97 billion from the total debt we inherited in 2018.”
He said Osun State was anticipating 72 million dollars from other programmes and from the NG-CARES programme of the Federal Government, among others.
According to him, “These are earned based on performance. And we have indeed performed to earn them.
“As I step aside today following the conclusion of the four-year tenure you freely gave me, I thank God and I thank the people of Osun for your support, cooperation and prayers over the years.
“I recall how the journey began four years ago; how by your belief in me and your conviction in the plans and programmes of our party, the All Peoples Congress (APC), you exercised your right to vote for me.
“As we draw the curtains on this first tenure, we are convinced that we neither reneged on our promise nor disappointed you. We kept faith with you and maintained fidelity with our electoral promises.
“As a law-abiding citizen and government, we are stepping aside to allow the law to take its course.
“We look forward to continue to serve you in no distant future. We have absolute trust in God that we shall be back soon as we have implicit trust and confidence in the Judiciary to do justice in the case before it.
“The sun shall shine again, brighter and warmer and the sustainable development and participatory governance that we enthroned, which were applauded by local and international organisations, shall be restored and put on a surer and better footing.
“There can be no substitute to people-oriented and development-savvy governance in a democracy.
“The taproots of the unprecedented good governance, inclusive and participatory governance that we introduced, which delivered massive equitable projects and programmes, are too strong to be uprooted.
“As we end our first term, rest assured that Osun is more stable economically than we met it in 2018 and it remained the most peaceful state in the country under our leadership.
“On behalf of our team, I appeal to you all to continue to be law-abiding and to work assiduously to build the Osun of our dreams.
“Together, we shall continue to mend the broken walls of our dear state and restore her glory for our collective good and that of posterity.”