Alhaji Rauf Olaniyan Says No going back on N100bn Bond for developmental projects

Alhaji Rauf Olaniyan Says No going back on N100bn Bond for developmental projects

Alhaji Rauf Olaniyan Says No going back on N100bn Bond for developmental projects

Oyo State Deputy Governor, Alhaji Rauf Olaniyan, on Saturday said the express government’s choice to back formative ventures through N100 billion bond was all together.

Olaniyan told newsmen in Ibadan that such getting would support the small month to month government allotment and internally produced income internally (IGR) collected to the state.

The state government had confronted analysis over a proposed N100 billion cling to back certain undertakings.

Pundits had inquired as to why the state government was proposing another N100 billion bond after it had taken N39 billion advance to make N139 billion inside two years.

Olaniyan clarified that the month to month government portion and IGR were insufficient for the state to set out on formative undertakings.

He said that reserves collecting to the state’s satchel was diminishing day by day, including that the circumstance required the need to get to execute formative activities.

The agent governor blamed the looking at of the credit taken by the prompt past organization and what the current organization has taken since commencement.

Olaniyan said that the prompt past organization need not get by any stretch of the imagination, considering the few subsidizes collected to it, such Paris club, abundance raw petroleum and some over-installment discounted to it.

He said that those assets collected to the prompt past organization were liable for the activities executed, “which are not accessible at this point”.

“The last administration does not need to borrow money then, because there was enough money. They have the Paris club, excess crude oil and some overpayment refund made to Oyo state government.

“There is nothing like that now. The people of Oyo state have elected us, they should give us the chance; we will not betray them. They should give us the support to deliver,’’ Olaniyan said.


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