The Edo State Governor stated this on Sunday during the Edo Governorship debate organized by Channels Television.
“Let me make some points very clear. What happened is that my predecessor in office borrowed recklessly and the Federal Government had to restructure all the debts that we have taken before I came into office,” Obaseki said while answering a question about the debt profile of the State.”
“These included a whole series of bank borrowings, borrowing to pay salaries. So, the Federal Government restructured outstanding obligations to Edo State, to the tune of almost N30 billion. That was what was responsible for adding to the debt stock, not borrowings from this administration.”
Obaseki further stated that the former government in the state was owing contractors, amounting to about N70 billion, pegging the debt owed by the state at more than N120 billion.
The PDP governorship candidate added that despite the debt incurred by Oshiomhole, his administration has serviced the debt and also providing the needed development to the people.
“It is not the quantum of debts, it is what you use the debts to procure,” the PDP candidate added. “So as long as you are able to invest your borrowings productively and ensure growth in the economy, then you have enough income to pay back those debts on a sustainable basis.”
Obaseki while appreciating the people of Edo for trusting him to lead them, he said things standing on the path of growth have been bulldozed.
He noted that if he gets another opportunity to serve as the Edo State Governor, he will open up the State to endless possibilities.
The candidate of the All Progressives Congress, Osagie Ize-Iyamu, while speaking said Governor Obaseki has spent over 75billion naira on projects that have all gone to waste.
“It is scandalous that the incumbent governor is attributing the huge debt owed by Edo State, to a predecessor in whose government Obaseki served as a chief economic adviser,” he alleged.
“Sometimes you seem to forget the role you played in the past government,” the APC candidate told Obaseki.