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Published On: Fri, Aug 15th, 2014

N23B Bond: Our grandchildren may never repay the loan-Kwara PDP

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From Olanrewaju Lawal,Ilorin

The Kwara State chapter of the Peoples Democratic Party (PDP) has insisted that the proposed N23billion being sought by the state government in the capital market is not only sustainable but also a sure way of making the state go bankrupt.

The party,in a statement by it State Publicity,Chief Rex Kola Olawoye in Ilorin on Thursday said majorities of people of Kwara state are not in support of the bond.

” We declare that the only set of Kwarans that are in support of the loan are the APC godfather and leaders whose fat bellies would naturally become fatter on the disbursement of the loan. They are those who think that their meal tickets for the next four years is guaranteed on the approval of the loan; they are the ones who have been boasting about that their chances of winning the next general elections would increase on the disbursement of the loan, since they will then have enough cash to throw around.

“We make bold to say that no Kwaran of saner mind will support the APC’s bid to throw their state into yet another dungeon of debt that their great-grandchildren may never be able repay. No Kwaran, who has not seen water to drink for the past six months despite billions wasted from the previous N17billion loan on an ill-defined Ilorin Water Reticulation Project, who daily drive pass the uncompleted and now abandoned Ilorin Metropolitan Square and the Airport Cargo Shed, three major capital projects meant to be completed with the previous loan, would support the new loan.

“This is why we stand by what the state chairman of the PDP, who was personally at the fore-front of the struggle against the previous N17billion loan, and of course all other well meaning Kwarans like Comrade Issa Aremu, the Nigerian Bar Association, Ilorin Emirate Descendant Progressives Union, the Orisun Igomina, etc have said on the loan.”

The party added that “

So, if the PDP chairman was playing politics by opposing the loan, are the other concerned stakeholders playing politics too? The answer, we believe is a capital NO!”

But the APC in it reaction,through it Publicity Secretary,Alhaji Suleiman Buhari said “the issue of bond is wholly a government affair and any attempt to politicise it will fail, just like previous efforts by the opposition PDP were defeated”.

“The opinion of the PDP doesn’t represent the position of Kwarans on the bond. The population of PDP in Kwara State is just 12% of Kwara State population and it is necessary to ask Mr Iyiola Oyedepo; which of the factions in Kwara PDP did he speak for? This query is essential on account of facts that checks cum revelations have shown that the #23billion bond enjoy supports and backing across political lines in the state. He must have expressed his personal view”.


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