Podium ReportersPodium Reporters
  • Home
  • News
  • Economy
    • Global
    • Nigerian
  • Education
  • Politics
    • Asia
    • Africa
    • Europe
    • Finance
    • Nigeria
    • US & Canada
    • World
  • Science
    • Health
  • Lifestyle
    • Entertainment
      • Comedy
      • Ent & Arts
      • Film & Drama
      • Music
      • videos
    • Homes
    • Luxury
    • Media & Culture
  • Sports
  • Others
    • About us
    • Get In Touch

Subscribe to Updates

Get daily mail of the latest news from the Podium Reporters

[email-subscribers-form id="1"]
What's new

DISSECTING THE PETITION OF THE LABOUR PARTY PRESIDENTIAL CANDIDATE: PART 1 By Michael Chibuzo

27 March 2023

Revealed: How Igbo Traders discriminate against other tribes in Alaba International Market, Ojo Lagos

25 March 2023

Tinubu’s election free and fair, sign of Nigeria’s enduring democracy – Washington Post

22 March 2023
Facebook Twitter Instagram
Trending
  • DISSECTING THE PETITION OF THE LABOUR PARTY PRESIDENTIAL CANDIDATE: PART 1 By Michael Chibuzo
  • Revealed: How Igbo Traders discriminate against other tribes in Alaba International Market, Ojo Lagos
  • Tinubu’s election free and fair, sign of Nigeria’s enduring democracy – Washington Post
  • Victory not just mine, but every Lagosian — Sanwo-Olu
  • INEC declares Sanwo-Olu winner of Lagos Guber polls
  • 24 hours to Lagos Guber polls, leadership dispute over LP ‘legitimate’ candidate lingers
  • FIRS Signs MoU with UK’s HM Revenue and Customs For Collaboration On Capacity Building
  • NASS leadership: Group roots for Hon. Sada Soli as Reps Speaker
Facebook Twitter Instagram
Tuesday, March 28
Podium ReportersPodium Reporters
Demo
  • Home
  • News
  • Economy
    • Global
    • Nigerian
  • Education
  • Politics
    1. Asia
    2. Africa
    3. Europe
    4. Finance
    5. Nigeria
    6. US & Canada
    7. World
    8. View All

    ISWAP KINGPINS ALI KWAYA, BUKAR MAINOKA AND OTHERS NEUTRALIZED IN NAF AIR STRIKES AT BELOWA NEAR LAKE CHAD

    7 November 2022

    End of the road for Odinga as Supreme Court affirms Ruto’s victory

    5 September 2022

    Gov. Sanwo-Olu named Tuberculosis eradication champion, rolls out state plans for TB

    26 August 2022

    Ghana Cedi confirmed world’s worst-performing currency as country battles worsening economic crisis

    18 August 2022

    Breaking: Queen Elizabeth II is dead

    8 September 2022

    Naira redesign to have positive impact on the economy – Experts

    27 October 2022

    FG will stop paying petrol subsidy June 2023 – Minister

    22 August 2022

    Victory not just mine, but every Lagosian — Sanwo-Olu

    20 March 2023

    INEC declares Sanwo-Olu winner of Lagos Guber polls

    20 March 2023

    24 hours to Lagos Guber polls, leadership dispute over LP ‘legitimate’ candidate lingers

    17 March 2023

    ‘Defeat, part of politics; perish thought of self-exile’, Tinubu tells Bode George

    15 March 2023

    Ogun Amotekun arrest man with bloodstained pants

    13 October 2022

    UNGA77: I’ll leave behind credible election in 2023 – Buhari 

    22 September 2022

    Buhari pays tribute to Queen Elizabeth II

    9 September 2022

    DISSECTING THE PETITION OF THE LABOUR PARTY PRESIDENTIAL CANDIDATE: PART 1 By Michael Chibuzo

    27 March 2023

    Tinubu’s election free and fair, sign of Nigeria’s enduring democracy – Washington Post

    22 March 2023

    Victory not just mine, but every Lagosian — Sanwo-Olu

    20 March 2023

    INEC declares Sanwo-Olu winner of Lagos Guber polls

    20 March 2023
  • Science
    1. Health
    2. View All

    Kogi Reference Hospital: Yahaya Bello’s Pure Genius

    28 April 2022

    Kwara hosts 22 APC States’ meeting on improving healthcare access

    26 August 2021

    Distinction: Sanwo-Olu Gets A+ Rating In Covid-19, Security, Infrastructure – Report

    10 August 2021

    Governor Babajide Sanwo-Olu’s Coronavirus Press Statement

    11 July 2021

    FACT CHECK: Video of Elon Musk endorsing Obi fake, part of dangerous disinformation campaign

    31 August 2022

    Metaverse ecosystem market to hit $2t by 2030

    3 August 2022

    Navigating Virtual Market in an African Context by Babatunde Adekanmbi

    10 July 2022

    Kogi Reference Hospital: Yahaya Bello’s Pure Genius

    28 April 2022
  • Lifestyle
    1. Entertainment
    2. Comedy
    3. Ent & Arts
    4. Film & Drama
    5. Music
    6. videos
    7. Homes
    8. Luxury
    9. Media & Culture
    10. View All

    ‘I want my old life back’, BBNaija star, Phyna cries out

    15 March 2023

    Cubana Chief Priest endorses Sanwo-Olu for second term

    6 March 2023

    I didn’t collect money from any candidate — Toyin Abraham

    21 February 2023

    Rema returns with two new songs for 2023

    17 February 2023

    Photos: Banky W, Adesua finally reveal son

    17 September 2022

    SSANU, NASU call off strike after meeting with FG

    20 August 2022

    Sanwo-Olu Inspects 1,188-unit Sangotedo Housing Project, Sets Deadlines for Commissioning

    17 September 2021

    Did you know? – Perfumery edition

    10 August 2022

    Do You Know Who Wore the First Lipstick?

    10 August 2022

    Nigeria’s database increased by 150% in three years, Pantami recounts success of NIM

    17 September 2022

    Nigeria, Qatar set for partnership over cultural promotion

    7 September 2022

    Ooni of Ife marries new wife, Mariam

    7 September 2022

    FACT CHECK: Video of Elon Musk endorsing Obi fake, part of dangerous disinformation campaign

    31 August 2022

    ‘I want my old life back’, BBNaija star, Phyna cries out

    15 March 2023

    Cubana Chief Priest endorses Sanwo-Olu for second term

    6 March 2023

    I didn’t collect money from any candidate — Toyin Abraham

    21 February 2023

    Rema returns with two new songs for 2023

    17 February 2023
  • Sports
  • Others
    • About us
    • Get In Touch
Podium ReportersPodium Reporters
Home » News » GOVERNOR ADELEKE, PDP AND THE CLOWNISH DEBT PROFILE DISCOVERY; A FOCUS ON THE TASK AHEAD
Nigerian

GOVERNOR ADELEKE, PDP AND THE CLOWNISH DEBT PROFILE DISCOVERY; A FOCUS ON THE TASK AHEAD

By Wale Adedayo16 December 2022No Comments52 Views6 Mins Read
Facebook Twitter LinkedIn WhatsApp Reddit Email
Share
Facebook Twitter LinkedIn Email Reddit WhatsApp

Events of “perceived” ecstasy that occurred in the political realm of Osun state this week, when the governor decided to announce his “newly discovered” political goldmine of “humongous debts” incurred by the last administration, led by former governor Gboyega Oyetola, to traditional rulers and the state at large, has once again brought to question the level of preparedness of the governor to manage the affairs of the state he waited several years to govern.

Governor Adeleke, on Thursday, while reeling out those figures to the traditional rulers, must have thought he was unravelling a pandora box to a team of ignorant set of citizens who were just getting inundated for the first time.

Obviously unknown to him, those were a set of people who knew what was on ground and had consistently appreciated former governor Oyetola for his ability to manage the state despite the humongous debt inherited by his administration.

In an excited manner, his handlers rushed to social media and the traditional press to celebrate the new “discovery” which is about to “destroy the opposition forever” and went to town with a victory dance just like a new born that discovered he could suck the breast of his mother.

One must wonder the disgust and disappointment that would be written on the face of the traditional rulers at a time they expect the new governor to lay bare his plans to manage the state above the unbelievable standards set by his predecessor.

Afterall, he has contested for the second time and as such should not be a stranger to the debt profile of the state which he so dearly wanted to govern.

The Oluwo of Iwo had to make an instant remark that “the Oyetola he knew could not have incurred such humongous debt” while the Olowu of Owu Oba Adekunle Oyelude asked him to “focus on the task ahead” instead of “getting distracted”; a subtle reminder to him that they know the state of the debt profile under the last administration but they also witnessed the financial intelligence of Oyetola, who managed it in an unprecedented way by ensuring salaries and pensions get paid as and when due without altering infrastructural developments and other social programs.

THE TASK AHEAD.

IGR

One of the most surprising blueprints of the last administration in the state was the fact that within 4 years, the Internally Generated Revenue rose by over 100% from a mere 9bn yearly in 2018 to 21bn as at the time they left the office on November 27th, 2022.

It was not only unprecedented, it was quite an enormous task worthy of appraisal from all stakeholders in the state and for the first time in the history of the state, it could pay the salaries and wages of the civil servants without having to wait for Federal Allocations. Time will tell if Governor Adeleke and his team has what it takes to sustain this growth and who knows, they could even outdo their predecessor but it has to be sounded out to them that it was not an easy task and therefore, the earlier they get to work to outdo this achievement, the better it is for the state.

LOAN REPAYMENT

Governor Oyetola when sworn in, in 2018, inherited an external debt of $ 101 million. The external debt portfolio of the state had reduced to $84million as confirmed, even by the new administration’s “investigative” team that made the “new discovery”.

A whooping $17 million had been repaid by the past administration in a bid to ensure a fiscal responsibility that will foster the economic growth of the state by making it financially viable.

If Governor Adeleke was to maintain this same standard, the state’s external debt in 2026 would have been brought down to a minimal level of about $67million. A progressive trajectory that would have only seen him match the efforts of his predecessor.

Add that to the fact that the state’s internal debt which was at N148billion in 2018 (according to official DMO’s website) was left at N150billion after 4 years by Oyetola’s administration meant that he incurred an additional debt of only N2billion in 4 years.

Should this not send shivers down the spine of Governor Adeleke and his crew as to how they plan to run the affairs of the state without incurring the same debt which they are crucifying others for?

Observers of the state’s economic trajectory will be keen to see how this administration plan to govern with an average debt of just N2bn in four years while ensuring that salaries are paid, infrastructures are done, social welfare programs continue and the debt profile continues its downward trajectory.

UNEMPLOYMENT RATE
Despite having a whooping 11% of it’s citizens unemployed, Osun tops the least unemployment rate statistics in Nigeria. Governor Adeleke promised to get the youths involved and drive the rate of youth unemployment down to the barest minimum when elected. Time is ticking and one would have expected him to roll out his plans and start working towards it instead of the political grandstanding and populism agenda he seems to be focused on selling to an impatient electorates who keeps watching everyone of his moves with keen attention.

POVERTY RATE

At a national top three percentage of 8.52%, Osun is the 3rd least impoverished state in the country bested only by Lagos’s 4.50% and Delta’s 6.02%.

Governor Adeleke has in his hands, a daunting challenge to either maintain this level or better the performance after the expiration of his first time, when the diligent people of the state will start asking questions based on facts laid bare.

Need i remind them also that with a literacy rate of over 80%, Osun remains the second highest literacy ranked state in Nigeria; a statistics that affirms the intellectual capacity of the state’s electorates to judge performances based on available facts and figures.

HEALTH INSURANCE SCHEME

Osun’s Health Insurance Scheme(popularly called OHIS) could arguably be referred to as the biggest brainchild of the immediate past administration. Perhaps only bettered by the rise in IGR that has brought the state to a level of fiscal stability.

The scheme became so popular that it was adjudged as one of the best in th country. Electorates are interested and having got used to it, a failure in the sector will lit a fire in the belly of hundreds of thousands of beneficiaries in the scheme which has made medical services available and affordable to them.

Worthy of mention also is the level of peace and security in the state that has made it one of the most habitable in the country.

By and large, Governor Adeleke is under enough pressure to outperform his predecessor who was glaringly a performer that lost his seat to internal politics and who left his mark as a prudent yet creative governor among the citizens of the state.

Time is ticking and excuses will not cut it for these Osun indigenes that I know. The best time to get started was 27th November and the second best time is now!

Wale Adedayo is a public affairs commentator and a communication strategist.

Share. Facebook Twitter Pinterest LinkedIn Telegram Email WhatsApp

Related Posts

01 Views

DISSECTING THE PETITION OF THE LABOUR PARTY PRESIDENTIAL CANDIDATE: PART 1 By Michael Chibuzo

27 March 20238 Mins Read
07 Views

Tinubu’s election free and fair, sign of Nigeria’s enduring democracy – Washington Post

22 March 20232 Mins Read
03 Views

Victory not just mine, but every Lagosian — Sanwo-Olu

20 March 20233 Mins Read
Add A Comment

Leave A Reply Cancel Reply

Demo
Top Posts

EXCLUSIVE: Obi agrees to deal to clear path for Atiku’s emergence

26 August 202222K Views

“We have no record of crime against Tinubu” – US declares, falsifies drug dealing allegations

8 November 202211K Views

“Yorubas are from lineage of traitors and cowards, will soon be landless” – Kennena Eloka, prominent Obi supporter, fumes on social media

8 October 20227K Views

Uproar as Obi demands over N1M in gate fees to address Nigerians

4 September 20226K Views
Lifestyle
Entertainment

‘I want my old life back’, BBNaija star, Phyna cries out

By Victor Fola15 March 20232 Views

Big Brother Naija Season 7 winner, Ijeoma Josephina Otabor aka Phyna has yearned for her…

Cubana Chief Priest endorses Sanwo-Olu for second term

6 March 2023

I didn’t collect money from any candidate — Toyin Abraham

21 February 2023

Rema returns with two new songs for 2023

17 February 2023
Find us on social media folow
  • Facebook
  • Twitter
  • Instagram

Subscribe to Updates

Get the latest news from us.

Demo
About
About

It is our belief that the growth of any society depends on the quality of its journalism. We live up to this ideal by providing factual and full information on politics, sports, entertainment and culture so citizens can make informed decisions and act in defence of the truth.

Facebook Twitter
Recommended

DISSECTING THE PETITION OF THE LABOUR PARTY PRESIDENTIAL CANDIDATE: PART 1 By Michael Chibuzo

27 March 20238 Mins Read

Revealed: How Igbo Traders discriminate against other tribes in Alaba International Market, Ojo Lagos

25 March 20231 Min Read

Tinubu’s election free and fair, sign of Nigeria’s enduring democracy – Washington Post

22 March 20232 Mins Read
Most Popular

EXCLUSIVE: Obi agrees to deal to clear path for Atiku’s emergence

26 August 202222K Views

“We have no record of crime against Tinubu” – US declares, falsifies drug dealing allegations

8 November 202211K Views

“Yorubas are from lineage of traitors and cowards, will soon be landless” – Kennena Eloka, prominent Obi supporter, fumes on social media

8 October 20227K Views
© 2023 The Podium Reporters. Designed by Marvelworx Limited.
  • Home
  • Economy
  • Education
  • Lifestyle
  • Politics
  • Science
  • Sports

Type above and press Enter to search. Press Esc to cancel.