Edo APC knocks Obaseki over comments on Nigeria’s economy

April 13, 2021
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By PATRICK OCHOGA, Benin City

The chairman, Caretaker Committee of the All Progressives Congress, APC, Edo State, Col. David Imuse (rtd) has described as “spurious, alarmist, untrue and wicked,” the allegation by Governor Godwin Obaseki that Nigerians will soon wake up like the South American country, Argentina.

 Imuse in a statement by the Edo APC assistant publicity secretary, Victor Osehobo also described as laughable, unwarranted and unfounded claims, credited to Governor Obaseki last week, that the country’s economic situation is more critical now because of the huge amount borrowed to service it, adding that the  situation is a classic case of the pot calling the kettle black.

 He said, “The true position is that under Governor Obaseki’s watch, the economy of Edo State is in dire straits with the governor bereft of ideas about how to get it out, with a foreign debt of $300million and a domestic debt including loans from commercial banks, the capital market, and other doubtful sources, approaching N120billion as at March this year, for non-existent projects.”

 According to the Edo APC chairman, “In the past seven months, Governor Obaseki has plunged Edo State into higher debts by taking more loans which has seen a 67 per cent increase in its debt profile. Edo State under Governor Obaseki has overtaken Rivers State as the state with the highest foreign and domestic debt in the South-South Nigeria, and is on a steady course to displace Lagos as Nigeria’s most indebted state”.

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 Col Imuse added that  Edo State now spends more money servicing debts than on education, healthcare and infrastructure without a state cabinet and an aged public service, whereas other states are working assiduously at reducing the debt burden on their citizens.

 “Some state governments have embarked on the reduction of their domestic debts as of the end of September 2020 according to the Debt Management Office which lists Kogi State government as having reduced the state debt from a cumulative N132.5 billion it was as of December 31, 2019, to N73, 314,904,696.35”, Col Imuse added.

Col Imuse said that the Edo State government led by Governor Obaseki is right now holding tenaciously to straws, by personalising his criticism of the Nigerian government, and urged the governor not to hide under the title of investment banker to earn cheap fame.

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