Shun Ondo N7bn request, APC warns banks

All Progressives Congress, APC, in Ondo State has cautioned the Federal Government and commercial banks in the country against granting loans to the state government. The House of Assembly had on Tuesday approved Governor Olusegun Mimiko’s request to borrow N7 billion from banks to finance some capital projects. The APC noted that all the projects executed so far by the government did not justify the N44 billion it met in the state’s coffers and allocations collected from the federation account since inception in 2009. In a statement issued yesterday by its Publicity Secretary, Abayomi Adesanya, APC said the Olusegun Mimiko administration was only trying to create problem for its successor that would take over in 2017. Adesanya challenged governor Mimiko to give account of all allocations collected since inception of his administration more than six years ago. He also asked the state government to explain to people of the state why it needs N7 billion loan when it is yet to clear over N70 billion debts on its neck. ”We have it on good authority that the said N7 billion loan was only meant for completion of the “Dome” project and the Fiwasaye/ Oba-Ile/airport road. These projects have been on since 2009.