Kwara, PDP disagree over N35bn bond

THE Kwara State chapter of the Peoples Democratic Party and officials of the state government have disagreed over the propriety of collecting N35bn bond from the Central Bank of Nigeria.

While the state government insisted that that it needed the funds for infrastructural development, the main opposition party argued that the All Progressives Congress-led administration was embarking on “reckless borrowing.”

Chief Press Secretary to the governor, Rafiu Ajakaye, said, “Everyone complains that Kwara remains hugely dependent on handouts from the centre.

“The bond will fund some ongoing projects to completion, and do many more. These projects include the abandoned Kwara State University Campuses at Osi and Ilesha Baruba, Ilesha Gwanara Road; and a few others. These are projects inherited from the past administration.

“Kwara is essentially an agrarian state. Atop the blessing of rich arable land, it has rich tourism potentials. Kwara is home to the Owu Fall, the highest waterfall in West Africa.”

However, PDP in a statement signed by its state Publicity Secretary, Tunde Ashaolu, said, “The public outcry that has greeted the government’s planned borrowing has shown that majority of Kwarans were not in support of this plan.

“Though we are not against borrowing to fund infrastructure, the State government has however not demonstrated any sincerity, transparency and accountability on the issue as the whole process has been shrouded in secrecy.

“More worrisome is that the government is driving the process through an unregistered company and unknown individuals.”

First Bank

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