Governor Seyi Makinde of Oyo state has claimed that his administration inherited a minimum debt of N150 billion, adding that his administration is still checking the books to determine the actual total debt.
Governor Makinde made the claim in a media chat on the state television on the occasion of his one month in office, The Nation reports.
It was gathered that the governor threatened to expose his predecessor, Abiola Ajimobi, if he does not keep quiet about his (Makinde’s) administration.
He said: “We have confirmed N150b debt so far. We are still working to discover any other one. Some of them may be questionable. If you take bond, it is always tied to a particular project. If we want, we can do value-for-money audit.”
According to Makinde, Oyo state receives N4.5b federal allocation while salaries and pensions stand at N5.5b, leaving the state with a shortage of N1b.
The governor, however, said that all those facts were not big problems, adding that he would only be needing the support of the people to succeed and overcome all the challenges.
Makinde said: “Our focal point is how to strengthen the economy of the state so that all and sundry will prosper. But I will expose them if they don’t want to stop disturbing us. When we do, they won’t be able to move in the streets.”