DMO Reveals Ekiti State Governor False Narratives on Loan and Governance
- Bayo Adetu
- May 5, 2025
- NEWS
- Ekiti State
- 0 Comments
A group of Ekiti Concerned Professionals has commended the DMO report that contrary to claims by Governor Abiodun Oyebanjii of Ekiti State that his government has not borrowed a penny since assuming Office in 2023, official records from the Debt Management Office (DMO), have disproved the governor’s claims, revealing a loan stock of $31 million between June 2023 and December 2024.
The DMO’s stock of external debts by states, FCT, and the Federal Government covering the period between June 30, 2023 and December 42, 2024, revealed that Ekiti State’s external debt rose from $103,479,209.05 to $134,586,529.60 within the period.
This revelation by the DMO came amidst the chest thumbing and self adulation by the governor of having not borrowed to finance infrastructure and development projects in the state.
Governor Oyebanji has recently increased the tenor of propaganda and his impetuous media campaign as he seeks endorsement for a second term, despite glaring evidence of non performance to deserving a second term.
The Governor’s endorsement seeking project has caused the state huge financial resources as the state’s former governors, past and present national assembly members, traditional rulers, as well as prominent opinion leaders in the state have allegedly been induced with irresistible financial offers.
In a similar vein, the state government claimed in 2024 that it spent a whopping N3.7 billion for the engagement of youth in labour intensive projects in the state, a claim that is also falling flat in the face of no evidence of such projects across the state as youth unemployment remains high and at an alarming level.
Meanwhile, many residents in the state wonder what the loans were used for as several roads in the state in impassable and begging for attention.
Indeed, many of the entry and exit roads to the state are in a deplorable condition, forcing motorists and commuters to resort to taking farther routes before getting to their destinations.
