By; BAYO AKAMO, Ibadan The Socialist Party of Nigeria (SPN), Oyo State chapter on Monday, faulted Governor Seyi Makinde's defence on the N63.4billio
By; BAYO AKAMO, Ibadan
The Socialist Party of Nigeria (SPN), Oyo State chapter on Monday, faulted Governor Seyi Makinde’s defence on the N63.4billion for the overhauling of the state Government House.
SPN in a statement by its State Secretary, Comrade Ayodeji Adigun, said Governor Makinde’s justification of the approved amount for the overhauling based on debt servicing pressure “lacks merit and is deeply flawed.
” The administration’s claim that this expenditure is necessary to address the effects of exchange rate volatility and the burden of debt servicing is weak, fundamentally flawed, and completely lacks merit”, It said.
SPN added, ” The attention of the Socialist Party of Nigeria (SPN), Oyo State Chapter, has been drawn to the justification by the Engr. Seyi Makinde-led government for its decision to allocate the colossal sum of N63.4 billion for the renovation of the Government House.The administration’s claim that this expenditure is necessary to address the effects of exchange rate volatility and the burden of debt servicing is weak, fundamentally flawed, and completely lacks merit.
” We of the SPN, therefore, maintain that the approval of N63.4 billion for the renovation of the Government House, amidst deepening economic hardship faced by the overwhelming majority of working people in Oyo State, remains a glaring example of misplaced priorities”.
The party stressed, “Governor Makinde’s attempt to attribute the current debt crisis solely to previous administrations is both disingenuous and evasive. While it is true that past governments contributed to the debt burden, the current administration has also significantly escalated the state’s debt profile through questionable expenditures and unsustainable borrowing”
SPN noted that according to the National Bureau of Statistics (NBS), as of 2019, before the Makinde-led administration took office, the total debt incurred by the successive governments, including the late Senator Abiola Ajimobi-led regime, stood at approximately N129 billion”.
It maintained “This comprised N94 billion in domestic debt and N32 billion in external debt”, adding, ” However, within just 15 months of Governor Makinde’s tenure, this figure reportedly rose by N140 billion, bringing the total debt burden to around N266 billion”
“In light of this, it is both hypocritical and misleading to lay all the blame on previous administrations while ignoring the fiscal recklessness carried out by the current regime.Even more troubling is the administration’s decision to prioritise an extravagant and non-essential project like the renovation of the Government House, especially during a time of widespread economic distress.
” The notion that exchange rate challenges and debt repayment obligations justify such a lavish expenditure defies logic. If anything, these challenges should have prompted the government to cut the jumbo pays and opulent lifestyles of top government functionaries as well as its spending on prestige projects and cronyism, and instead channel scarce public resources into areas that directly address the critical needs of the working masses”.
SPN pointed out, ” Also deeply concerning is the simultaneous proposal to procure aircraft for security surveillance. While we recognise the importance of public safety, spending public funds on aircraft in a state where public hospitals lack basic medical equipment, public schools are in disrepair, and rural communities remain grossly underserved is both indefensible and irresponsible. These initiatives reveal a government more interested in prestige and luxury than in the real struggles of ordinary people”.
#NewNigerianNewspapers www.newnigeriannewspapers.ng[lock
COMMENTS