As the Kwara State government intensifies efforts to obtain a 20 billion naira bond from the capital market, the Peoples Democratic Party (PDP) in the state has described the plan as an attempt to further impoverish the people of the state.
The Kwara State Commissioner for Finance, Demola Baanu, said that the government decided to obtain the 20 billion naira bond to complete ongoing projects, citing dwindling federal allocation.
He explained that the little above one billion naira being collected could barely pay salaries and called for understanding.
The opposition disagreed with this and queried what had been done with the previous bonds obtained.
The PDP Chairman in the state, Iyiola Oyedepo, wondered how the government could continue borrowing to run the affairs of the state, alleging that nearly 500 billion naira had been collected from 1999 till date without tangible projects or positive impact on the people.
He accused the government of not being prudent when the economy was booming as they failed to save for rainy days.
Meanwhile, Governor Ahmed, while swearing in the last batch of the commissioners, warned politicians against politicising the bond issue, stating that this will not affect the fortunes of the state.
He stressed that the state has the capacity to repay its loans through its Internally Generated Revenue.
