Massive Protest Against Obaseki’s Proposed N20b Loan

Members of civil society groups under the aegis of Joint Forces for the Defence of Democracy (JOFDES) have protested in Benin and its environs against Edo Governor Godwin Obaseki’s move to obtain N20 billion loan.(Wapbaze_Copyright)

They alleged the loan was for the Governor’s re-election bid.(Wapbaze_Copyright)

JOFDES, through its leaders, Osewmengie Isere, a lawyer and Kola Edokpayi, declared that Obaseki’s administration had no justification to obtain another N20 billion loan that would become a burden to Edo people and the unborn generations.(Wapbaze_Copyright)

The protesters, armed with placards bearing various inscriptions, chanted anti-government songs.(Wapbaze_Copyright)

Some of the inscriptions on the placards were: “We reject the N20b loan by Edo State Government”; “Do not sell the future of Edo State, because of political interest”; “Edo is one of the states in Nigeria with highest debt profile” and “N20b loan will be diverted for Obaseki’s re-election campaigns.”

JOFDES said: “Just some weeks to the September 19 Edo State governorship election, Obaseki of the Peoples Democratic Party (PDP) is making a desperate attempt to secure another loan from the stock market.(Wapbaze_Copyright)

“The most shocking part of it is that Obaseki is about taking the loan when Edo State currently services the $150 million facility his administration obtained from the World Bank.(Wapbaze_Copyright)

“Edo State’s domestic debt profile currently stands at N84.76 billion. Edo State has the highest domestic debt in Nigeria second only to Lagos State. Edo State has the highest external debt in the entire South-South zone, with an external debt of $257.92 million, as at March 2020.(Wapbaze_Copyright)

“We find these developments not only worrisome, wicked, reckless, irresponsible and ignominious,but calculated attempts to completely mortgage the future of the youths and other people of Edo State. At no time in the history of our dear state that we have come under the volume of indebtedness that we face today in Edo.”

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Posted By On 08:35 Tue, 14 Jul 2020

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