APC, Gov Adeleke clash over alleged N56bn World Bank loan

A disagreement has emerged between the All Progressives Congress (APC) and Osun State Governor Ademola Adeleke over allegations that the governor is set to secure a ₦56 billion World Bank loan.

The APC claimed that the foreign loans obtained by Governor Adeleke could escalate the state’s debt profile to ₦81.6 billion under his administration. Speaking at a press briefing held at the Tinubu/Shettima campaign office, Chief Kola Olabisi, the party’s Director of Media and Publicity, expressed concerns that Adeleke’s approach to securing loans could plunge Osun State into financial turmoil.

Olabisi alleged that Adeleke had discreetly secured ₦10 billion and ₦3.92 billion in domestic loans in 2023, increasing the state’s debt profile to ₦55.3 billion.

According to him “As if that was not enough, the state has also failed to address the concern that it secretly signed a $16 million foreign loan facility, an equivalent of N26.6 billion, to fund “Nigeria for Women Project.

“The first phase of the NG-CARES ended in June 2024, however, the Osun State governor, we are aware, has been misled to go for the second phase of the programme. Therefore, the state has signed all relevant documents to signify her intention to participate in the second phase of the NG-CARES programme.

“In total, the state will obtain the sum of $35 million (equivalent of N56 billion) on the NG – CARES facility.”

Reacting through his spokesperson, Olawale Rasheed, the governor described the APC claims as illiterate postulation and misleading.

“Normally we are not surprised, because APC has gotten to a stage in Osun that they have nothing to say again, they cannot fault us on our service delivery, they cannot fault us on governance delivery, good governance across the sector, and we are getting award from far and near.

He queried that “How can you call NG-CARES programme a lian, it is a World Bank project that we even inherited from both former Governors Rauf Aregbesola and, Adegboyega Oyetola. How can you call it our matter? It’s not our matter. It’s a federal matter. There are many illiterate postulations coming from APC.”