Politics
DEBT: Sanwo-Olu govt mortgaging future of Lagos —Jandor
Peoples Democratic Party (PDP) governorship candidate in Lagos, Adeniran Olajide Azeez aka Jandor, has bemoaned the rising debt profile in the state.
The domestic debt profile of the commercial nerve of the country stood at N877,035,995,031.70, according to latest report traced to Debt Management Office (DMO).
Jandor, who condemned the development in a series of tweets on Monday, accused the Sanwo-Olu administration of mortgaging the future of the state in the name of infrastructural development.
He challenged APC-led government in the state to explain what the borrowed funds were used for.
He wrote: “Latest report from the Debt Management Office just revealed how Governor Sanwo-olu has repeatedly mortgaged the future of our state, racking up domestic and international debt under the guise of shoring up projects and improving infrastructure.
“A worrying N79.7 billion was again borrowed between July and September 2022, further raising our debt profile from N797,305,312,602.53 in June 2022 to N877,035,995,031.70 now.
Read also:Jandor laments high drop out rates among students in Lagos schools
“Like i have said in my very recent TV interview, there’s nothing wrong in borrowing to fund public infrastructure, especially when such borrowing is captured in the fiscal policy of the state.
“However, what’s worrisome is the rationale behind this borrowing as nothing is happening on the streets, across the length and breadth of Lagos in the name of infrastructure to account for this huge debt.
“Where is he taking all this money…we need to ask him. This N79 billion, what was it taken for? which project are you investing it on? Governor Sanwoolu needs to answer these questions.”
By Ambali Abdulkabeer
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