Governor Adams Oshiomhole of Edo state has explained that his government was forced to secure a loan of $75million from the World Bank

Oshiomhole, who spoke with state house correspondents on Sunday, expressed his delight at president Muhammadu Buhari’s emergence, which he claims has transformed the country and states’ fortunes. Premium Times recalls that the World Bank had approved a $225 million loan for Edo State Government in 2012, to be implemented in three tranches of $75 million per annum.

Governor Adams Oshiomhole and President Muhammadu Buhari

The report states further that the first tranche of the loan was approved by the National Assembly in the 2012-2014 Federal Government External Rolling Borrowing Plan, while the second tranche was approved by the National Assembly, only last week.

In a lengthy discussion with the journalists, Oshiomhole said: “If the PDP did not steal the money, we would not need to borrow. What we lost from the NLNG under the PDP Federal Government was about $11.6 billion. Edo State’s share of that money was more than N30 billion.
“If you realise that from every one billion dollars, we get more than N2.7 billion. So if PDP did not steal and bleed the economy dry, our legitimate revenue stolen by the past PDP government and its men is more than that.
“PDP is simply not in a position to blame the victims of their own looting which is unprecedented in the history of the country. My hope is that they would be brought to justice.
“You heard President Buhari saying last week that after they finished looting the treasury, they even borrowed to loot.