According to the Nigerian Bureau of Statistics, (NBS) Ondo State domestic debts race to ₦74.03 billion while its external debt is over $80.84 million.
Given the above, one could only say the major cause of rising debts which was not the case in the previous years was the cost involve in running the governance.
Cost of running governance has always been the centre of citizens and experts arguments in Nigeria. Many say, it is the cost of governance that makes the government to necessarily secure more loan to savour “vanity.”
According to the Ekiti State Auditor General, who recommended to the state’s government on what it can do to reduce its debts-ridden administration, “Government debts should not be allowed to continue to accumulate; rather a strategy should be put in place to tackle the payment.”
But this idea does not go well with the Attorney-General and Commissioner of Justice of Ondo State (now former), Charles Titiloye. He and his office want to use the latest cars the state cannot afford so, they run the state to quickly accumulate debts, multiplying its debts to take care of their personal well-being.
This was probably what made the Ondo State Government to secure over one billion naira loan to purchase car for the AG’s office every year since 2020.
Audited financial reports of the State from 2020 to 2022 show that over a billion naira were the receivables for Ondo AG car loan, alone.
In December 2020, a Ondo AG CAR LOAN worth of ₦1.0 billion was earmarked to the AG’s office, Hon. Titiloye held. By 2021, a sum of ₦1.2 billion was again earmarked under the name “car loan.” By 2022, AG’s office gets another car loan worth of ₦1.1 billion— all of which totalled ₦3.3 billion, serviced and sponsored by either domestic or external debts.
Honourable Charles Titiloye, was among the sacked Commissioners by the current Governor of Ondo, Aiyedatiwa.
After being sacked, Honourable Titiloye was booed by workers who accused him og high-handedness and intolerable for goodwill.
Read Also: SW States, with ₦1.75trn debts, Intend to Spend ₦214.7bn on Governors’ Offices
Enoch Oyedibu
Brazen Investigative Journalist with a knack for tracking the grassroots impacts of government procurement, amplifying marginalised stories and contributing to community development. Data | Multimedia | Stories.
