Edo State Governor, Adams Oshiomhole, has said that his government was forced to take a $75 million development loan from the World Bank, because the Federal Government led by the Peoples Democratic Party (PDP) in 16 years had looted the nation’s treasury and pauperized the states.
He said it was a good thing that President Muhammadu Buhari came at the right time to stop the liquidation of the country.
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.
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, last week.
Addressing reporters at the Government House on Sunday, Mr. 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.
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