Edo Debt Soars from N44bn to N485bn Under Obaseki - APC

The Edo State chapter of the All Progressives Congress (APC) expressed grave concerns over the state's burgeoning debt profile.

According to Patrick Ikhariale, a prominent APC chieftain and member of the Assets Verification Committee, the debt accumulated under former Governor Godwin Obaseki's administration has reached alarming levels.

Ikhariale detailed that from the inception of Edo State in 1991 until 2016, the total debt was maintained at less than N44 billion. However, during Obaseki's eight-year tenure, from November 12, 2016, to November 12, 2024, this figure ballooned to over N485 billion.

This represents an increase of between 2000 and 3000 percent, a statistic that has raised eyebrows and sparked debate about fiscal responsibility and governance.

"The debt left behind by the immediate past government is significantly higher than the accumulated loans incurred by previous administrations," Ikhariale stated. He emphasized that the committee's objective is not to conduct a witch-hunt but to engage in fact-finding, encouraging public participation through memorandum submissions.