Obaseki Leaving N410 Billion Debt — Transition Committee Alleges

Odubu highlighted Obaseki’s failure to produce audited financial statements, a significant gap that needs urgent attention from the incoming government

Benin City, Nigeria – The Transition Committee of the All Progressives Congress (APC) has raised alarms over a reported debt of more than N410 billion incurred by the Edo State Government under Governor Godwin Obaseki.

This was highlighted on Monday in a detailed report presented to Monday Okpebholo ahead of his inauguration as the state’s fifth democratically elected governor, set for Tuesday.

The committee, chaired by former Deputy Governor Pius Odubu, has urged a comprehensive investigation into the substantial debts. Odubu pointed out that this figure is a stark contrast to the N55 billion debt the outgoing administration inherited in 2016. “For those who are capable of fact-checking, you will discover that the actual indebtedness exceeds N500 billion,” Odubu claimed, emphasizing the need for a deeper inquiry.

The report also raised several concerns about governance and financial management. The committee suggested a thorough review of key agreements, including memoranda of understanding regarding the Central and Stella Obasanjo hospitals. Odubu stated that recent employment in the state should be revoked and called for an investigation into the ownership and management of significant state assets, including the Ossiomo power plant, Radisson Blu Hotel, and the Museum of West Africa Arts (MOWAA).

“Questions about the state’s equity in these companies have remained unanswered by the outgoing administration,” Odubu asserted.

The committee further demanded a critical evaluation of the World Bank-backed EdoBest educational program, describing its operations as “opaque.” Odubu emphasized the necessity of an inquiry into the project to ensure transparency and accountability. Concerns were also raised about major contracts issued by the Ministry of Roads and Bridges, which, according to Odubu, may have bypassed due process. He cited a report from the state’s procurement agency that allegedly indicted the outgoing administration for irregularities, including unauthorized payment advances to contractors.

Additionally, Odubu called for the reorganization of the state’s ICT ecosystem to eliminate duplications and inefficiencies. He highlighted the administration’s failure to produce audited financial statements, a significant gap that needs urgent attention from the incoming government. The report also revealed discrepancies in the official records of teachers, with Odubu demanding an accurate headcount to clarify the situation.

The Transition Committee’s findings are compiled in a 24-page report with 800 supporting annexures, described by Odubu as the result of three weeks of intensive work, including document analysis, consultations, and numerous meetings.