Region are plunging the region into huge and embarrassing debt, saying; “It is only in ACN controlled States that 1km of road is being done for outrageous amount ranging from N400 million to over N1 billion.
Reacting to comment by the Oyo State chapter of the ACN that Ibadan, Oyo State capital’s township road awarded at N5.8 billion was not 4km as claimed but 9.52km and that the PDP National Vice Chairman (Southwest), Chief Segun Oni’s credential as an Engineer should be questioned, Oni’s Media Aide, Mr. Lere Olayinka said; “It is ridiculous that a road that already has an existing one-lane will be called dualisation, while in actual fact, what is being added is another one lane.”
Olayinka said further; “even assuming but not conceding that the road in question is actually 9.25km, isn’t it scandalous that a 9.25km of road was awarded to Bola Tinubu’s Hitech Construction Company at N5.8 billion? Even in water-logged Niger-Delta Area, is one kilometer of road being constructed for over N600 million as being done in ACN controlled Southwest States?
“When Segun Oni was governor of Ekiti State, he awarded dualisation of 19km Ado-Iworoko-Ifaki, a near virgin road for a little above N6 billion. The contract was inclusive of Street Lights from Ado to Ifaki. It is also on record that apart from Ado-Iworoko-Ifaki dualisation, the average cost per kilometer of road awarded by the Oni-led government was N37 million. These roads are still being used up till now and they are in very good condition.
“It is therefore alarming that even as admitted by the ACN itself, ‘Challenge Roundabout – Efunsetan Roundabout area, measuring 350m, will cost N509, 003,659.36.’ 350m of road costing N509 million? That can only happen under an ACN-controlled government!”
While reiterating the PDP’s call to the Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC) and other financial clearing houses to do everything possible to checkmate the rate at which the ACN controlled States in the South-West are obtaining loans, Olayinka said; “It is on record that Ogun State is on the verge of taking N100 billion Bond, Osun State alone is owing over N120 billion, Ekiti is owing over N30 billion and is rumoured to be planning to take another
N30 billion while Lagos State government was said to have, as at June 30, 2012, accumulated an external debt profile of $517,677,672 (more than half a billion dollars), despite having a monthly revenue of about N23 billion.
"It is therefore on this note that we are calling on well-meaning Yoruba people to intervene in the affairs of the region by preventing these ACN governors from mortgaging the future of our children through frivolous loans because most of the loans being obtained and projects being financed by the contractors with bank guarantee and promissory notes by the ACN State governments cannot be paid back in the next 50 years."
http://elombah.com/index.php/write-for-us/12479-oyo-governor-fraudulently-awarded-n5-8-billion-contract-to-bola-tinubu
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