Edo State Governor Obaseki alleges APC is borrowing up to N5 billion for the new governor’s inauguration, raising concerns over financial management.
As Edo State prepares for a new administration, outgoing Governor Godwin Obaseki has raised concerns over the All Progressives Congress’s (APC) handling of state finances.
Obaseki claims the APC is borrowing between N2 billion and N5 billion to fund the inauguration of Senator Monday Okpebholo, who is set to assume office on Tuesday, 12th November 2024.
Okpebholo, the APC’s candidate, recently defeated the People’s Democratic Party’s (PDP) Asue Ighodalo in the September gubernatorial election.
Speaking at the inauguration of a 10-member caretaker committee for the state PDP in Benin City, Obaseki alleged that the incoming government has already begun tapping into N27 billion earmarked by his administration for state projects and financial obligations.
He expressed disappointment over the lack of communication with the outgoing administration regarding the inauguration event, stating, “They are doing an inauguration, and the governor is not even invited. It’s as though they’re starting a brand new government and state.”
Obaseki further criticised the timing and scale of spending by the incoming administration, suggesting it is aimed at influencing public opinion.
“In this holiday period, they will want to spend as much money as possible to confuse the people,” he said, emphasising that the alleged N2 to N5 billion borrowing for the inauguration marks the first funds the new administration will take from the state treasury.
Addressing his party members, Obaseki reaffirmed his commitment to the PDP and assured them he would continue to support the party.
He emphasised that the fight to reclaim their “stolen mandate” is crucial to protect Nigerian democracy. “If we allow the APC to go with our stolen mandate, it will mark the end of democracy in Nigeria,” he added.
Meanwhile, Asue Ighodalo, the PDP candidate in the recent election, urged party members to prepare for a challenging legal journey to challenge the election results.
He outlined the upcoming process, stating, “We expect them to reply to our petition next week. We also have five days to reply to their petition.
This will take us to about the 19th of November, with major hearings expected by the end of the month.”
The state’s APC chapter responded with allegations against the outgoing government. In a recent statement, the APC accused Obaseki’s administration of mismanaging N24.6 billion deposited into the state’s account, claiming that N14 billion was spent within a week.
The APC criticised Obaseki’s pursuit of three supplementary budgets since January 2024, including a last-minute N450 billion allocation passed shortly before the September election.
The party asserted that the total funds allegedly misappropriated during Obaseki’s tenure amounted to nearly N2 trillion.
“The total amount squandered during his tenure has reportedly neared the staggering sum of 2 trillion Naira. This astronomical figure demands answers,” the APC’s statement read, urging transparency over state resources and accountability to the people of Edo.
As Edo State transitions to a new administration, the allegations and accusations from both parties underscore deep political tensions and mounting concerns about the state’s fiscal health.