***520 million is being withdrawn as source as repayment

****Average of 500 – 700 million every month for what he refers to as urgent security challenges,

****Borrowing from capital market to tune of N35 billion for the Benin water storm project

*****The proposed loan facility of $75 million sent to NASS for approval on 4 August, 2015 is part $225 million and second leg of Development Policy Programme the World Bank had approved in 2012, to Edo state government designed to be implemented in three tranches of $75millon per annum.


Chairman of the Peoples Democratic Party (PDP) Edo State chapter, Chief Dan Orbih has lamented, that the World Bank loan being sought after by the Edo State government would amount to mortgaging the future of the state, as it would be spending a substantial part of its monthly income to service the loans.
He called on the Senate and House of Representatives to reject the loan application in its entirety, warning, that if granted, it would impoverish the state.
President Muhammadu Buhari had written to the Senate requesting for approval to obtain a total of $75 million credit loan amounting to N14.7 billion from the World Bank for Edo State.
According to the president, the proposed loan facility of $ 75 million would be a second leg of a Development Policy Programme the World Bank had approved in 2012 which was a total sum of 225million dollars (N44.1 billion) to Edo state government designed to be implemented in three tranches of 75millon per annum.
But speaking with journalists in Abuja, on Thursday, Orbih stated, that “if this loan is granted I am sure the state maybe giving up to 800 million on monthly basis to service all these numerous loans they have taken and it is really sad that there is nothing on ground in Edo state today to justify the huge debt profile of Edo state which is put at approximately 250 billion”.
According to him, the state government hasn’t been bold enough to come out with the actual figure of its debt profile, adding, that the state already has a very huge debt profile.
Read also: Oshiomhole using bogus security challenge to loot Edo -PDP













More at....... http://www.ripples.com.ng/oshiomhole-mortgaging-edo-future-with-reckless-loans-pdp/

He needs to finance his new wife

His new wife is@work











Who knws whr their meetin point is sef

a pH chit

Oshiomole need to "maintain" Lara

I am just ashamed to call this an my Governor. He is the worst Governor in recent times,man with mouth diarrhea.
And pls nobody should compare him with Lucky Igbinedion,instead you should compare him with people like Akpabio,Sulivan Chime, Fashola, etc.

Why go borrowing more money when he can tax Edo girls for monthly returns from Italy,mmmm i dont want to talk much becouse my family marry from edo state.

I know government to be a continuum. Does Oshobaba wants to build the whole state such that subsequent administration will only pay salaries of its workers and service loans?

Borrowing to finance projects should not be done in away that will jeopardize the future, after all we are preaching sustainable development.

I'm equally skeptical about the lending by the World Bank to African countries when they actually know that those funds only get stuck in someone's pocket.

Orjioorji:
Why go borrowing more money when he can tax Edo girls for monthly returns from Italy,mmmm i dont want to talk much becouse my family marry from edo state.

ideally, they are supposed to be taxed.

Orjioorji:
Why go borrowing more money when he can tax Edo girls for monthly returns from Italy,mmmm i dont want to talk much becouse my family marry from edo state.

Because you did visa for them to travel to Italy oga?

APC!!!!! SUPER LOOOOOOTERS!!!!

The PDP shouldn't spoil Osho's parade. This is just another testament of how the APC have PMB by the jugular and are making him steal like a blind robber. This is why he doesn't want ministers. The level of thievery going on is alarming and record breaking

Oshomole pls GO AND DIE

barcanista:
Oshiomole need to "maintain" Lara

. Maintain gini? Is she part of edo state project? Oshi done fall our hand wela for edo state. Apc shld jus forget edo state ooo because already 2 senatorial district is for pdp already. Let his tenue come and go abeg. Nawaooo short people.

Lalasticlala