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Osun debt profile: Oyetola never took any bank facility for four years  -aide

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Former Osun State Governor Gboyega Oyetola
Former Osun State Governor Gboyega Oyetola
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…challenges Adeleke to publish details of Osun debts with procurement dates
Media aide to the immediate past Osun Governor, Adegboyega Oyetola, Ismail Omipidan, has disclosed for the umpteenth time that his principal never took any bank facility for the four years he served as Governor.
He noted that the debt in question was incurred by the Ogbeni Rauf Aregbesola’s administration.
Omipidan further described the claim by the new governor that Oyetola took N18billion loan facility as not only outlandish but unfounded, insisting that the claim was made out of sheer ignorance and mischief.
He then challenged Governor Adeleke to publish details of the  outstanding loan facilities he claimed his administration inherited and the years they were procured.
Omipidan said the Government is out to smear and blackmail Oyetola’s personality but that Osun citizens and Nigerians from far and near know the truth.
“When talking about loans, you cannot talk of maturity date without talking about the dates they were procured.
“It is either that those who prepared the speech for the Governor to read did not understand the implications of their position or they did it out of sheer mischief to expose their Principal or both. Otherwise, if they had read and understood my Principal’s Farewell Speech very well, they would not have alleged that he took N18 billion loan.
“Again, even in the table they released by themselves, they contradicted themselves. Take a look at item 7 on their list, they captured the N3 billion monthly as having commenced from December 2021 and that it came for six months. Yet, they claim the same N18 billion was accessed after the July election. You see why I said they are either confused or are out for mischief or even both.
“In the third paragraph of the speech from the rear, my Principal had said ‘for four years, we did not take any bank loan facility. But we benefitted from the N3billion monthly intervention from the federal Government for six months to cushion the effect of deductions of budget support facility and salary bailout accessed by the previous administration, just as we have paid N97 billion from the total debt we inherited in 2018.’  I want to believe that is what they have now twisted to call loan. This intervention was extended to all the 36 states of the Federation. And the monthly N3 billion for six months came before the July 16 governorship election. This is a fact that can be verified.
“Let me restate here that we never took any bank facility, and we challenge the Government to publish balances of all bank accounts belonging to the State as at November 26, 2022. When the Oyetola administration took over in 2018, we inherited humongous debt but we never complained or made excuses. What we did was to get to work and find means of making things work for the four years we have governed Osun and we  reduced the debts we inherited by N97Billion.
“By the way, Governor Adeleke announced the freezing of all government accounts on November 27 when he took over. Till date, he is yet to announce that he has unfrozen  the accounts. Yet, they have been spending from State Government coffers since then. So, where is the money coming from? This is where you will know that those around the Governor are a bunch of liars who are not prepared for governance but preparing grounds for excuses and non-performance,” Omipidan added.

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Tinubu Accelerates Northern Rail Projects, Kaduna-Kano Line Set for December 3 Inauguration

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President Bola Ahmed Tinubu has intensified efforts to complete major railway projects across Northern Nigeria, with the Kaduna–Kano Standard Gauge Railway scheduled for inauguration on December 3, 2026.

The 203-kilometre Kaduna–Zaria–Kano railway project has reached approximately 90 per cent completion, while the 400-kilometre Kano–Katsina–Maradi railway project has attained 70 per cent completion.

According to the Federal Government, both projects have recorded significant progress since the Tinubu administration assumed office in 2023. The Kano–Katsina–Maradi project was reportedly at just five per cent completion, while the Kaduna–Kano line was below 30 per cent.

The projects form part of the administration’s commitment to expanding Nigeria’s railway network, improving regional connectivity and facilitating the movement of passengers and goods across the country and beyond.

The Kaduna–Kano railway, an extension of the existing Abuja–Kaduna Standard Gauge Railway, is expected to establish a continuous rail connection between Abuja, Kaduna, Zaria and Kano, strengthening transportation links among key commercial centres in Northern Nigeria.

To assess the level of progress, President Tinubu recently directed a Federal Government inspection team, led by the Permanent Secretary of the Federal Ministry of Transportation, Engr. Funso Adebiyi, to inspect the projects.

Adebiyi expressed satisfaction with the quality of construction work, particularly the railway alignment, drainage systems, embankment protection, stone pitching and soil stabilisation.

The inspection also featured a train test run from Jaji in Kaduna State to Kano, enabling officials to assess the completed track infrastructure and passenger comfort.

President Tinubu has further directed that outstanding land acquisition and compensation issues within Kaduna metropolis be resolved immediately to facilitate the completion of the railway corridor connecting Abuja to Kano.

The Federal Government disclosed that the completed 190-kilometre Jaji–Kano section of the Kaduna–Kano railway, alongside the 250-kilometre Dawanu–Kano–Kazaure–Daura–Katsina section of the Kano–Maradi project, is scheduled for inauguration on December 3, 2026.

When fully operational, the Kaduna–Kano railway is expected to ease passenger movement, boost commercial activities and provide a safer alternative to road transportation along one of Northern Nigeria’s busiest economic corridors.

Similarly, the Kano–Katsina–Maradi railway is expected to enhance cross-border transportation, strengthen regional trade and deepen economic relations between Nigeria and neighbouring Niger Republic.

The Federal Government reiterated its commitment to ensuring that ongoing infrastructure projects across the country are completed and delivered in line with their scheduled timelines.

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FG Begins ₦50,000 Monthly Cash Relief for Vulnerable Nigerians

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The Federal Government has commenced a monthly cash relief programme offering ₦50,000 to vulnerable Nigerians to cushion the effects of rising living costs and economic hardship.

The Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro, disclosed this in a statement issued on Friday in Abuja, announcing the National Emergency Relief and Stabilisation Intervention (NERSI), a presidential initiative aimed at providing direct financial support to millions of vulnerable households.

Doro said the intervention was introduced in response to global food inflation and rising prices of essential goods, which continue to put pressure on household finances.

Under the programme, eligible beneficiaries will receive ₦50,000 monthly to help meet essential needs and ease the burden of the rising cost of living.

The minister explained that the intervention would be reviewed periodically in line with prevailing economic conditions, with beneficiaries notified directly before any adjustment.

He said the ministry was working with licensed digital financial service providers to ensure secure, transparent and timely disbursement of the funds.

According to him, beneficiaries will receive text messages from the providers seeking their consent before payments are made directly into their bank accounts or mobile wallets.

Doro clarified that beneficiaries are not required to apply, pay any fee or register through agents to access the programme.

He warned Nigerians against fraudsters, urging them not to disclose their Personal Identification Numbers (PINs) or Bank Verification Numbers (BVNs) to anyone.

The minister advised those uncertain about any message or facing demands for payment to contact the official NERSI helpline on 0700-022-2222.

He said the intervention complements existing Federal Government social protection and economic support programmes, while strengthening household resilience and economic stability.

Doro added that the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda and underscores the ministry’s commitment to delivering social support with dignity, transparency and accountability.

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Ekiti Bureau Congratulates Oyebanji, Prioritises Curbing Capital Flight

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The Ekiti State Bureau of Local Content has congratulated Governor Biodun Oyebanji on his inauguration for a second term in office, pledging to prioritise efforts to address capital flight and strengthen the state’s economy.

The Bureau, in a congratulatory message issued by its management, and signed by the director of Admin Mr Tope Fasoyin, described the governor’s second-term inauguration as an opportunity to consolidate the achievements of his first tenure and advance policies aimed at promoting sustainable economic development in the state.

 

The agency reaffirmed its commitment to supporting the governor’s vision of retaining more economic resources within Ekiti State through effective implementation of local content policies.

 

It said efforts would be intensified to promote the participation of indigenous businesses in government projects, encourage patronage of locally produced goods and services, and create more opportunities for local contractors, suppliers, and service providers.

 

According to the Bureau, prioritising local content would help reduce capital flight, stimulate indigenous enterprise, create employment opportunities, and ensure that more economic benefits accrue to the people of Ekiti State.

 

The management also pledged to collaborate with relevant stakeholders to ensure that the governor’s economic development agenda is translated into tangible benefits for residents.

 

It expressed confidence that Governor Oyebanji’s second term would bring renewed opportunities for economic growth, investment, and sustainable development across the state.

 

The Bureau wished the governor a successful and impactful second term in office.

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