Osun State Governor, Rauf Aregbesola, has said the achievements recorded by his administration, so far, has justified the loans it obtained.
He said his administration has rewritten the history of the state and stimulated its economy to the benefit of the people, as reflected in the successes recorded across the different sectors of the economy.
The governor said this yesterday, when he was conferred with an award of ‘Most Outstanding Governor in Good Governance and Positive Creativity’ by the State of Osun Indigenes in Diaspora.
He put the total debt of the state, ranging from local, state and foreign, at N197 billion and said the infrastructure developments made in every sector justifies the debt.
Aregbesola said his administration went borrowing to transform Osun and set the state on the path of greatness, by making it outstanding and competitive in the comity of states in the country.
He described the need for taking the loans as necessity in view of the backward status of the state when he assumed office.
The governor said the loans obtained by his administration were prudently and judiciously used to build 50 years lasting infrastructure in all aspects of life, which, if the state had not taken it, could have been hard to achieve.
He described the time the loans were taken as appropriate in view of the quantum of development made, explaining that failure to take the step at that time may lead to socioeconomic stagnation of the state.
“Since every successful government in the world is indebted, our administration has taken the right step to obtain loans to advance the state and make life abundant and prosperous for our people.
“We have justified the loans we took by our achievements, because if we didn’t take the loans as at that time and used the fund to build roads, schools, hospitals, support for security and lot more, there is no doubt it will be difficult to do it now, in view of the cost of things and hike in the exchange rate.
“At the moment, our state owes N197 billion, but we have justified this by our noble interventions in all sectors, particularly in education, health, security, agriculture and road infrastructure among others,” the governor said.