Olumide Akpata, the governorship candidate of the Labour Party (LP) in Edo State, has expressed concern over the state’s debt profile, describing it as worrying.
Akpata made this statement during an interview on Channels TV’s Politics Today.
According to Akpata, the combined internal and external debts of Edo State are approaching N600 billion. He emphasized that his concern is not solely about the debt amount but about the utilization of the borrowed funds.
Akpata stated, “The debt profile is worrying if you aggregate the internal and external debts in Edo State. We are heading towards N600 billion. This is the number I have. It is worrying not because I have a problem with debt, but because of what the debt is used for.
“But to handle that you need to increase your earnings, spend a little bit more on debt servicing. It is unfortunate. No responsible governor will refuse to do this. But I am sure with deep thinking there are inventive approaches to financing.
“But the most important thing is that our party we have mama, baba and pikin. This is the most important. Whether you borrow, or from federal allocation, the debt you borrow should be used for the people. That is why we tell Edo people that the Labour Party will use their money for them.
“However, Apata rejected the idea of zoning arrangement, saying it’s in practicable to transfer the system from one party to another,” he added.
In the interview, Akpata also rejected the idea of a zoning arrangement, arguing that it is impractical to transfer such a system from one party to another.
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