Adeleke dismisses reports of secret foreign loan
AI Executive Briefing
Gemini Flash AI~45s readOsun State Governor Ademola Adeleke has refuted claims of secret foreign borrowing, labeling such reports as fake news. He clarified that the recent rise in the state's external debt profile is a result of matured loans inherited from the previous administration.
Context & Background
- ✦The Debt Management Office (DMO) released data showing an increase in Osun State's external debt stock over an 18-month period.
- ✦The governor emphasized that any future loan acquisition by his administration would be conducted with transparency and adherence to due process.
Key Figures & Named Entities
•Governor Ademola Adeleke, who maintains that his administration has not secured new external loans.•Olawale Rasheed, spokesperson for the governor, who issued the official statement.•$101.70 million, the total external debt of Osun State as of June 30, 2026.
Outlook & Next Steps
The state government anticipates that four additional external loans from the previous administration may mature and reflect in future DMO debt stock reports.
Key Takeaways
AI Summary- Governor Ademola Adeleke has officially denied allegations that his administration secured secret foreign loans.
- The Debt Management Office (DMO) reported a $26.56 million increase in Osun State's external debt between December 2024 and June 2026.
- The state government attributes the debt rise to the maturation of loans taken by the previous administration, specifically citing the Rural Access and Agricultural Marketing Project.
Key Facts:December 31, 2024: Osun State's total external debt was recorded at $75.14 million as of December 31, 2024.December 2025: The repayment for the Rural Access and Agricultural Marketing Project loan matured.June 30, 2026: The DMO report recorded the state's total external debt at $101.70 million.
Editorial Excerpt
Osun State Governor, Ademola Adeleke, has denied taking secret foreign loans, attributing the state's increased debt stock to loans from the past administr
Frequently Asked Questions About This Story
Why did Osun State's external debt increase by $26.56 million?
The increase is attributed to the maturation of existing loans taken by the previous administration, including a $25.8 million loan for the Rural Access and Agricultural Marketing Project.
Has the current administration under Governor Adeleke taken any new foreign loans?
No, Governor Adeleke stated that his administration has not taken any external loans since assuming office.
