Don’t give Mimiko loans, APC tells FG, banks

The All Progressives Congress in Ondo State has urged banks and the Federal Government not to grant any loan to the government of Governor Olusegun Mimiko.

The party said this in a statement by its Publicity Secretary, Omo’ba Abayomi Adesanya, on Thursday.

It also asked Mimiko to give account of all allocations that had accrued to the state since the inception of his administration more than six years ago.

The APC also challenged the state government to explain to the people of Ondo State why he should be granted a N7bn loan from Access Bank when he has yet to fully offset the over N70bn debt formally incurred.



The party cautioned the Federal Government and the bank on the danger of approving such loan for Mimiko. The APC further explained that projects executed under Mimiko’s watch could not justify the N44bn his administration inherited and the huge allocations he had received since 2009 when he took over the reins of government.

The statement read, “The approval of this loan will create pitfalls and drawbacks for the incoming administration. This is similar to what President Muhammadu Buhari inherited from his predecessor, Dr. Goodluck Jonathan. Mimiko was only planning to spread banana peels on the way to prevent his successor succeeding.

“The good people of Ondo State must ask Mimiko why the state should borrow more money when he could not properly manage previous loans, account for inherited state treasury and offset outstanding loans and indebtedness.”

The APC said Mimiko’s government when inaugurated promised to turn Akure, the state capital, to a “small London” and that the Oyemekun/Oba-Adesida Road would be converted to a six-lane dual carriage way.

It noted that houses and shops were demolished while project were awarded for N3.2bn, but residents were shocked that the contractor ended up only “replacing street lights and road dividers.”

“We, therefore, urge the Federal Government and the bank involved not to grant the loan to this government and we are also calling on the lawmakers, who are representatives of the masses, to invite the governor for explanation on how he has been spending the state’s allocations for the past six years,” the statement added.