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A recent budget performance report from Osun State reveals that the state incurred loans totaling N10 billion in 2023. This is in contrast to earlier claims by Governor Ademola Adeleke, who had stated that his administration had not taken any loans.
Governor Adeleke, who assumed office in November 2022, had publicly declared that his administration had not borrowed money. In a speech during the second anniversary of his tenure, he reiterated that he had blocked financial leakages and used local resources to manage costs, rather than relying on loans.
“I want to make it clear that for all our projects and programmes, we have not taken any loans. Instead, we have sealed financial leakages and used local content to reduce project costs and maintain high standards,” he stated. He also emphasized that no contractors from the previous administration were fired, and his government runs in an open and transparent manner.
However, according to the budget performance document, the state had obtained N10 billion in loans in 2023. Additionally, between January and September 2024, the state recorded a loan of N593.4 million.
Governor Adeleke also addressed the issue of security votes, stating that he does not receive any security vote in the state. He clarified that while he does not take security votes, his administration supports security agencies with logistics under security services expenditure, which is approved through the Office of the Special Adviser to the Governor on Security Matters.
Despite this claim, records show that between 2023 and September 2024, Osun State spent N2.6 billion on security votes, with N2 billion spent in 2023 and another N684 million between January and September 2024. The government distinguishes between “security votes” and “security services,” with the latter category seeing an expenditure of N1.1 billion from January to September 2024 and an additional N527 million in 2023.
