The Peoples Democratic Party and the APC-led government bickered on Wednesday over the Edo House of Assembly approval of a N100 billion loan request by Governor Monday Okpebholo.

The parliament on Tuesday approved a N100 billion loan request by Mr Okpebholo to carry out infrastructural development.

A statement by Anthony Aziegbemi, the chairman of the PDP Caretaker Committee in Benin, said the Debt Management Office put Edo’s total domestic debt since 1991 at ₦112 billion as of December 31, 2024.

“If accessed, this loan means that the current administration would have doubled Edo’s debt in just eight months, what took 34 years to accumulate,” he said.

He alleged the absence of transparency, adding that no details on projects, contractors, interest rates, or timelines had been disclosed to the public so far.

The PDP chief noted that Edo citizens deserved to know what financial commitments were being made in their name and what exact cost the burden placed on future generations.

“It is unacceptable to incur such debt without scrutiny or explanation. The state assembly has failed its constitutional oversight duty by endorsing this vague borrowing plan. Ordinarily, loans of this magnitude are sourced from development finance institutions with low-interest rates, not from commercial banks charging exorbitant rates up to 30 per cent,” he added.

According to Mr Aziegbemi, when PDP flagged the IGR decline from eight billion to two billion, they falsely claimed Edo was generating N10 billion monthly.

“Yet this same government reportedly inherited over N50 billion from the Obaseki administration less than eight months ago, so where has all the money gone,” Mr Aziegbemi queried.

Mr Aziegbemi reminded the Edo government and the parliament that the Freedom of Information Act 2011 applied to all levels of government in Nigeria. He disclosed that, in light of the Supreme Court’s 2025 ruling in Osakue v. Edo State, the PDP would file an official FOI request, demanding full loan transparency.

The PDP, therefore, demanded the details of all projects to be financed: contractors’ names and profiles, the full loan agreement, and assembly records.

Reacting, the chief press secretary to the governor, Fred Itua, noted that the Edo government was not obtaining a direct N100 billion loan despite the Assembly’s approval of the facility.

He stated that Mr Okpebholo’s government was acting as a guarantor to contractors, enabling them to secure funding for key infrastructure projects from First Bank. He explained that the facility allowed selected contractors to access funds directly, supported by the state’s financial guarantee, which ensured smooth project implementation.

(NAN)