BENIN CITY, EDO STATE — Tension heightened in Edo State on Wednesday as the Peoples Democratic Party (PDP) and the ruling All Progressives Congress (APC)-led government traded accusations over the state House of Assembly’s approval of a N100 billion loan request submitted by Governor Monday Okpebholo.
The loan request, which was passed by the APC-dominated legislature, has stirred sharp criticism from the opposition PDP, which questioned the transparency, purpose, and timing of the borrowing plan.
In a statement issued shortly after the approval, the PDP accused the Okpebholo administration of rushing the loan without adequate consultation or a clear blueprint for its utilization. The party claimed the request lacked details on repayment terms, interest rates, and specific capital projects to be funded, describing the development as fiscally reckless.
“This hasty approval raises serious concerns about the financial future of Edo State. The people deserve to know what this N100 billion will be used for and how it will be repaid,” the statement read.
Reacting swiftly, the Edo State Government defended the loan as a critical move to finance key infrastructure and social development projects across the state. A government spokesperson said the facility was necessary to reposition Edo’s economy and boost job creation, especially in light of ongoing developmental deficits.
He further explained that the funds would be committed to projects in education, road construction, healthcare, and water supply, among others, emphasizing that due legislative process was followed before the approval was granted.
Meanwhile, members of the Edo State House of Assembly maintained that the loan passed through proper legislative scrutiny, adding that the funding is intended to fast-track developmental initiatives in line with the state’s medium-term expenditure framework.
Political observers in the state have noted that the controversy may deepen the already charged political atmosphere ahead of the 2024 gubernatorial election, as the PDP continues to challenge the APC’s recent consolidation of power following the exit of former Governor Godwin Obaseki.
As of press time, civil society groups and economic analysts have called for full disclosure of the loan’s terms and urged both parties to prioritise transparency and public interest in the management of Edo’s financial future.
