Osun State Governor, Ademola Adeleke, has rejected allegations that his administration secretly obtained foreign loans, describing the claims as misleading and unfounded.
Titansloaded reports that the governor’s position was made known in a statement issued by his spokesperson, Olawale Rasheed, in Osogbo on Tuesday, November 10.
The denial followed the Debt Management Office’s latest report, which showed that Osun State’s external debt rose from $75.14 million in December 2024 to $101.70 million by June 2026, representing an increase of approximately $26.56 million.
According to the statement, the figures reflected an outstanding $25.8 million loan secured by the previous administration for the Rural Access and Agricultural Marketing Project.
Adeleke explained that repayment of the loan became due in December 2025, which was why it appeared in the DMO’s latest debt records.
The governor also disclosed that four other foreign loans obtained by the previous administration had reached repayment stage and could be included in the state’s external debt figures in subsequent reports.
He maintained that his administration had not secured any external loan since taking office, adding that the government remained committed to responsible management of public funds.
Adeleke further assured residents that any decision by his administration to borrow in the future would be made public and handled in line with established procedures.
He criticised those accusing his government of secret borrowing, arguing that their claims showed a lack of understanding of the legal processes involved in obtaining foreign loans.
