Akeredolu swears in cabinet members; Speaks on State’s debt profile

Ayo Bamidele

 Ondo state Governor, Mr. Rotimi Akeredolu, (SAN) has spoken for the first time on the debt profile of the state, saying his administration inherited N220 billion from its predecessor.

  Also handed over to it was the sum of N9 billion in form of assets and liquid cash in banks and vaults of government agencies.

The Governor disclosed these in Akure during the swearing in ceremony of Commissioners and Special Advisers on Wednesday at the Dome Events Centre.

  Describing the present situation of the state as precarious and depressing, he assured that this would not deter his administration from its obligations to the people.

  Saying that the present administration would still borrow money for its services, he stated that there was nothing wrong in borrowing by any administration.

  The Governor pointed out that what the administration would not do was to borrow money to pay salaries neither would he sell his house for that purpose.

  ”We will not borrow to pay salaries; I will not sell my house to pay salaries; but we will strive to provide social services and protect the future of our children,” he added.

  According to him, the present situation whereby all funds are being spent on recurrent expenditure did not augur well for the state, stressing that the internally generated revenue of the state was too meagre.

  The Governor charged the new appointees to be prepared for belt tightening measures saying there will be no room for ostentatious lifestyles.

  Mr. Akeredolu also charged them not to see the appointment as an opportunity to isolate themselves from the people and the people should not make frivolous demands of them.