Mr Gboyega Isiaka,the Peoples Democratic Party governorship candidate in the 2015 elections ,has condemned the recent request by the Ogun State Government for a fresh $350m World Bank loan.

 The criticism was contained in a statement signed on his behalf by the Director of Research and Communication of The Believe Movement, a sociopolitical organisation promoted by Isiaka.

Reacting to the widely reported House of Representatives committee proceedings that examined the loan request, Isiaka queried the need for another jumbo loan, “considering the fact that Ogun was one of the states that have enjoyed several financial assistance from the Federal government.”

He also argued that the state was in the fold of states with high Internally Generated Revenue.

Isiaka said, “Not only has the state taken two tranches of Federal Government bailouts, it also received two instalments from the Paris Club refund to the tune of tens of billions.

“Notably, too, the state has always boasted of IGR in excess of N7bn monthly; so, one wonders the need, yet again, for a new loan of this magnitude.”

The former governorship candidate further observed that the purpose and details of the loan were unclear to Ogun citizens, alleging that previous loans were “also shrouded in mystery.”

PUNCH