CLARIFYING THE DELIBERATE MISINFORMATION REGARDING THE PURPORTED ₦100 BILLION LOAN BY THE EDO STATE GOVERNMENT

The Edo State Government wishes to unequivocally clarify the deliberate misinformation being circulated by elements of the political opposition concerning a purported ₦100 billion loan allegedly obtained by the administration of Governor Monday Okpebholo. These claims are entirely false, misleading, and constitute a calculated attempt to misinform the public and undermine the transparent governance agenda of the present administration.

For the avoidance of doubt, the Edo State Government did not obtain a ₦100 billion loan. Rather, in June 2025, the State Government acted as a strategic financial guarantor for contractors executing critical infrastructure projects across Edo State. As required by law and in keeping with the principles of accountability and due process, the Governor transmitted a request to the Edo State House of Assembly seeking approval for the guarantee arrangement before its implementation.

The arrangement was specifically structured as a contractor financing facility designed to enable duly nominated contractors access funding directly from financial institutions for the execution of approved projects. Under this model, the State Government merely provides a guarantee to support the financing arrangement, while the contractors remain the direct beneficiaries of the facility and are responsible for the execution of the projects. At no point did the State Government receive or draw down the funds as a loan.

It is therefore inaccurate and irresponsible to portray this guarantee as a loan obtained by the Edo State Government. Such a narrative is either borne out of a deliberate attempt to mislead the public or a gross misunderstanding of established public finance mechanisms. We urge members of the public to disregard these falsehoods and seek clarification from official government channels before accepting politically motivated misinformation.

Furthermore, Governor Monday Okpebholo’s administration remains firmly committed to prudent fiscal management and responsible economic governance. Contrary to the unfounded allegations, this administration has not borrowed any funds to increase the debt profile inherited from the previous administration, which stood at nearly ₦700 billion. Instead, the government has continued to prioritize debt reduction while ensuring the uninterrupted execution of key developmental projects across the state.

Since assuming office, the administration has successfully paid over ₦30 billion in domestic debts and approximately $47 million in foreign obligations inherited from previous administrations. These repayments underscore the government’s unwavering commitment to restoring fiscal stability, strengthening public confidence, and responsibly managing the resources of Edo State for the benefit of present and future generations.

The Edo State Government therefore calls on political actors to refrain from spreading falsehoods capable of creating unnecessary anxiety among citizens. Public discourse should be guided by facts, responsibility, and a genuine commitment to the collective interest of the people of Edo State. This administration remains focused on delivering sustainable development, improving infrastructure, and building a stronger economy through transparency, accountability, and sound financial management.

Signed:

Hon. Haruna Braimoh

Special Adviser on Public Affairs and Media to Edo State Governor