Omo-Agege to Itsekiri leaders: We ‘ll interrogate N800b debt burden as a govt, complete Ode-Itsekiri Road

…to end corruption in DESOPADEC

By Ovasa Ogaga,

Deputy President of Nigeria Senate Delta State Gubernatorial Candidate of the All Progressives Congress, APC, Obarisi Ovie Omo-Agege has vowed to interrogate the usage of the over N800 billion loan borrowed by the outgoing government of Dr. Ifeanyi Okowa when he is sworn in as governor on May 29, 2023.

He also promised the complete the Ode-Itsekiri Road project, a road leading to the Itsekiri ancestral home which was not completed by one son as a governor of the state for 8 years and has been abandoned by the Okowa-led PDP government.

The Delta Central lawmaker also disclosed that he will put a stop to the use of the Delta State Oil Producing Areas Development Commission, DESOPADEC, as a conduit pipe to fleece the 13% derivation fund coming to the State, noting that the era where DESOPADEC fund is used to service the interest of a few, would be over if he is elected as governor.

Omo-Agege stated this during the interactive session in a Town Hall meeting with Itsekiri leaders and stakeholders in Warri yesterday, disclosed that it is not a bad thing for a state or country to borrow, but that such loans must be tied to specific projects that are beneficial to the masses.

He explained that if part of the mounting loans borrowed by Gov. Okowa in the past seven and half years have been judiciously applied to the completion of the Ode-Itsekiri Road, among others, Deltans would not complain.

Stressing that no meaningful project is on ground to justify the over N800 billion so far borrowed by the Okowa administration, Omo-Agege reminded that all Deltans including children yet unborn have become, “involuntary debtors”.

The APC Governorship Candidate who disclosed that he has put up a caveat (notice) to financial institutions who continue to offer loans to the Okowa-led administration, pointed out that at the appropriate time, it shall be decided whether or not he has the legal right to issue a caveat to stop the banks from offering more loans to Okowa.

He further disclosed that when he emerges the governor by the grace of God, he will take a close look at the projects attached to those loans and ask questions on the purposes for them, adding that he will repudiate loans not satisfactorily explained.

“I’ve been a very angry man, just the same way most Deltans are angry, knowing full well that we receive so much money. And yet, one guy gets up and decides that, in addition to the money we receive, he wants to punish Deltans, by accumulating these debts.

“Today, as we speak, with all due respect, all of us here are debtors. All your children are debtors. Even your grandchildren that have not been born are all debtors. They are involuntary debtors because they did not on their own voluntarily agree that they want to owe any debt.

“But Okowa has decided to make all of us debtors. Now, the question becomes: how do we handle this? Now, let me say this. We cried out, we shouted, we pleaded that Okowa, please stop these attempts to take these loans. We even went as far as issuing a caveat to the banks. I know some have questioned our right in law to issue a caveat when I’m not yet governor. Well, a caveat as we know it in law, is putting you on notice.

“But our argument is this: why would you, a bank, take shareholders’ money to give as loans to a government that has just three or four months to go? So, we are making it clear to them that they are taking a risk. We may, as messengers, not have the legal right to issue a caveat as some may say. But who knows? A judge may define what a caveat means. And to the extent that a caveat is notice; and we have put them on notice, the issue of who issued the caveat becomes irrelevant.

“What does that mean? It means that potentially, we could seek to repudiate those debts, even though they were covered by Irrevocable Standing Payment Orders, ISPOs. So, that is one way of handling those debts.

“The second way is this: all these debts that were accumulated, what was the purpose? Like I said earlier, it is not a crime to borrow money from a government provided the loans are tied to specific projects. As I’m here today, if I hear that Okowa is taking a loan of N5 or N10 billion to complete the Ode-Itsekiri Road, will anybody quarrel with that? This is because we know the purpose of that loan.

“The quarrel we have is that these loans are not tied to specific projects. What it means is that, at some point, they may have to explain to us what they did with the money. It is not Ovie Omo-Agege’s money, it is our commonwealth”, Omo-Agege said.

Responding to a question on the benefit of the oil-producing communities from the 13% derivation fund, Omo-Agege noted that the law setting up DESOPADEC provides that 50% of the 13% derivation fund ought to be for the development of the area which has been affected by environmental degradation.

He noted that what is happening in the Oil Commission today is that once staff salaries are paid from 50% part of the balance is returned to Asaba while the remainder is shared among the so-called management staff and directors.

“I was there and in fact, it was under my watch that we mid-wife DESOPADEC, an interventionist agency, in furtherance of the management of the 13% derivation proceeds. Of course, there were several debates at a time, as to whether or not 50% of the 13% was enough. But let us not go back on that. That debate was hard and a decision was taken we agreed in the law that 50% should go to the oil-bearing communities while 50% should go back to the government.

“So, that is the position of the law as of today. Now, the question is whether or not, the 13% is being properly administered by DESOPADEC. And I’m sure there is a consensus out there that DESOPADEC has become a conduit for outright theft of the resources meant for the oil-bearing communities.

“So, we are not happy with the way the 13% is being used. When we come on board, we will take another look at it. DESOPADEC is supposed to be for the development of the areas that suffer degradation as a result of oil exploration and exploitation. That is the purpose. It is not for it to be used for political purposes.

“Today right now what they do there once the money comes, we are told, other than what is required for salaries, the bulk of the money is returned to Asaba and or shared among the directors and management.

“You can take it to the bank, that when I become governor, all of that will change. DESOPADEC will serve the purpose for which it was established”, Omo-Agege stated.

Omo-Agege promised to address the social infrastructure deficit in the Itsekiri area, adding that when he becomes governor, he will consult with the Warri monarch, HRM Ogiame III, Olu of Warri and other stakeholders on which project to be given priority attention.

He, however, urged the people to vote for all APC Candidates including Asiwaju Bola Ahmed Tinubu, the Senatorial candidate, Mr Joel Onowhakpo Thomas, the House of Reps Candidate, Mr Ekpokpo Emmanuel Ekpokpo, on Saturday, Feb 25, and for him as the governor and House of Assembly candidate on Mar. 11, 2023. He promised not to disappoint the Itsekiri nation.