Otukoko’s bombshell on Gov, AbdulRazaq’s bond bid: N65bn reason you don’t need N35bn bond

By Ahmed Ajikobi
The kwara state government led by governor Abdulrahman AbdulRazaq has been challenged on the controversial 35 billions naira bond which has been generating issue among the member of the Public.
A People Democratic Party stalwart who also double as director of project and empowerment of Abubakar Bukola Saraki has said governor Abdulrahman AbdulRazaq do not need the said bond for the project since the state has the mean of generating internal revenue which has been created by the last administration.
This was revealed by engineer Ibrahim Otukoko on a radio program title Ijoba Alagbada at Diamonds FM which was anchor by Afolabi Jabulani and monitor by National Pilot, yesterday.
Otukoko explained more on the reasons that, in the year 2020 first quarter, kwara generated N 7,236,154,854 which covered January to March through Kwara state internal revenue.
“Second quarter of the 2020, the state also generated N2.145b. The revenue was reduced due to Corona Virus which set all the economic activities down.
“In the year 2021 first quarter, kwara government generated N9,598,102,000,570. In the second quarter 6,3080,510,000,360. The question is that is government need to bid for any bond? There is no need for bond since the state have revenue.”
Otukoko said, ” according to analysis of what government want to use the bond for, is that , government want building innovation hall, visual art theatre, roads, agriculture, education.
“Let’s assume that government want to place N7bn on education in that bond to build classes, hostels among others. But we have basic education are from primary to junior secondary school.”
He said, the state just access N7.1b fund from the universal Basic education commission.” why do government need bond for education again”
He further that, in the Tertiary institution accross the state there is another revenue generated about N5.5bn.
“We are left with senior secondary school alone. Why do you now think we need that bond? Government need to prioritize it’s project. Out of this projects there are some that have grant. For example, they talk about infrastructure like roads, bridges among others which entails 7b. Let’s me explain this.
“We have rural roads that link to rural areas and urban road. State government brought one program called urban renewal program on allocation which they think interlocking of roads.”
Otukoko further that, there is another 60m dollars grant coming from world Bank which is N28bn Nigeria money adding that, State government used 400 million naira to access the grant.
“The grant is called RAMP meaning Rural access and agriculture and marketing project. It was flagged of January 2021. It was coming from world Bank project. Is that not sufficient for government? There is no need for that bond.”

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