Premised on the previous experiences, a realistic person would share in the fear of an average citizen of Oyo State on debt accumulation. Series of debts that were accumulated by previous governments at all levels were with little or nothing as exhibition. Infrastructure remains in deficit while economy wallows in conundrum.
Notwithstanding, one important fact that comes readily to the mind of anyone that has idea about modern economy, especially in this world of globalized enterprises is that taking Loans or Bonds is a neutral phenomenon, but the justification whether good or bad lies in the reason for taking the bond and the personality of the bond taker.
Bond or Loan accrued for concurrent expenditures is a threat to sustainable development, no sane businessman takes loan to pay salaries and pensions, but loans taking for capital projects may be blessing for the present and the future. In reality, no successful businessman can boast that he had never taken a loan or bond before, it is crystally part of the modern economy to do so. Dangote, Otedola and others are customers to banking loans. Another interesting fact is that America is the most indebted country on earth, yet, America is still great.
Coming back to the second factor, the Personality of the loan taker matters a lot in justifying a loan. The person that takes loans or bonds must be far above average in honesty, transparency, sincerity and accountability. A person whose society would trust with resources such as bonds must be a man of his words. His words should always be his actions, then, we can say a loan is progressively taken.
Back to the #100 Bond proposed by Oyo State Government, every lover of progress and development would live above doubt because the Pilot of Oyo State Government has fulfilled the two major conditions needed for a loan to be plausible. The bonds taken by GSM are already tagged with different capital projects that would accelerate economic development in the state, the bond would also rescue the state from infrastructure deficit. No doubt, the reason for the loans are justified.
Projects that would attract Investors, both Local and Foreign are targeted with the loans, Airport is crucial to investors, the state of Ibadan Airport would be upgraded to a modern status, the Circular Road in Ibadan would enable businesses to thrive effectively, investors and Oyo Citizens wouldn’t have needs to be worry about traffic and other road delays. The traders and farmers in Oke-Ogun and Ogbomoso would enjoy the construction of Iseyin-Ogbomoso Road while Akufo Farm Estate that was captured in the Bond would enable agriculture to flourish in a modern way in the State. Many other capital projects were succesfully captured in the Bond of Improvement.
On the issue of Personality of the bond taker, Eng. Seyi Makinde is already made man before venturing into politics, looking at the reality on ground, GSM is living absolutely and farer above average in aspect of Sincerity, transparency, honesty and accountability.
Hope you remember? In an unprecedented way, Governor Seyi Makinde declared his Assets. He did it publicly because he had no skeleton in his cupboard. Here is an evidence of a man with leadership capacity and sagacity. If such a man takes loan, we would have no reason to worry, rather, we are well assured that our treasure is in a safe hand because he acts what he says.
The blessing we have in Oyo State today is that GSM as he’s fondly called is a man of a vision for a mission that is not a fiction but fruition for the situation of our nation.
Ogunwoye Samson Gbemiga
Ogbomoso, Oyo State.
ogunwoyesamson@gmail.com