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Godwin Obaseki and Monday Okpebholo
The Edo State Asset Verification Committee has reported that the administration of former Governor Godwin Obaseki left behind a debt profile of N682.57 billion.
Chairman of the committee, Ernest Umakhihe, presented the findings to Governor Monday Okpebholo on Wednesday, revealing financial irregularities and questionable contract awards under the previous administration.
A review of the committee’s 3,900-page report showed that the debt inherited by Obaseki’s government in 2016 was N84 billion, meaning the state’s liabilities increased by over 900% during his tenure.
The committee said there were noticeable anomalies in the way contracts were awarded in the last administration and urged that all the contracts and Memorandum of Understanding be reviewed.
According to the report, the state government invested N19 billion in an ongoing hotel project but reportedly owns just 20%, while a company allegedly established in 2024 controls the remaining 80% despite not contributing any funds at the time of the agreement.
The report also noted that the past administration awarded 22 contracts worth N22 billion for ICT-related projects to 18 companies, with N17 billion paid as of November 2024.
The report also raised concerns over non-state actors managing the e-governance platform’s backend.
The committee flagged irregularities in several projects, including the modular refinery, the Museum of West African Arts, and the renovation of Stella Obasanjo Hospital, which was commissioned without being completed despite costing nearly N1 billion.
The report claimed that of the $75 million World Bank funding for basic education reforms, only $5 million reached the Edo State Universal Basic Education Board, with just $2.5 million accessed before the project ended. The remaining $70 million was reportedly managed directly by Obaseki’s office under a “Performance for Results” arrangement.
The committee recommended, among others, forensic analysis and investigation on ownership of companies, enterprises, properties in Abuja, Lagos and other locations where Edo State had prior interest before Godwin Obaseki’s tenure, prosecution of indicated ex-officials, the blacklisting of indicted companies and full prosecution of contractors that ran afoul of the laws of the state and the full investigation of the Edo BEST programme, particularly the utilisation of the $75m from the World Bank.
Receiving the committee’s report at the Government House in Benin City, Okpebholo commended the team for their dedication and assured them that their recommendations would be acted upon.
“I appreciate the committee for a job well done and the time invested in this exercise. I understand the challenges you faced, yet you successfully carried out this crucial assignment. Rest assured that your findings and recommendations will be implemented appropriately,” the governor stated.
Umakhihe, on his part, emphasised that the findings were not just a reflection of past actions but a call to action for the future.
But when contacted, the Special Adviser to Obaseki as governor on Media Projects, Crusoe Osagie, denied the allegations, saying the committee was deliberately misinforming the public and misinterpreting what transpired in the Obaseki administration.
“For the benefit of the people of Edo State and the public, every activity of the government was in the report of the transition committee, which was handed to the new government. Everything raised in their so-called verification committee is nothing but falsehood and in the coming days.
“We will publish everything item by item for the people of the state to see. The Okpebholo government is in possession of everything that the Obaseki government did and what the committee is claiming is all false,” he said.
