Dr. Tunji Ogunyemi, an economist at Obafemi Awolowo University in Ile-Ife, has cautioned Osun State Governor Ademola Adeleke against using bank loans to pay the wages of the state’s government officials.
Ogunyemi advised Adeleke to pay wages using funds already in the state’s coffers rather than borrowing money from banks.
The Osun Inland Revenue Service, or OIRS, the state’s internal revenue agency, should be used to create additional income rather than borrowing money to pay wages, according to Ogunyemi in an interview on the radio heard in Osogbo on Friday.
Borrowing must stop immediately, and Osun must never borrow money to pay employees’ salaries. You don’t go to the bank and borrow money to pay salaries; you only pay salaries out of what you already have. It ought to never occur, he remarked.
Additionally, he advised Adeleke to speak with Adegboyega Oyetola, his predecessor, to learn how he managed to pay Osun workers for four years without taking out any loans.
Politicking has concluded. The Governor needs to talk to Oyetola and ask him how he managed to lead Osun State through that difficult time without the state falling bankrupt.
Adeleke need to ask Oyetola how he accomplished his miracle, he said.