In one of his essays, American author, Wilfred Peterson wrote: “big thinking precedes great achievement.” With the benefit of hindsight, Rauf Aregbesola has left his marks on history and his successors will have to do a lot to rival his achievements. And, as the governor marks six years as Osun State helmsman, an attempt at appraising his stewardship is, in my view, not out of place.
 
 

 
Let’s start with the Education sector where Aregbesola’s rich, nurturing, and healing contributions are well known to students of political history. In the last six years, his administration has successfully completed about 100 out of the promised 170 mega schools. Others, though delayed due to obvious reasons, are more than 60% completed. With the employment of about 7,350 teachers, professionally trained and equipped to improve learning in public schools; and with the retraining of more than 5000 others, one is not left in doubt about the “remarkable improvement in the pass rate of students presented for the West African Secondary School Certificate Examination (WASSCE)from 6.86% in 2007 to 46.3% in 2016.”
With the creation of Osun Education Quality Assurance and Morality Enforcement Agency, Aregbesola’s government has also succeeded in restoring high quality education, discipline and morality into our schools. And, apart from being the only state in the country that has so far been providing free, nutritious lunch for its primary school pupils through its now-repackaged Osun Elementary School Feeding and Health Scheme, the programme, alongside others such as youth empowerment and elderly welfare schemes, have been adopted by the Federal Government.
Pundits will agree with me that, in a recessed economy such as we have found ourselves, diversification is one sure way out of the woods. Aregbesola creatively recognizes the importance of agriculture as the ‘future of Osun State’. Little wonder he has visited no fewer than six farm settlements in recent times. In simple language, a visit of this size and shape will not only aim at reviving the glory of the sector, it is also an avenue to get first-hand information from the farmers with a view to improving the revenue base of the state. It is also in a bid to make Osun State the food hub of the Southwest region that 20 of its youth were recently sent to Germany, a country renowned for her industrial and technological edge, to learn the science of mechanized farming.
At a time like this, we need to challenge those who claim to have been championing our cause to reveal to us the structure and the nomenclature of our cause. Quite frankly, I’ve always wondered why a 25-year old state like Osun could not boast of at least 25 first-rate, world-class industries! In truth, that was the sorry state of the state before Aregbesola changed it for good. RLG Technology Institute, Ilesa; Omoluabi Garment Industries, Osogbo; and Bola Ige Mechatronics Institute, Esa-Oke among others, have not only come to stay, they, alongside the once-moribund-but-now-revived Cocoa Products Industry in Ede are now adding to the state’s revenue base.
Again, we shouldn’t forget in a hurry his bold step in according Osogbo its pride of place in the comity of state capitals in Nigeria even as he deserves commendation for his intervention in local government administration in the state. With the creation and successful take-off of 61 Local Council Development Areas (LCDAs); 3 Area Offices; and 2 Administrative Offices from the former 31 Local Government Areas, Aregbesola has succeeded in bringing government closer to the people, apart from the encouragement of even development of towns and villages within the state and positive improvement in the state’s revenue base.
Kudos to this visionary leader for the importance his government attaches to the socio-economic revivification and huge infrastructural development of the state! Aregbesola’s quality leadership could also be felt in the rehabilitation and equipping of government hospitals with state-of-the-art facilities. Apart from the building of Diabetes Centre at Ede, in collaboration with some Non-Governmental Organizations (NGOs), state hospitals all over the state were also upgraded in line with global standards; and procurement of drugs from our hospitals have become so simplified that patients can now walk in and get drugs without the usual bottlenecks hitherto attached to the process.
Welcome ‘OponÌmò’, the stand-alone, e-learning device, which has unfortunately become an object of needless, benighted controversies. While Aregbesola’s traducers characteristically see it as yet another in the series of successive governments’ phony projects though which funds are senselessly siphoned into private pockets, it must be noted that, economy-induced challenges notwithstanding, not less than 23,000 units of the customized computer were distributed to pupils in Osun State-owned schools during the first phase while the second phase which took effect in November 2015 is still in progress. As we speak, those already retrieved from outgone students are undergoing reconfiguration to give students newly-promoted to SSS 3 class the equal opportunity of using the ‘Tablet of Knowledge’.
Democracy hath no fury than a people abandoned! Give it to the astute administrator who has succeeded in building a productive and workable system. Today, issuance of Certificate of Occupancy (C of O) goes for as low as N30,000.00 as against N100,000.00 for a piece of land measured 15 by 30 metre (50 by 100) and it can be got within 3 months. We have the ‘Omoluabi Scale’ (Osunwon Omoluabi), put in place, principally, to eliminate cheating and leverage on the control of commodity pricing while not overlooking its advantageous health implications.
The politically-motivated Hijab narrative! The economy-induced salary palaver! The storm-in-a-teacup merger of schools! The ridiculously over-bloated Osun debt profile! And, of course, the alleged Islamization agenda! As Aregbesola’s government is midterm and sort of winding down, one cannot but expect more of distracting surprises from closest allies, distressing betrayal from false friends, willful nonsense from hitherto party members, obsessive egotism from the narrow, uneducated mind, deceitful drama from the weird, stunningly ignorant whose portion is in beliefs that reject persuasion; and frustrating innuendos from the “foxes, the little foxes” scandalously scheming to pitch the governor’s administration into turmoil. In any case, these are some of the hypocritical ingredients of the ‘nothing-goes-according-to-plan’ political broth and only focussed governance can serve as antidote!
In 2013, Osun emerged with lowest unemployment rate in Nigeria! But how come we are where we are and where do we go from here? The truth, the bitter truth is that Nigeria’s current economic situation and its attendant complications are signals sufficient enough to warn this notoriously extractive, not productive, system that something needs to give before it is too late! As things stand, no fewer than 33 states are struggling to pay their workers’ salaries and more than 25 of them are prisoners to the bailout loans given to states earlier in the life of the Muhammadu Buhari-led administration. Should Federal Government deem it fit to cancel these loans, allocations accruing to states
from the Federation Account will heave a sigh of relief and Osun will be better for it. Furthermore, with right regulations and incentives, coupled with efficient monitoring of loans disbursement to farmers, it’s just a matter of time before agriculture regains its lost glory in the state.
Similarly, if the national government can actualize its promise of employing 200,000 youth before the year runs out, its trickle-down effect will in no small measure impact on the state’s economy. Over and above all, eventual formation of state executive council and constitution of local government administration will go a long way in creating the prosperity we desire in Osun.
All said, with Aregbesola’s honourable intentions, innovative interventions and crowning achievements, won’t we rather agree with Anthony Udofia that “it is globally acceptable to borrow money to do capital projects”?
May powers and personalities assigned to derail Osun’s beautiful destiny, scatter!
 
abiodun KOMOLAFE
KOMOLAFE writes in from Ijebu-Jesa, Osun State, Nigeria (ijebujesa@yahoo.co.uk)
abiodun KOMOLAFE,
020, Okenisa Street,
PO Box 153,
Ijebu-Jesa, Osun State.

Governors in the South-West geopolitical zone on Monday held the South-West Economic Summit at the Oyo State Governor’s office in Ibadan, where they all agreed to play common politics of development to aid economic growth and development in the zone.

The governors present at the meeting were the host Governor Abiola Ajimobi of Oyo State, Ibikunle Amosun of Ogun State, Ayodele Fayose of Ekiti State, Akinwunmi Ambode of Lagos State, Rauf Aregbesola of Osun State and Olusegun Mimiko of Ondo State, who was represented by the Secretary to the State Government, Rotimi Adelola.
The meeting, which had the theme, ‘South-West Governors Economic Forum,’ was convened by Ajimobi.

Speaking on behalf of the governors at the end of the forum, Fayose said that the meeting was called to discuss several issues of common concerns to the geopolitical zone in view of the challenging economic circumstances confronting the nation and its constituent parts.
He said the governors had agreed to start playing politics of development, go beyond their political differences and put the Yoruba people first in their endeavour.
Fayose added that the forum also agreed to use the collaboration to improve on infrastructure, security, commerce and other areas in the interest of the geopolitical zone. He said that all the governors had agreed that regional integration was the best way forward for the Yoruba race.
Fayose said, “This meeting was called to discuss several issues of common concern to the geopolitical zone in view of the challenging economic circumstances confronting the nation and the people.
“We have agreed to start playing politics of development by going beyond our political differences and putting our people and the geopolitical zone first in all things. We also agreed to use this collaboration to improve on the infrastructure, security, commerce and beyond in the interest of the region.”
Also speaking after the meeting, Ambode emphasised the governors’ decision to put political differences apart for the interest of regional growth and welfare of the people.
“We have declared here that irrespective of our political differences, our people must come first. Overall, we must move our people in the direction of prosperity. The prosperity of the region is in the best interest of the states. It is more about the people and not about politics,” said the Lagos governor.
Ajimobi said the commitment and presence of the governors were testimonies to the importance they had placed on the common challenges and problems confronting the people of the region.
Recounting the present economic predicament that had befallen the country and its effect on state governments’ inability to pay workers salaries among others, the governor noted that the region with all its potential and resources had no business with underdevelopment, poverty and low quality of life.
The next edition of the forum will be hosted by Ekiti State in 2017, where the governors are expected to review development in the South-West since the last meeting.

It is almost six years that Osun State Governor, Ogbeni Rauf Aregbesola has been in the saddle. He was returned to office in November 27 2014, for a second term. Like in other states, Aregbesola met the state in debt with abandoned projects. He however took only sukuk loan at zero percent interest rate for 11 High Schools project that have direct impact on the lives of the people. He has worked on roads, flyover and airport construction.
From Debt Management Office (DMO) 2015 Annual Report, the total public debt outstanding between 2008-2015 for external stock rose. The total debt service the same period saw the percentage of external debt service drastically reduced from 11.46 per cent to 5.96 per cent, while the percentage of domestic debt servicing grew drastically, increasing the cost of the total debt service since the cost of domestic borrowing is atrociously higher than the cost of external borrowing and this is Aregbesola’s strategy of managing Osun’s debt.
 

 
It’s an established fact that the willingness and ability to borrow do not automatically translate into economic growth. If you agree with this fact, how productive are the country’s recent borrowings?  Governor Aregbesola has observed that our internal debts continue to represent more than two-thirds of Nigeria’s external debt profile, when the cost of servicing domestic debts is ridiculously far more expensive than servicing external debts.
The Governor has questioned government’s continuous borrowing internally when doing so results in insufficient funds, skyrockets the cost of borrowing and above all, crowds out the real sector from the money market? Shouldn’t the high cost of domestic borrowing override whatever are the assumed benefits? Since both London Interbank Offer Rates (LIBOR) and the US Treasury Bonds rates offer far better interest rates for sovereign borrowings, why have we continued not to take advantage of cheaper interest rates?
Osun State raised a sukuk bond worth N10b (some $62m) from the capital market to fund educational development – the first of such by Africa’s biggest economy. Governor Aregbesola is aware that Islamic financial instruments such as sukuk, which attracts zero percent interest has been used to finance infrastructure projects in countries like Malaysia and Indonesia, and in the Middle East, and could attract investors from such countries.
He knows that Islamic finance requires a clear link with real economic activity and transactions have to relate to a tangible, identifiable asset, which comes in handy in the case of infrastructure financing. The governor’s strategy in managing Osun Debt favoured the issuing of a sovereign sukuk, which will send a much-needed positive message to the market amidst the negative investor sentiment that persists currently. He expressed confidence that Nigeria’s maiden sovereign sukuk, which will be oversubscribed as both domestic and foreign investors have appetite for exposure to Nigeria. He therefore urged the DMO to take advantage of this unique opportunity to make a mark on the sukuk market in spite of the challenging times.

In a bid to secure debt relief for inherited debt that will free up funds to meet financial obligations to workers, contractors and other debtors, Osun and other states have topped the list of 11 states, which have issued Federal Government bonds (FGN Bonds) to 14 commercial banks under a debt-restructuring programme facilitated by the Federal Government. The 36 states of the federation had approached President Muhammadu Buhari in June to ask for a bailout that would enable them pay salary arrears to their employees and meet other pressing obligations.
Seizing on the opening, 22 states of the federation have applied to the Debt Management Office (DMO) for their debts to be restructured into FGN Bonds. The Director-General of the DMO told the Nigeria economic council that based on the approval of the president on the plan to restructure bank loans of the states into FGN Bonds in order to address their fiscal imbalance, 22 states submitted reports and applied for restructuring as at August 19.
Governor Aregbesola has studied Osun low multilateral debt, which is the total amount of money that Osun State owes to international financial institutions, such as the World Bank and the International Monetary Fund (IMF). The state only took sukuk bond to build 11 High Schools and no other loan. These financial entities insist that the repayment of multilateral debt becomes priority over any other outstanding loans.
The governor equally studied Osun State bilateral debt, which is a simple loan arrangement between Osun State and a single lender. Such loans are called “bilateral” because there are only two parties to the loan, each with an obligation to the other: One will provide a specific amount of money under the terms of the loan agreement, and the other will repay the money as provided for in that same agreement. Osun sukuk is under multilateral debt. According to DMO, the country’s public debt-to-Gross Domestic Product remained sustainable as a result of the insightful management of the debt portfolio, even in the midst of crude oil price slump.
Osun debt continues to be sustainable in line with IMF debt sustainability threshold, despite all these volatilities in the international capital market and the collapse of oil prices. The people of Osun State have nothing to fear over the level of Osun debt and its management, but should see this period as the time to work harder to grow the economy. Osun Sustainable debt has allowed the state to meet its current and future debt services obligations in full, without recourse to further debt relief or rescheduling, avoiding accumulation of arrears, while allowing an acceptable level of economic growth or without compromising growth. Osun has met IMF debt sustainability threshold, which is a measure of Osun solvency, that is, to ensure that accumulated debts are serviced without defaulting and she is able to sustain her debt servicing overtime. Generally, Osun has a borrowing space under the International Monetary Fund (IMF) debt sustainability threshold of 45% for which Nigeria and other low-middle income countries are.

SINCE he was sworn-in, Governor Aregbesola had publicly announced the need to reduce the recurrent expenditure so that more money would be made available to capital spending, which is critical to growing and diversifying the state’s economy. How far has Osun government succeeded in making these necessary cuts; and where exactly have these cuts been made in this effort to reduce recurrent expenditure? In other words, based on real amount spent on capital expenditure, how much reduction was made from 2011- 2016?
Governor Aregbesola introduced sukuk as a debt management strategy that the percentage of external debt service drastically reduced, while the percentage of domestic debt servicing grew drastically, increasing the cost of the total debt service.
The opposition parties in Osun State had claimed that Osun debt profile is not sustainable but the Director General of DMO has proved them wrong. DMO and others are working hard to introduce Sukuk in Nigeria; The Director General of DMO said he was delighted that Osun took the initiative and helped introduce it in Nigeria. By this, Osun is one of the best states in public debt management, he said.  Nwankwo, who did not give the figure on the actual debt explained that the state needed to be encouraged in term of the management of debt because it had not borrowed beyond its capacity. According to the Director General, the nation’s debt GDP ratio has fallen from 22 per cent to 13 per cent. He said, “Our debt is sustainable because the GDP is much lower now. However, in spite of that, government will continue to be very prudent, conservative in its spending.Fanoro is Special Assistant (media) to Osun State Governor.
Aregbesola is well grounded in managing finances and has brought this to bear in the manner he has gone about financing massive infrastructure in Osun as other states sleep away over the recession. Aregbesola’s proactive thinking has taken Osun higher over his six years and these shows that governors all over must become thinkers and not just come in to do things the normal ways. Innovation is the way to go and Ogbeni is the example.

The Governor of the state of Osun, Ogbeni Rauf Aregbesola has again called on traditional rulers to ensure security of lives and property of people in their domains.
The Governor gave the charge while presenting the instrument of appointment to Obaala of Ila Orangun, Obaala Samuel Olufemi Otitoola at the event that was held at the Palace of Orangun of Ila.
 

 
 
The Governor ,who was represented at the event by the Secretary to the State Government, Alhaji Moshood Adeoti said traditional rulers are the custodians of culture and custom of their people saying they know their people better than the security operatives.
Governor Aregbesola lauded the humility and kindness of Orangun of Ila Orangun, Oba Wahab Kayode Oyedotun Bibire l for his subjects. He described the referred monarch as peace loving and progressive saying government will not do anything to undermine his authority in his domain.
The Council Manager of Ila Central Council Development Area, Mr Afolabi Fapounda thanked the Governor on behalf of the people of the town for creating Local Council in Ila saying the action will boost the economy of the people of the area.
The Orangun of Ila Orangun, Oba Wahab Kayode Oyedotun Bibire I appreciated the government for elevating one of his Chiefs to part ii status. He said Obaala Samuel Otitoola is not Obaala of Oke Ejigbo but Obaala of Ila Orangun.
In his welcome address, a community leader ,Prince Oye Agboola described the new Obaala as a very quiet, brilliant and intelligent person who is poised to work for the development of Ila Orangun.
Obaala Samuel Olufemi Otitoola thanked the Governor for the honour done him promising to rededicate himself to the development of Ila Orangun. He appealed to the people of Ila to continue to support and cooperate with government.
Other personalities that graced the Occasion were the Olufon of Ifon, Oba Al Marufu Mogbagbeola, the Permanent Secretary of the Ministry of Local Government, Chieftaincy, Water Resources, Rural and Community Affairs, Mr Muftau Oluwadare as well as prominent sons and daughters of Ila Orangun.

The Governor of the State of Osun has reiterated his commitment to care for people with disability irrespective of their status, by empowering them with means of livelihood for survival in the society.
This was made known by Governor Rauf Aregbesola, who was represented by former Special Adviser on Youths and Sports, Comrade Biyi Odunlade at the closing ceremony on skills acquisition programme for persons with disability.
 

 
The event took place at Osun Rehabilitation Centre, Ilobu and was organised by the State Ministry of Women, Children and Social Affairs.
The Chairman ,House Committee on Women, Children and Social Affairs, Honorable Isreal Aloba also speaking at the ceremony, encouraged the beneficiaries not to be static, but develop more on the skills acquired. He then affirmed the support of the members of the State House of Assembly to the welfare of people with disability.
Earlier in her welcome address, the Permanent Secretary, Ministry of Women, Children and Social Affairs, Pharmacist (Mrs.) Omolara Ajayi congratulated the beneficiaries for being empowered by Governor Rauf Aregbesola despite the economic recession in the state.
She described the gesture of Governor Rauf Aregbesola as passion to bring special people with disability out of the shackles of poverty and erase stigmatization that is often attached to their status.
The beneficiaries were selected from Local Council Development areas, area offices and Administrative Offices across the state.

The executive governor of the state of Osun Ogbeni Rauf Aregbesola has urged teachers in the state to create and engage students in secondary schools in extracurricular activities so as to prevent them from involving in nefarious activities.
The Governor said this during the grand finale of a debate organised by Segun Adegoke Youth and Development Foundation (SAYDEF) for secondary school students in the state held at the Ikire campus of Osun State University.
 

 
 
Aregbesola who was represented by the Executive Secretary of Osun Education Quality Assurance and Morality Enforcement Agency, Dr Ayodele Owoade urged the teachers to be committed to their jobs and assured them that the arrears of their salaries would be paid.
The governor commended the founder of the SAYDEF, Mr Segun Adegoke for his positive impact on the youth and his contributions to the betterment of the lives of other people in the state.
At the end of the debate, Regina Mundi Girls Secondary School, Iwo emerged the overall winner. Greys International School, Ede won the second position while Deeper Life International School, Agunbelewo Osogbo came third. The winners got cash prize and learning materials.
Owland National School, Olupona came 4th in the competition while Fatimah High School, Ikire came 5th and they also received cash and other consolation prizes.
The founder of the SAYDEF, Mr Segun Adegoke said he set up the foundation to motivate youths and encourage them to engage in intellectual activities.

The Bank of Industry and Oduduwa Foundation have sealed a N1bn financing scheme for the benefit of small businesses in Osun State as part of measures to address youth unemployment and poverty in the state.

Under the MoU, the bank will provide loans to youths and businesses in Ile-Ife, as well as other beneficiaries outside the community.
According to the bank, the fund will be made available for on-lending to entrepreneurs within the agric, agro-allied, solid minerals and services sectors at an interest rate of 7.5 per cent.

A statement quoted the Acting Managing Director, BoI, Mr. Waheed Olagunju, as saying during the signing of the agreement in Ile-Ife recently, that a substantial part of the loan would be disbursed to women, youth and businesses showing high potential for job and wealth creation along the value-chain of the identified sectors, as well as capacity to repay the loans.
He said, “We have been partnering multinational and corporate companies, but today, we are collaborating with traditional rulers. These are people who have access to the grass roots. Partnering them is a way of ýdemocratising entrepreneurship.
“We identify areas in which communities have comparative advantages and invest in them. The beneficiaries will be selected using the global best practices.
“For this edition, about 15 to 20 per cent of them will be those who deal in local production, especially value-addition. We are working with the Entrepreneurship Development Centre of Obafemi Awolowo University, Ile-Ife. Applications are expected to be submitted and a joint committee of the BoI team, the Oduduwa House and OAU team will access it. They are to be monitored by members of the committee and elders, especially the traditional rulers.”
Olagunju added that the first batch of potential beneficiaries had been trained by the EDC, as the bank was alfready building capacity of entrepreneurs before disbursing the funds to them, adding that at least 5,000 youths would benefit from the initiative.
On his part, the Ooni of Ife, Oba Adeyeye Ogunwusi, emphasised the need to get youths empowered, saying that was necessary for the nation’s continuous growth.
He challenged monarchs across the country to be dedicated to youth development in their communities.
Oba Ogunwusi said, “If the youths of today are empowered, many generations will benefit from them and poverty will be abolished. Today’s event is another giant step in the history of Ile-Ife.
“We are moulding the future of our youths in the areas of agriculture and agro-allied industry. I put a challenge to other monarchs to engage in community partnership. We should stop relying on government.”

The State Programme Officer of Osun School Feeding and Health Programme (O’MEAL), Mrs Olubunmi Ayoola has charged the food vendors in the Government Elementary Schools across the State to serve pupils with quality and nutritious food in line with government directives.
 

 
Mrs Ayoola made this charge while addressing the food vendors at a workshop in Osogbo and Ilesa.
She said Ogbeni Rauf Aregbesola’s administration has invested so much in the feeding of pupils in public elementary schools and this has manifested in the increase in the enrolment of pupils in the schools.
Mrs Ayoola explained that, the inclusion of Orange Fleshed Sweet Potato (OFSP) in the menu is to add more value and increase more vitamin A intake in pupils in public schools.
She therefore advised the food vendors to always serve fruits as provided in the menu table of the pupils.
Highlight of the activities was the demonstration of cooking of Orange Fleshed Sweet Potatoes .

The State Operation Coordinating Unit of Youth Employment and Social Support Operation, Bureau of Social Services has started releasing the Single Register of poor and vulnerable people for public works in the State after clearance from the World Bank.
 

 
The Public Workfare component of YESSO had collected its list of beneficiaries based on selection criteria as entrenched in the operation manual of YESSO. The Public Workfare Program Implementation Unit led by Mr. Gbenga Odulaja came to SOCU office with his team in April and July 2016, to mine from the Single Register for the first and second phases of Community-Based Targeting respectively.
Beneficiaries are aged between 18- 35 yrs with not more than 0-9 yrs  of education
There are 1,088 eligible persons spread across 303 communities in 12 LGAs covering the 3 Senatorial Districts.
The beneficiaries were selected from households nominated as the poorest by ALL stakeholders in each community viz: Elders Group, Women Group & Youth Groups
Majority are female & about 30% suffer from one handicap or the other