The Edo State Assets Verification Committee, led by Ernest Umakhihe, has reported a N682.5bn debt left by the Obaseki administration.
The committee also flagged irregularities in contract awards and recommended a full review of all contracts and MOUs.
Obaseki’s media adviser, Crusoe Osagie, dismissed the findings, accusing the committee of spreading false information. He vowed to publish a detailed rebuttal, asserting, “The new government has all the records, and the committee’s claims are false.”
The committee’s 3,900-page report revealed a 900% increase in debt compared to the N84bn inherited from the Oshiomhole administration. It also raised concerns over a N19bn state-funded Five-Star Hotel project, in which the state holds just 20% ownership.
Additionally, the panel found N22bn worth of ICT contracts, with N17bn already paid. It questioned the management of the state’s E-Gov platform by non-state actors despite significant consultancy investment.
The report also highlighted controversial projects, including the modular refinery, the Museum of West African Arts (which cost the state over N5bn), and the unfinished renovation of Stella Obasanjo Hospital.
The committee recommended a forensic investigation into company and property ownership, prosecution of implicated officials, and an inquiry into the EdoBEST programme.
Governor Okpebholo praised the committee’s work and promised to act on its recommendations. Committee chair Umakhihe stressed that the findings called for urgent action on mismanagement and corruption.
