Former Edo State Governor and Senator representing Edo North Senatorial District, Comrade Adams Oshiomhole, has said the Federal Government’s current deficit budget is responsible for delays in the release of funds for capital projects across the country.

Speaking with journalists in Benin City, the former governor expressed optimism that the funds would be released by December.

“If you follow attentively the debates in the National Assembly, one of the things we approved in the past two weeks or thereabouts has to do with borrowing because this budget is a deficit budget, which means you have to borrow the difference. Until you get that money, you cannot execute,” Oshiomhole said.

He explained that the budget is not strictly based on revenue, noting that before the Tinubu administration came into office, 80 to 90 percent of federal revenue was being used for debt servicing. “In other words, we had not even earned enough to pay salaries, which was why some states and agencies were defaulting. Now, the situation has improved, but not enough for us to carry out sufficient capital projects, and if you don’t do capital projects, the economy can’t grow,” he stated.

Oshiomhole added that the huge debts inherited by President Tinubu were borrowed by previous administrations but are now due for repayment. “So when you hear we are paying X to service debt, these are not debts arising from what he borrowed. After spending on recurrent expenditures, including salaries, not much is left. Now you then have to borrow to ensure that you service what you already owe and have a little surplus to do capital projects. So that is the situation we are in.”

He commended the President for managing borrowing in a way that avoids excessive pressure on the domestic market and the exchange rate. According to him, this approach is responsible for the gradual appreciation of the naira.

“The President is doing everything first to ensure that we do not borrow excessively from the domestic market and that borrowing does not put pressure on the exchange rate, which is why you can see that the naira is appreciating gradually,” he said.

Turning to Edo State, Oshiomhole criticised the immediate past administration of Governor Godwin Obaseki, accusing it of conducting numerous unproductive groundbreakings, including the failed Gelegele Port and abandoned housing projects.

“They performed numerous so-called groundbreakings, Gele-Gele Port that mysteriously shifted into Benin when it rains, housing estates, and many others. They broke the ground so much that Edo almost became an earthquake zone. Fortunately, God designed our soil well,” he said.

Assessing Governor Monday Okpebholo’s one year in office, he said the administration inherited a state that was “abandoned for eight years” but has already delivered visible and verifiable projects.

He pointed to the Ramat Park flyover as a major intervention expected to ease traffic and boost economic productivity in Benin City.

On education, Oshiomhole described the EdoBEST programme as “deceptive,” claiming that most schools lacked electricity and Wi-Fi required for its digital monitoring system.

He accused the previous administration of neglecting public schools and drastically reducing teacher numbers, while praising Okpebholo for rehabilitating long-abandoned schools and improving learning environments.

He also commended the revival of Ambrose Alli University (AAU), Ekpoma, which he said nearly collapsed due to inadequate subvention, noting that the new administration has increased monthly subvention to ₦500 million, helping resolve long-standing academic disruptions.

Similarly, he applauded the restoration of subvention to Edo University, Iyamho, now increased to ₦250 million monthly, describing it as a strategic investment in higher education.

Oshiomhole added that Okpebholo has restored peace to the traditional institution and resolved lingering tensions in the Benin Kingdom.

He said that the governor’s first year in office has brought relief across the state through road reconstruction, rejuvenation of abandoned institutions, and improved governance. According to him, Okpebholo’s humility, firm leadership, and willingness to hire and fire when necessary have restored discipline in government.

He concluded that the governor’s achievements speak for themselves, noting that “action speaks louder than words.”