The Edo State chapter of the Peoples Democratic Party (PDP) has rejected claims by the state government that the Radisson Hotel project saddled Edo State with a ₦25 billion debt, describing the allegation as misleading and politically motivated.
The controversy has pitted the immediate past administration of former Governor Godwin Obaseki against the current government led by Governor Monday Okpebholo, following comments by the Commissioner for Information and Strategy, Kassim Afegbua.
Afegbua had said on Wednesday that the state incurred a ₦25 billion liability on the Radisson Hotel project initiated under Obaseki’s administration, adding that the funds were sourced from the capital market and are being repaid by the state. He also claimed the government is currently paying about ₦385 million monthly from its internally generated revenue under an irrevocable payment order.
The project has drawn increased attention after a panel of the Edo State House of Assembly summoned Obaseki as part of an ongoing probe. The former governor has denied any wrongdoing, accusing the present administration of pursuing a political vendetta.
Responding on Saturday, the PDP, through its Publicity Secretary, Dan Osa-Ogbegie, accused the Okpebholo-led government of what it described as a “politics of destruction” aimed at discrediting projects executed under the previous administration.
Osa-Ogbegie dismissed Afegbua’s claims as “a cocktail of ignorance and mischief,” insisting that the Radisson Hotel was structured as a Public-Private Partnership. He said Edo State’s ₦2 billion contribution represented seed equity meant to de-risk the project and attract private investors, not a debt burden.
According to the PDP, additional funds referenced by the government were loans advanced to a Special Purpose Vehicle for construction, with repayment tied to the hotel’s future operations. “This is not plunder; this is development finance,” Osa-Ogbegie said, adding that such financing models are standard in modern infrastructure development.
The party further maintained that Edo State retained equity in the hotel, denied allegations that the asset was sold cheaply or handed to cronies, and stated that Obaseki had no direct or indirect ownership interest in the project.