Nigeria, Nov. 11 -- Osun State Governor, Ademola Adeleke, on Tuesday, denied taking any foreign loan since taking office in November 2022, following a Debt Management Office (DMO) update revealing a rise in the state's debt profile.

Mr Adeleke attributed the increase in the state's external debt to repayments and obligations arising from loans obtained by his predecessor.

The governor's denial followed a DMO report showing that Osun's external debt stock increased from $75.14 million as of December 2024 to $101.70 million as of 30 June 2026.

The figures represent an increase of approximately $26.56 million or 35.3 per cent increase within 18 months.

In a statement issued on Tuesday by his spokesperson, Olawale Rasheed, Mr Adeleke blam...