Delta State Governor Saves N205 Billion, Reduces Debt Profile
The People’s Democratic Party (PDP) in Delta State has announced that Governor Sheriff Oborevwori has achieved significant financial efficiency, saving over N205 billion and reducing the state’s debt profile by N180 billion. This feat has drawn criticism from the All Progressives Congress (APC), which claims that the PDP is mismanaging the state’s finances.
According to the PDP, the APC is attempting to misinform the public about the debt management measures being undertaken by Governor Oborevwori’s administration. The PDP emphasized that the APC wants to see the state run like the national economy, which has been mismanaged since 2015, resulting in heavy borrowing and debt servicing.
The PDP noted that Governor Oborevwori’s administration is determined to manage Delta into a debt-free state. The party highlighted that the increase in oil production output, especially in Delta, has led to increased allocation to the state, and the governor is focused on managing the state economy within its means.
In a statement, the PDP Secretary, Engr. Dan Ossai, disclosed that the APC is quarreling with the achievements in financial management of the state. The PDP also accused the APC of pretending not to know the origin and truth about the debt profile of the nation and states.
The APC-led federal government has been criticized for its reckless borrowing, which has led to a situation where 97% of Nigeria’s national revenue is devoted to debt servicing. The government has also been accused of poor fiscal and monetary policies, which have caused inflationary difficulties across the nation.
In 2021, the former Minister of Finance under President Muhammadu Buhari, Zainab Ahmed, admitted that revenues were low and federal allocations to states and local governments were also low. The current Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has also painted a grim picture of how the APC mismanaged the national economy from 2015 to 2023.
The PDP described the APC’s recent release as a "shameless act of its characteristic duplicity" and emphasized that it is "misguided propaganda" to misinform the public about the debt management measures being undertaken by Governor Oborevwori’s administration.
The party urged the public to be aware of the truth about the debt profile of the nation and states and to reject the APC’s attempts to mislead them.
