In a remarkable display of fiscal responsibility, the Kogi State Government has announced the clearance of a staggering N98.8 billion in debt within the first 15 months of Governor Ahmed Ododo’s administration. This significant achievement was revealed by the Commissioner for Finance, Budget, and Economic Planning, Asiwaju Idris, during a press briefing following the State Executive Council meeting in Lokoja.
According to Idris, the liquidated debt was inherited from previous administrations and includes a breakdown of N8 billion in bonds from the former Idris Wada administration, as well as N50.8 billion in salary bailouts from the last administration of Yahaya Bello. Additionally, the state has cleared N10 billion in ECA-backed infrastructure loans, N15 billion in infrastructure loans from Zenith Bank, and another N15 billion from UBA Plc.
Governor Ododo’s administration has demonstrated exceptional fiscal discipline and commitment to economic recovery, as evidenced by this landmark achievement. The governor’s efforts have not gone unnoticed, as Fitch Ratings has upgraded Kogi State’s credit rating from ‘B-‘ to ‘B’ with a stable outlook, citing prudent financial management.
The Commissioner for Information and Communications, Kingsley Fanwo, also spoke about the governor’s commitment to grassroots development, economic sustainability, and infrastructural growth. Fanwo emphasized the importance of government officials remaining connected to the people and their needs, stating that this connection is key to responsive governance. The governor has also encouraged government officials to wear Made-in-Kogi fabrics as a show of support for indigenous industries, promoting a cultural and economic renaissance from within.
In terms of infrastructure, significant progress has been made, with the perimeter fencing at the Confluence University of Science and Technology (CUSTECH) nearing completion and hostels for male and female students already housing students. Similar projects at the Kogi State University, Kabba, are also progressing satisfactorily. Furthermore, the Council has approved a bill to restrict the movement of heavy trucks during peak hours in Lokoja metropolis, enhancing public safety. Another bill has been approved for the establishment of the Kogi State Agency for Climate Change, demonstrating the administration’s forward-thinking approach to global environmental challenges.
The Ododo administration remains committed to making governance more visible and impactful, with a focus on serving the people and staying connected to their needs and aspirations. This significant debt clearance is a testament to the governor’s dedication to economic recovery and prudent financial management, setting a positive precedent for the state’s future development.
