Governor Ahmed Usman Ododo-led Kogi state government has fully liquidated N98.8 billion in debts inherited from previous administrations.
This was made known after the State Executive Council meeting held in Lokoja on Monday.
Briefing journalists after the meeting, the Commissioner for Finance, Budget and Economic Planning, Asiwaju Asiru Idris, announced that the Ododo administration has fully liquidated N98.8 billion in debts inherited from previous administrations within just 15 months.
The breakdown includes: N8 billion in bonds from the Idris Wada administration, N50.8 billion salary bailout from the Yahaya Bello administration, N10 billion ECA-backed infrastructure loan, N15 billion infrastructure loans from Zenith Bank and another N15 billion from UBA Plc.
“This is a landmark achievement. His Excellency Governor Ododo has demonstrated fiscal discipline and commitment to economic recovery. Within 15 months, we have cleared N98.8 billion in inherited debt,” Idris said.
He added that Fitch Ratings has upgraded Kogi State’s credit rating from ‘B-’ to ‘B’, with a stable outlook, citing prudent financial management. As of September 30, 2024, the state’s debt profile stands at N40.5 billion, placing it on a strong path to debt sustainability.
Kogi State Executive Council reaffirmed its commitment to grassroots development, economic sustainability, and infrastructural growth.
Governor Ahmed Usman Ododo charged government officials to remain close to the grassroots and ensure constant engagement with the people, noting that such connection is key to responsive governance.
“We are in government to serve the people, and that means staying connected to their needs and aspirations,” the Governor was quoted as saying during the meeting.
As part of efforts to boost the local economy, the Governor also directed all government officials to wear Made-in-Kogi fabrics as a show of support for indigenous industries. He encouraged Kogites to take pride in local products and lead a cultural and economic renaissance from within.
In a separate briefing, the Commissioner for Information and Communications, Hon. Kingsley Femi Fanwo, said the administration is committed to making governance more visible and impactful.
“Governor Ododo is driving a government that listens, learns, and leads from the grassroots. His directive on Made-in-Kogi fabrics is a strategic move to grow our economy and export our identity,” Fanwo said.
On infrastructure, Fanwo disclosed that perimeter fencing at the Confluence University of Science and Technology (CUSTECH), Osara is 90% completed, while both male and female hostels have been completed and are already housing students. Similar projects at the Kogi State University, Kabba, are progressing satisfactorily.
To improve public safety, the Council also approved a bill to restrict the movement of heavy trucks during peak hours. Another bill was approved for the establishment of the Kogi State Agency for Climate Change as part of a forward-thinking response to global environmental challenges.
