By Olaitan Ibrahim
The Kogi State Government has announced that it has paid off a total of N98.8 billion in debt within the first 15 months of Governor Usman Ododo’s administration.
This was confirmed on Monday by the State Commissioner for Finance and Economic Planning, Ashiwaju Ashiru Idris, during a press briefing following the Executive Council meeting at the Government House in Lokoja.
According to Idris, the debt settlement includes N8 billion in bonds inherited from the Idris Wada administration, a N50.8 billion salary bailout from the previous government, a N10 billion infrastructure loan backed by the Excess Crude Account (ECA), and two separate N15 billion infrastructure loans from Zenith Bank and UBA Plc.
Idris described this repayment as a landmark achievement, crediting Governor Ododo’s fiscal discipline and dedication to economic recovery for the progress made in clearing the inherited debt.
He highlighted that the significant increase in the state’s internally generated revenue was instrumental in achieving this feat, made possible by the proactive mandate given to the Kogi State Inland Revenue Generation Agency to boost revenue collection.
Separately, the State Commissioner for Information, Kingsley Fanwo, outlined other key developments in the state, including the construction of perimeter fencing around the Confluence State University of Science and Technology (CUSTECH) campus in Osara, aimed at addressing security concerns following a breach last year.
Fanwo also announced the establishment of a climate change agency dedicated to tackling the environmental challenges affecting the state.