The Kogi State Government has announced that it has successfully cleared N98.8 billion in debt inherited from previous administrations, achieving this milestone within just 15 months of Governor Ahmed Usman Ododo’s tenure.
The debts repaid include N8 billion in bonds from the Idris Wada administration, N50.8 billion in salary bailout loans from the immediate past government, N10 billion in infrastructure funding backed by the Excess Crude Account, and two separate N15 billion infrastructure loans from Zenith Bank and UBA Plc.
Speaking with journalists after the latest Executive Council meeting, Commissioner for Finance, Budget and Economic Planning, Mukadam Asiwaju Asiru Idris, described the repayment as a “landmark achievement” and praised Governor Ododo’s fiscal approach.
“His Excellency, Governor Ododo, has demonstrated fiscal discipline and a genuine commitment to economic recovery. Within 15 months, we have cleared N98.8 billion in legacy debt,” Idris stated.
He also noted that global credit rating agency Fitch has upgraded Kogi’s credit profile from ‘B-’ to ‘B’, maintaining a stable outlook. The upgrade is attributed to the state’s prudent financial management. As of 30 September 2024, the state’s debt profile stands at N40.5 billion, a figure officials say positions Kogi on a sustainable financial trajectory.
At the council meeting held in the Executive Council Chambers of Government House, Lokoja, Governor Ododo reiterated the administration’s focus on grassroots development, infrastructure, and long-term economic stability.
“We are in government to serve the people, and that means staying connected to their needs and aspirations,” the Governor was quoted as saying, urging public officials to deepen their engagement with communities across the state.
Governor Ododo also directed all government officials to adopt Made-in-Kogi fabrics as part of their official dress. He encouraged residents of the state to embrace locally produced goods as part of a broader cultural and economic revival.
Briefing journalists on this initiative, Commissioner for Information and Communications, Hon. Kingsley Femi Fanwo, described the move as both symbolic and strategic.
“Governor Ododo is leading a government that listens, learns, and leads from the grassroots. His directive on Made-in-Kogi fabrics is designed to stimulate the local economy and showcase our unique identity to the world,” Fanwo explained.
On infrastructure, Fanwo confirmed that work at the Confluence University of Science and Technology (CUSTECH), Osara, is nearing completion. Perimeter fencing is 90% done, while both male and female hostels have been completed and are currently accommodating students. He also noted that similar projects are progressing well at the Kogi State University, Kabba.
To address traffic congestion and improve public safety, the Executive Council approved a new bill that would restrict the movement of heavy-duty vehicles during peak hours. The Council also gave its nod to the creation of the Kogi State Agency for Climate Change.
The agency is expected to coordinate the state’s response to environmental and climate-related challenges, aligning with global sustainability goals.
