Kogi government says it has paid off a debt of N98.8 billion in the last 15 months under the administration of governor Usman Ododo.
The Kogi Commissioner for Finance, Budget and Economic Planning, Asiwaju Idris announced the development on Tuesday in Lokoja during a press briefing held after the state executive council meeting.
Idris noted that the liquidated debt, inherited by the state government, included N8 billion in bonds from the former Idris Wada administration and N50.8 billion in salary bailouts during the tenure of former governor Yahaya Bello.
He said the state government cleared a 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,” 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.
The commissioner for Information and Communications, Kingsley Fanwo highlighted Ododo’s commitment to grassroots development, economic sustainability, and infrastructural growth.
He disclosed infrastructure efforts, including the construction of perimeter fencing around the Confluence University of Science and Technology (CUSTECH) in Osara, following last year’s security breach on the campus.
Fanwo also announced plans by the state government to restrict the daytime movement of heavy trucks and to establish a Climate Change Agency to address the environmental challenges posed by climate change.
