Kogi Now Among Top Five States with Lowest Domestic Debt »

The strategic economic and fiscal reforms of the Kogi State Government have begun to yield fruitful results, with the state now ranked as having the 5th lowest domestic debt among the 36 states of the federation and the Federal Capital Territory (FCT), according to the latest figures released by the Debt Management Office (DMO) as of March 31, 2025.

The report shows that Kogi State’s domestic debt stands at ₦20.38 billion, marking a significant drop from the ₦121.81 billion recorded in Q4 of 2023, when the state ranked 18th lowest in the country. This reflects a remarkable debt reduction of over ₦101.43 billion in just over one fiscal quarter.

Speaking on the achievement, the State Commissioner for Finance, Budget and Economic Planning, Asiwaju Asiru Idris, attributed the success to the state’s aggressive implementation of global best practices in financial management, including prudent borrowing, enhanced revenue performance, and strategic expenditure control.

“We are deliberate in our financial approach, cutting waste and focusing on impactful spending. This improvement is not accidental; it is the result of Governor Ahmed Usman Ododo’s transparent , accountable and reform-minded leadership,” he said.

Also speaking, the Auditor General of the State, Alhaji Yakubu Okala, said Kogi’s improved debt standing is evidence of transparency and effective oversight.

“We ensure that all government funds are deployed strictly for their intended purposes. His Excellency’s accounting background has brought a culture of accountability and efficiency to every level of government. Our systems now deliver more results with fewer resources,” he said.

Alhaji Okala commended Governor Ododo’s unwavering support for fiscal institutions, saying the Governor has not only backed reforms but insisted on compliance and value-for-money across all MDAs.

Both the Commissioner of Finance and the Auditor General of the State agreed that the results are products of the hard work by the finance team in the last administration and the consolidation of the present administration in the State to ensure that the resources of the state serve for the people of the State.

They also attribute improved revenue to the reduced need for domestic borrowing, saying the State Government is conveniently funding a good number of capital projects in the State.