The Kogi State Commissioner for Finance, Budget and Economic Planning, Excmo. Thuswaju Idris, he has dismissed as false and deceiving a publication that alleges that 80% of the State’s income will be committed to debt service in the next three years.
In a statement issued on Thursday, the Hon. Idris emphasized that, under the leadership of Governor Ahmed Ododo, the debt service has been put on a sustainable path, releasing resources for development and social investment.
“The statement that 80% of our income will enter into the debt service is unfounded and inconsistent with verifiable fiscal data. Since entering the position, the administration of its excellence, Governor Ahmed Usman Ododo, has sustained the responsible financial management, the guarantee that debt service obligations remain the programs of world thresholds in the worldwide level. Explained.
The official reports published by the state government show that the debt service as a part of the total income has constantly decreased: 29% in 2020, 15% in 2021, 11% in 2022 and 11% in 2023.
These figures are well below the 40% international reference for sustainability and confirm that the position of Kogi’s state debt is stable and well managed.
The sustainability analysis of the debt of 2024 (DSA) projects that the debt service obligations will continue to be sustainable until 2033, firmly refuting any 80% claim of debt commitments.
Excmo Idris also reaffirmed that the administration of Governor Ododo continues to defend transparency and responsibility when publishing budgets, debt sustainability reports and citizens’ guides on the official website of the State, which allows the public to verify the financial records directly.
The commissioner also pointed out that as of March 31, 2025, the Debt Management Office classified Kogi as the State with the fifth lower internal debt throughout the country.
The administration of the Governor Ododo is committed to the management of prudent debt, the income generated internally and the responsibility in the use of public resources. These are the distinctive stamps of a government determined to ensure lasting prosperity for the people of the state of Kogi, ”the statement concluded.
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