The Kogi State Commissioner for Finance, Budget and Economic Planning, Hon. Asiwaju Idris, has dismissed as false and misleading a publication alleging that 80% of the State’s revenue will be committed to debt servicing over the next three years.
In a statement issued on Thursday, Hon. Idris stressed that under the leadership of Governor Ahmed Ododo, debt servicing has been placed on a sustainable path, freeing resources for development and social investment.
“The claim that 80% of our revenue will go into debt servicing is unfounded and inconsistent with verifiable fiscal data. Since coming into office, the administration of His Excellency, Governor Ahmed Usman Ododo, has sustained responsible financial management, ensuring that debt service obligations remain well within globally accepted thresholds. This has created fiscal space to fund infrastructure, healthcare, education, and other people-centred programmes,” the Commissioner explained.
Official reports published by the State Government show that debt servicing as a share of total revenue has consistently declined: 29% in 2020, 15% in 2021, 11% in 2022 and 11% in 2023.
These figures are far below the 40% international sustainability benchmark and confirm that Kogi State’s debt position is stable and well-managed.
The 2024 Debt Sustainability Analysis (DSA) further projects that debt service obligations will remain sustainable up to 2033, firmly disproving any claims of 80% debt commitments.
Hon. Idris also reaffirmed that Governor Ododo’s administration continues to uphold transparency and accountability by publishing budgets, debt sustainability reports, and citizens’ guides on the State’s official website, allowing the public to verify financial records directly.
The Commissioner further noted that as at March 31, 2025, the Debt Management Office ranked Kogi as the State with the 5th lowest domestic debt nationwide.
Governor Ododo’s administration is committed to prudent debt management, improved internally generated revenue, and accountability in the use of public resources. These are the hallmarks of a government determined to secure lasting prosperity for the people of Kogi State,” the statement concluded.
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