Governor Usman Ahmed Ododo of Kogi State has fully offset the N98.8 billion debts he inherited from two previous administrations.
The State Commissioner for Finance, Budget and Economic Planning, Asiru Idris disclosed this on Monday in Lokoja while addressing newsmen.
Idris spoke shortly after the weekly State Executive Council Meeting held at the Government house and presided over by Governor Ododo
According him, the debts were paid and liquidated within the last 15 months.
He pointed out that the N98.8 billion debts were accumulated by two former governors of the state ; Capt. Idris Ichalla Wada and Alhaji Yahaya Bello.
Asiru explained that among the debts cleared by Governor Ododo were the N5 billion series one and N3 billion series two bond loans collected by two previous administrations in Kogi State.
He added that the N50 billion bailout loan with 20 years tenor has also been fully paid by the present government.
Asiru said : ”The last government also took N10 billion excess crude bank loan for infrastructure.
“The loan has been fully paid and liquidated.
“Also, the last administration took N30 billion facility for infrastructure, N15 billion from United Bank for Africa and N15 billion from zenith Bank.
“These loans have been fully paid and liquidated.
“The ratings of the State have improved.
“The sustainability of the state is very strong and the state have the capacity to continue to run and also take facilities.”
Asiru stated that Governor Ododo has advised that the state will limit itself within the resources available while improving on its internally generated revenue.
(vitalnewsngr.com)
