Governor Usman Ododo of Kogi State has fully cleared N98.8 billion debt owed by the Kogi State Government, within 15 months in office.
In the briefing by the Commissioner of Finance, Budget and Economic Planning, Mukadam Asiwaju Asiru Idris during the State Executive Council Meeting held on Monday in Lokoja, outlined the breakdown of the settled debts to include, the N5 billion Series 1 and N3 billion Series 2 bonds taken by the former Governor HE Idris Wada administration for infrastructure, fully paid and liquidated.
“The N50.8 billion salary Bailout of the last administration has been fully paid and liquidated. The N10 billion ECA Backed Infrastructure loan has been paid and fully liquidated.
“The N15 billion Infrastructure loan from Zenith Bank Plc by the last administration has been fully liquidated.
“The N15 billion Infrastructure loan from UBA PLC by the last administration has been paid and fully liquidated.
“Fitch Ratings has upgraded Kogi State long-term foreign- and local-currency issuer default ratings (IDRs) or credit ratings to ‘B’ from ‘B-‘ with a stable outlook. The state debt position as at 30 Sept 2024 is N40,530,792,606.34. The state debt sustainability is very strong.
Hon. Kingsley Femi Fanwo, Commissioner for Information and Communications, on his part, noted that Ododo charged all government officials to stay close to the grassroots, maintaining that the essence of their appointment is to be in close touch with their people in order to guide the government in addressing the needs of the people.
“In a bold demonstration to tackle the challenges of Climate Change, the State Executive Council has also approved the transmission of a Bill to the House of Assembly for the creation of the Kogi State Agency for Climate Change.
“The Chief Servant of Kogi State also urged Kogites to wear made in Kogi fabrics and have directed all government officials to lead by example. He said the initiative will boost the local economy and help market Kogi to the world.
“The State Executive Council was also briefed about the progress of work on the perimeter fencing at the Confluence University of Science and Technology, Osara. The project is 90% completed and should be completed soon.
“Council was also informed that Male and Female hostels have been completed at CUSTECH and students have moved in.”
He added, “Council also received briefings on the ongoing fencing and hostels projects ongoing at the Kogi State University, Kabba. Council expressed satisfaction with the pace of work by the contractors.
“The Kogi State Executive Council has also approved a Bill to be transmitted to the State House of Assembly on the need to restrict the movement of heavy trucks in some hours of the day.
“This is to reduce the rate of accidents caused by the recklessness of the truck drivers in the busy hours of the day.”
