The administration of Governor Ahmed Ododo says it has fully paid the same of N98.8 billion debt it inherited and owed by the administration of the former governor, Capt (rtd) Idris Wada and that of his predecessor, Yahaya Bello.
The Kogi State Commissioner for Finance, Budget and Economic Planning, Asiwaju Asiru Idris stated this on Monday while briefing journalists shortly after the State Executive Council meeting held at the government house in Lokoja.
He noted that the payment was achieved within the last 15 months as he further disclosed that Governor Ododo has cleared the debts of N5 billion series one and N3 billion series two bond loan collected by previous administrations in Kogi State.
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He added that the N50 billion bailout with the tenure of 20 years have been paid fully paid by the 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 with the resources available while improving on it internally generated revenue.
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