How I reduced Ondo domestic debt to N12bn, by Aiyedatiwa

Edo Governor Lucky Aiyedatiwa has said that his administration accomplished reduction of domestic debt by an unprecedented 82.6 percent within one year by implementing sweeping cost-control measures.

Aiyedatiwa said he achieved the feat without halting public services or sacrificing workers’ welfare.

Data from the
Debt Management Office
(DMO) on states’ debt comparison between 2023 and 2024 showed Ondo State at the top in reducing domestic debt\xa0 from N74bn in 2023 to N12bn in 2024, a difference of N61billion and a percentage of 82.6.

Aiyedatiwa said the reduction was not merely statistic but a reflection of deliberate policy choices, strong leadership, and responsible governance.

Speaking through his Chief Press Secretary, Ebenezer Adeniyan, Aiyedatiwa\xa0said the development has made significant on the economy of the state and restored investors’ and residents’ confidence in his administration.

“This outstanding achievement is attributed to the strategic economic reforms and financial prudence of Governor Lucky Aiyedatiwa’s administration since its inception.

“Since coming into office in December 2023, Governor Aiyedatiwa has made a top priority payment of backlog of salaries, gratuities and contractual obligations owed by the state government.

“In the first quarter of 2024 alone, Ondo State recorded a 77 percent domestic debt reduction, amounting to ₦55.11 billion. The state’s debt profile dropped from ₦71.5 billion in December 2023 to just ₦16.4 billion by March 2024. This feat placed Ondo second only to Jigawa State in terms of domestic debt reduction during the period under review.

“With this achievement, Ondo State stands out as a model for fiscal discipline, financial resilience, and strategic planning in Nigeria’s public sector.”

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Syndigate.info
).