Kogi with N59.15 billion, top other states with reduced domestic debts in 2020 – DMO

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Data emerging from the StatiSense reveals that the Kogi state government is leading in the reduction of domestic debts owed by various state governments in Nigeria as of the end of September 2020.

According to StatiSense report, Kogi state government through the leadership of its Governor, Yahaha Bello was able to reduce the state debt from a cumulative N132.5 billion it was as of December 31, 2019, to N73, 314,904,696.35 as of September 30, 2020, according to the Debt Management Office (DMO).

 

The report by data consulting firm with expertise in providing data services such as analytics, research, reporting, and training further stated that Kogi State government under the stewardship of Bello through a well-structured fiscal policy and prudent management of the state’s scarce resources reduced the state domestic debts by N59.15 billion.

The StatiSense showed the breakdown as follow; Kogi state with N59.15 billion followed by Katsina state with a reduction of N21.75 billion, FCT with N17.94 billion reduction, and Edo state with N17.75 billion reduction. Others are Ekiti state (N9.84billion, Plateau state (N7 billion), Kaduna (N6.39 billion, Imo state (N6.26)

The data also revealed that while some of the state governments were battling with the reduction of their state debt profiles, others accumulated more. Lagos state topped the chart with an increase of local debt profile from December 2019 to September 30, 2020, with an additional N49.09 billion.

Lagos State government was closely followed by Taraba state with an increment of N40.43 billion, Benue state (N29.77 billion), Anambra state (N25.1 billion), Abia state (N20.86 billion).

Others are in the category of states with rising debts are Adamawa (N14.48 billion), Kano (N9.25 billion), Zamfara (N8.45 billion), Oyo (N8.38 billion), Ogun (N7.8 billion), and Borno (N6.77 billion).


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