Edo State is no longer on the list of top ten most indebted states in Nigeria, a statement disclosed yesterday.
It quoted the Debt Management Office (DMO) third quarter 2022 data on the state of Nigeria’s debt stock to have revealed this.
According to the statement, the country’s total domestic debt stocks for all states, as of September 2022, had increased to N5.36 trillion, an increase of 128.44 billion Naira from the previous quarter’s N5.28 trillion.
The report listed Lagos, Delta, Ogun and Rivers State as the most indebted with N877,035,995,031.70; N272,612,510,528.95; N241,782,021,304.96 and N225,505,011,356.00 respectively.
The statement, Special Adviser to the Edo State Governor on Media Projects, Crusoe Osagie, noted that the report was a testament to the accountability, transparency and the prudent management of resources by the Governor Godwin Obaseki-led government.
The fifth most indebted state, according to the report by the DMO, was Akwa Ibom with N219,617,660,991.63, closely followed by Imo, Cross River, Oyo, Plateau and Bayelsa States with 207,520,959,471.52; 175,198,799,155.96; 160,071,143,937.27; 151,903,415,543.09 and 151,158,248,963.07 respectively.
According to Osagie, “The Edo State Government, under the sterling leadership of Governor Obaseki, has been very intentional in its vision to achieve economic prosperity for the state and has continued to adequately deploy all resources that accrue to the state to projects aimed at improving the livelihoods of the people.
“The recent report by the DMO is a testament to that fact. Edo State today, is witnessing an increase in Internally Generated Revenue on the back of nuanced reforms in the state to boost revenue inflow.
“Amid dwindling revenue from the federal government, the governor has continued to pursue life-transforming industrial and infrastructural projects and other massive developments to engender economic prosperity, leveraging private capital.
“Through the yearly Alaghodaro Summit alone, the government has attracted the inflow of over $2 billion investments into the state, including the $500 million attracted through the Edo State Oil Palm Programme (ESOPP).
“Saro Africa Group of Companies also began injecting about $250 million in the state through its Integrated Agricultural Project. The $10 million Edo Refinery project is another signature project. There are also investments in the technology, creative, manufacturing, food processing and energy sectors, among others.”
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Meanwhile, Obaseki, has revealed how his administration’s education reforms and youth development drive helped the government address the scourge of illegal migration and human trafficking among youths in the state.
The governor, while speaking to in Benin City, hailed partners and stakeholders, including the World Bank, International Organisation for Migration (IOM), United Nations Children’s Fund (UNICEF) and the Italian Government, among others, commending them for their support towards the gains recorded in tackling the hydra-headed monster.
He noted, “I thank you for the support you all have given us over the last few years. We would not have achieved a fraction of what we have without your support, encouragement and push.”
On how the government addressed the scourge, Obaseki noted, “When we came into office, we had a big problem. Our young people did not want to stay here anymore; they all wanted to emigrate. The traffickers had a full day. The reputation of this state was at its lowest ebb. We had transport services in this town who on a nightly basis carted away young people with a promise of taking them to Europe or somewhere they could get a better life. At one point in time, we had over 30,000 young men and women waiting in Libya to cross over to Europe.
“It was the number one issue we had to face coming into office and in trying to understand what was going on, it was clear that our society had failed our young ones. To them, anywhere else but home and for us, that was dangerous.”
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
