The Kogi State Government has dismissed as “false and misleading” a report alleging that 80 percent of the state’s revenue will be committed to debt servicing over the next three years.
Commissioner for Finance, Budget and Economic Planning, Hon. Asiwaju Idris, in a statement on Thursday, said the claim was inconsistent with verifiable data and does not reflect the reality of the state’s finances under Governor Ahmed Usman Ododo.
“The assertion that 80% of our revenue will go into debt servicing is unfounded. Since taking office, Governor Ododo has sustained responsible financial management, ensuring that debt obligations remain well within globally accepted thresholds. This has freed resources for investment in infrastructure, healthcare, education, and other people-centered programmes,” Idris said.
Official records released by the government show a steady decline in debt servicing as a share of total revenue to indicare, 29% in 2020, 15% in 2021, 11% in 2022 and 11% in 2023
The figures he said are well below the 40% international benchmark for debt sustainability.
The 2024 Debt Sustainability Analysis (DSA) also projects that Kogi’s debt position will remain stable up to 2033.
Hon. Idris further noted that as of March 31, 2025, the Debt Management Office ranked Kogi as the state with the fifth lowest domestic debt nationwide, underscoring what he described as the government’s prudent financial stewardship.
He added that the Ododo administration has maintained transparency and accountability by consistently publishing budgets, debt sustainability reports, and citizens’ guides on the state’s official website for public scrutiny.
“The Ododo government is committed to prudent debt management, improved internally generated revenue, and accountability in the use of public resources. These are the hallmarks of an administration determined to secure lasting prosperity for the people of Kogi State,” the Commissioner stated.