Okpebholo reduces Edo debt by N30bn

The Edo State Government has reduced the state domestic debt by N30.6bn in three months.

This was made known through the newly released data from the Debt Management Office.

According to the data, the state’s domestic debt dropped from N113bn in Q4 2024 to N82.4bn in Q1 2025.

The development is coming at a time when at least 10 other states reportedly accumulated a combined N417.7bn in new domestic debt, despite increased revenue inflows from the Federation Account Allocation Committee.

Speaking at a recent policy retreat in Benin City, Governor Monday Okpebholo said his administration remained committed to sustainable growth.

“We’re committed to growing Edo’s economy without mortgaging its future.

“Borrowing must be strategic, purposeful, and productive, not a default mode for governance. We are here to build, not to burden,” he said.

He noted that on assumption of office, his administration focused on revamping the state’s internal revenue framework, empowering the Edo Internal Revenue Service with digital tools, enhanced compliance strategies, and broader citizen engagement.

The reforms, according to him, had not only boosted Internally Generated Revenue but had also instilled renewed public confidence in the state’s financial management.

“Here in Edo, we have implemented a value-for-money budgeting framework that prioritises capital projects and outcome-based spending.

“From rural electrification to roads, education, healthcare, and digital infrastructure, government resources are now strategically deployed to deliver tangible impact,” Okpebholo stated.