The Yobe State Government said it has in one year repaid N39 billion out of the N96 billion borrowed from financial institutions in the country.
The Head of the Debt Management Unit, Yobe State Ministry of Finance, Muhammad Rabiu Ibrahim, revealed this while speaking at a sub-national stakeholders’ engagement session and a statewide town hall meeting in Damaturu, organized by the Presidential Enabling Business Environment Council, PEBEC.
Ibrahim explained that from the first quarter of 2024 to the first quarter of 2025, the state has cleared N39 billion out of N96 billion as reported.
According to him, the move was aimed at boosting the state’s economy and restoring investors’ confidence and commitment to fiscal responsibility.
He said the state government has shown its commitment to reduce Yobe’s debt burden while taking a hold on fresh loans.
He added that, “Whenever the government intends to borrow internally or otherwise from individuals or institutions, it has to be through the State’s Public Debt Management Unit for scrutiny.”
The Director General, Presidential Enabling Business Environment Council (PEBEC), Zahrah Mustapha Audu, said the town hall engagement is aimed at assessing the state’s performance on business-enabling reforms and strengthening alignment with national economic initiatives.
-Advertisement-
Grab our latest Magazine, "Kelechi Amadi-Obi - Transcending the worlds of Law, Visual Art and Photography". Get your order fast and stress free.
For more details about Newswire Law&Events Magazine, kindly reach out to us on 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk. You will be glad you did
Download E-MagazineDo you want to be heard, your events covered, your articles published, or need to advertise your products and services on our Blog and Magazine, reach out to us at Newswire Law and Events, you will be glad you did. For more details about our services, please call: 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk
