Ondo State Governor, Lucky Aiyedatiwa, has announced a dramatic 82.6% reduction in the state’s domestic debt, bringing it down from ₦74 billion in 2023 to ₦12 billion in 2024.
Speaking through his Chief Press Secretary, Ebenezer Adeniyan, Aiyedatiwa attributed the feat to strategic cost-control measures, economic reforms, and prudent financial management—achieved without compromising public services or workers’ welfare.
Data from the Debt Management Office (DMO) confirms Ondo as the top-performing state in domestic debt reduction over the period. In just the first quarter of 2024, the state trimmed ₦55.1 billion from its debt profile, dropping from ₦71.5 billion to ₦16.4 billion.
Aiyedatiwa emphasized that the reduction reflects deliberate policy decisions and has positively impacted Ondo’s economy by restoring investor and public confidence. He also highlighted his administration’s commitment to clearing backlogs of salaries, gratuities, and other obligations since taking office in December 2023.
With this achievement, Ondo is now seen as a benchmark for fiscal discipline and effective governance in Nigeria’s public sector.
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