Sh**cking Financial Strain: Benue State Pays Billion On Loans In 12 Months

Sh**cking Financial Strain: Benue State Pays Billion On Loans In 12 Months

Governor Hyacinth Alia of Benue State has revealed that his administration spent a staggering ₦4.53 billion (or $2.82 million) between June 2023 and June 2024 to service the state’s outstanding loans. Despite not taking on any...READ MORE…

new loans during his tenure, the Governor emphasized the importance of reducing the state’s debt burden, showcasing a clear commitment to fiscal responsibility.

In a statement signed by his Chief Press Secretary, Sir Tersoo Kula, Alia highlighted that this effort was essential for easing the state’s financial strain and positioning it for future growth. The Governor also pointed to a recent report from the Debt Management Office, confirming a significant reduction in Benue’s external debt profile during this period.

Alia noted that his administration inherited over ₦350 billion in debt from the previous government. Despite this heavy financial burden, the administration has focused on prudent management of resources, delivering numerous completed projects across the state.

Furthermore, the state’s fiscal transparency has seen a remarkable improvement. According to the latest BudgIT release, Benue has soared to 9th place in the States Fiscal Transparency League Table, a remarkable jump from the 35th and 36th positions it had occupied for years.

Governor Alia concluded by reaffirming his administration’s commitment to good governance, focusing on the future of the state and ensuring that development projects continue despite the fiscal challenges.

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