Latimore Oghenesivbe, chief executive officer, Delta State Orientation and Communications Bureau, says Sheriff Oborevwori, the State governor, has reduced the State debt profile with more than N180 billion and saved over N205 billion through prudent management of operating cost, within one year and two months in office.
He made the disclosure in Lagos during a public affairs radio programme held on Tuesday in Asaba, the State Capital.
He said that several billions of Naira were saved by the governor within the said period and consistently, would be spent on new mega infrastructure projects under the MORE Agenda of this Administration, complete inherited and ongoing projects, increase financial grants to Artisans, Small and Medium scale businesses that would fast-track socioeconomic development in the state.
Read also: Oborevwori urban renewal strategies yielding results in Delta -Aide
Armed with latest facts and figures from the Federal Debt Management Office, DMO, Oghebesivbe, said Delta’s domestic debt decreased from N421.78 billion in Q1 2023 to N334.90 billion in Q1 2024, a 20.62% decrease.
He noted that from Q4 2023 to Q1 2024, the state debt also decreased from N373.41 billion by 10.31% as a result of the good governance ingenuity and prudent management of the state resources by governor Oborevwori.
He said that Oborevwori, assured that the declining debt profile of the State, coupled with the billions of Naira saved as surplus from operating cost, the State is more than ever determined to exit the list of national debtors, progressively enhance rapid economic growth that would create more wealth and jobs for citizens, and further advance Delta in all sectors beyond 2027.
He said that the State Government was not borrowing money to fund mega infrastructure projects, because the governor had efficiently blocked financial leakages, and saved billions of naira within so far in office.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
