Edo State Government Slashes Debt by N30 Billion Under Governor Okpebholo's Leadership

The Edo State Government has made a significant reduction in the state's domestic debt, slashing it by N30.6 billion within just three months. According to data from the Debt Management Office (DMO), the state's domestic debt dropped from N113 billion in Q4 2024 to N82.4 billion in Q1 2025.



This development showcases the state government's commitment to fiscal discipline and responsible governance. Governor Monday Okpebholo's administration has prioritized sustainable growth, emphasizing the need for strategic and productive borrowing.

The state government has implemented reforms to revamp its internal revenue framework, empowering the Edo Internal Revenue Service (EIRS) with digital tools and enhanced compliance strategies. These reforms have boosted Internally Generated Revenue (IGR) and instilled renewed public confidence in the state's financial management.

The administration has implemented a value-for-money budgeting framework, prioritizing capital projects and outcome-based spending. This approach has enabled the state to deliver tangible impact in areas such as rural electrification, roads, education, healthcare, and digital infrastructure.

Observers have lauded the state's fiscal performance, describing it as both rare and commendable in the current economic climate. Dr. Nathaniel Igbinedion, an economist, noted that "Governor Okpebholo is redefining subnational governance. His administration is showing that it's possible to govern responsibly without reckless borrowing or media gimmicks."

Citizens across the state have begun to notice the shift in governance. "This is the most responsible government we've had in a while," said Mrs. Veronica Ebosele, a retired teacher in Irrua. "We are seeing real projects without the state drowning in debt. That gives people hope."

The governor's commitment to promoting public-private partnerships, improving the ease of doing business, and attracting investment has further reinforced Edo's position as one of Nigeria's most forward-thinking subnational economies.


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