Kwara Gov, AbdulRazaq Lead Economic Rebound As Local Debt Slashes By N176.3bn

By Lawal Merit Ifeoma

In a momentous development, the Debt Management Office (DMO) has reported a substantial reduction of N176.3bn in the local debt stock of 22 states and the Federal Capital Territory (FCT) during the third quarter of 2023. Among these states, Kwara emerges as a beacon of fiscal responsibility, securing its place as StatiSense’s overall 4th most prudent state in the nation.

This economic triumph extends beyond Kwara, encompassing a coalition of states committed to responsible financial governance. The reduction in the DMO’s local debt stock symbolizes a collective effort towards economic resilience and strategic planning. Notably, Delta, Lagos, Akwa Ibom, Bayelsa, Adamawa, Abia, Anambra, Ebonyi, Imo, Ekiti, Niger, Kogi, Ondo, Taraba, Enugu, Kaduna, Oyo, Osun, Sokoto, Jigawa, Kebbi, and the FCT join Kwara in this fiscal achievement.

The commendable ratings bestowed upon Kwara, such as being recognized as the 4th most prudent state by StatiSense and earning the title of an “Economic Viable State” by the Economic Confidential, underscore the commitment of these states to responsible financial management.

Governor AbdulRazaq’s leadership continues to play a pivotal role not only in Kwara but also on the national stage. His recent appointment as the Chairman of the Nation’s Economic Affairs Committee elevates Kwara’s influence and showcases the collaborative effort of states in shaping the nation’s economic policies.

As the year concludes, these states collectively stand at the forefront of economic prosperity, inspiring hope and confidence. The reduction in local debt, high ratings, and the Governor’s national appointment collectively contribute to a sense of pride and optimism among the residents of these states.

In the spirit of the season, this collective economic achievement becomes a Christmas miracle, promising a future marked by resilience, responsible governance, and national leadership. The people of these states celebrate this momentous occasion, looking forward to a new year filled with continued growth and success.

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