Benue State Governor Hyacinth Alia announced that his administration spent $2.82 million (N4.53 billion) to service external loans from June 2023 to June 2024. In a statement released by his Chief Press Secretary, Sir Tersoo Kula, Alia noted that no new loans have been taken since he took office, and the payments were made to alleviate the state’s debt burden. He also mentioned that a recent report from the Debt Management Office indicated a significant decrease in Benue’s external debt during this period.
The administration is managing an inherited debt of over N350 billion from the previous government by cautiously avoiding new loans while successfully initiating and completing several projects across the state. We are transforming the narrative of good governance and significantly providing democratic benefits to the people.
“We prioritize the state’s future and have shown exceptional decision-making and resource management,” he stated. The recent BudgIT release for the third quarter of 2024 shows that Benue has significantly improved its position in the States Fiscal Transparency League Table, moving up to 9th place from consistent rankings of 35th and 36th since 2015.