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Governor Fr. Hyacinth Iormem Alia of Benue State has earned high praise for his exemplary financial stewardship, as highlighted in the latest quarterly report released by the National Bureau of Statistics (NBS). Unlike many of his counterparts, Governor Alia has refrained from engaging in foreign or domestic borrowing since assuming office in 2023, setting a benchmark for fiscal responsibility.
The NBS report reveals that while numerous states are accumulating significant debts, Benue State stands out for avoiding new loans altogether. In contrast, Oyo State leads with a substantial debt of ₦93.4 billion, followed by Kaduna State with ₦62 billion in foreign debt and ₦50 billion in local loans. Other states incurring notable foreign loans include Gombe (₦20.3 billion), Zamfara (₦28 billion), Katsina (₦20.3 billion), Kebbi (₦7.4 billion), Jigawa (₦10.98 billion), Ondo (₦5.6 billion), Abia (₦7 billion), Ebonyi (₦10.9 billion), and Enugu (₦10.7 billion).
Additionally, several states have taken on both foreign and domestic loans: Bauchi (₦26 billion), Borno (₦18.2 billion), Taraba (₦18.7 billion), Sokoto (₦17 billion), Niger (₦25.8 billion), Kwara (₦2.18 billion), and Ekiti (₦19.8 billion). Despite this trend, Benue State has notably topped the chart in promptly settling inherited debts from previous administrations, showcasing Governor Alia’s commitment to good governance.
The National Debt Management Office has called upon other state governors to emulate Benue’s example, emphasizing the importance of prudently managing state resources to alleviate unnecessary debt burdens. This recognition underscores Benue’s leadership in fostering a sustainable financial future, offering a model for others to follow.
