Edo Governor Okpebholo Cuts Debt by 37% While Boosting Infrastructure

Edo State Governor Monday Okpebholo reported a 37% decrease in the state's structured domestic debt, which fell from ₦36.03 billion in the fourth quarter of 2024 to ₦22.60 billion by the first quarter of 2026, according to the Edo State Ministry of Finance. Inherited pension and gratuity arrears also decreased from ₦57.14 billion to ₦48.42 billion.

The administration attributes this debt reduction to improved internal revenue generation and stricter expenditure controls. The increase in aggregate financial figures is linked to certified contractor obligations for ongoing capital projects, including flyovers and road construction, rather than new borrowing.

The government's debt management strategy focuses on domestic debt sustainability, maintaining a healthy debt-to-revenue ratio. Okpebholo's infrastructure initiatives aim at impactful urban and rural projects, enhancing transportation and agricultural goods movement, while ensuring transparency in public finance by integrating contractor obligations into the state's accounting system.