***As Gov Aiyedatiwa’s Administration Clears 82.6% of Domestic Debt in One Year
Ondo State has emerged as Nigeria’s most fiscally disciplined sub-national government, recording an unprecedented 82.6% reduction in its domestic debt within a year—the highest among all 36 states.
This remarkable achievement is credited to the strategic economic reforms and financial prudence of Governor Lucky Orimisan Aiyedatiwa’s administration since assuming office in December 2023.
According to data from the Debt Management Office (DMO), Ondo State slashed its domestic debt from ₦74 billion in 2023 to ₦12 billion in 2024—a difference of ₦61 billion, translating to an 82.6% reduction. Ebonyi State followed with a 76.21% debt reduction.
Governor Aiyedatiwa prioritized the clearance of outstanding salaries, gratuities, and contractual obligations, restoring fiscal credibility and boosting investor and public confidence in the state government.
Notably, in the first quarter of 2024 alone, the state reduced its domestic debt by 77%, from ₦71.5 billion in December 2023 to ₦16.4 billion in March 2024. This placed Ondo second only to Jigawa State during that specific period.
The feat was achieved through sweeping cost-control measures and strategic financial management—all without compromising public services or the welfare of workers.
Ondo State’s debt reduction is not just a statistical milestone; it reflects deliberate policy choices, effective leadership, and a commitment to responsible governance.
With this achievement, Governor Aiyedatiwa’s administration positions Ondo State as a national model for fiscal discipline, financial resilience, and strategic planning in public finance management.
