Yobe Govt repays 39bn debt in one year

The Yobe State Government has in one year repaid N39 billion out of the N96 billion borrowed from financial institutions in the country. The Head of Debt Management Unit, Yobe State Ministry of Finance, Mr. Muhammad Rabiu Ibrahim, stated this at a sub-national stakeholders’ engagement session and a statewide Town Hall meeting in Damaturu. The […]

The Yobe State Government has in one year repaid N39 billion out of the N96 billion borrowed from financial institutions in the country.

The Head of Debt Management Unit, Yobe State Ministry of Finance, Mr. Muhammad Rabiu Ibrahim, stated this at a sub-national stakeholders’ engagement session and a statewide Town Hall meeting in Damaturu.

The Town Hall meeting organized by the Presidential Enabling Business Environment Council (PEBEC) was aimed at assessing the state’s performance on business, enabling reforms and strengthening alignment with national economic initiatives.

Speaking at the occasion, Rabiu Ibrahim said from the first quarter of 2024 to the first quarter of 2025, the state has cleared 39 billion out of 96 billion as reported.

He said the move was aimed at boosting the state’s economy and restoring investors’ confidence and commitment to fiscal responsibility.

According to him, the state government has demonstrated its commitment to reduce Yobe’s debt burden while taking a hold on fresh loans.

He added that whenever the government intends to borrow internally or otherwise from individuals or institutions, it has to be through the State’s Public Debt Management Unit.

Earlier, the Director General of PEBEC, Zahrah Mustapha Audu, said the session was to deepen public understanding about the ongoing business reforms.

She said the session will strengthen collaboration and drive forward the reform agenda that will shape the future of governance and enterprise in the State.