FISCAL RESPONSIBILITY AND PRUDENT RESOURCE MANAGEMENT: THE GOVERNOR MONDAY OKPEBHOLO EXAMPLE
byOjo Evans-
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FISCAL RESPONSIBILITY AND PRUDENT RESOURCE MANAGEMENT: THE GOVERNOR MONDAY OKPEBHOLO EXAMPLE
At the inception of this administration in November 2024, Governor Monday Okpebholo constituted an Assets Verification Committee with the mandate of determining the true financial position of Edo State by assessing its inherited assets and liabilities.
The committee reported the following inherited liabilities:
- External Debt: ₦282.8 billion
- Domestic Debt: ₦98.9 billion
- Pension Liabilities and Obligations: ₦57.9 billion
- Contractual Liabilities and Obligations: ₦203.9 billion
- Other Liabilities (Third Parties and Staff): ₦30.4 billion
This brings the total inherited liabilities to approximately ₦674 billion.
Over the past 19 months, Governor Monday Okpebholo's administration has not only avoided adding to this debt burden but has consistently reduced it through regular debt servicing and prudent fiscal management.
By strengthening internally generated revenue and enforcing fiscal discipline, the administration has significantly reduced both domestic and external debt without contracting new loans. Available records indicate that domestic debt has been reduced by ₦30.6 billion, while external debt has declined by approximately $46 million.
Governor Monday Okpebholo's S.H.I.N.E. Agenda goes beyond infrastructure development. It reflects a strong commitment to fiscal responsibility, due process, transparency, and prudent resource management, ensuring that Edo State's finances remain on a sustainable path.
