Benue Govt. spends $2.82m to service loans in 1 year

Governor Hyacinth Alia of Benue State has revealed that State spent $2,82 million of budgetary allocation to service loans in one year.

Governor Alia, in a statement by his Chief Press Secretary, Tersoo Kula, in Makurdi on Monday, asserted that his administration has spent $2.82 million (N4.53 billion) to service external loans between June 2023 and June 2024.

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Governor Alia, however, disclosed that Benue has not borrowed money since the inception of his administration but paid the said sum to reduce the state’s debt burden.

He further stated that the Debt Management Office (DMO) recent report confirmed that the external debt profile of Benue State has experienced a sharp decrease within the period under review.

According to the Governor, “Recall that having inherited over N350 billion in debts from the previous administration, the administration has been cautious about taking loans, despite initiating numerous projects across the state, with many already completed.

“We are changing the narrative for good governance and massively delivering dividends of democracy to the people.

“We are consistent in insisting that the future of the state comes first and has demonstrated the highest level of decision-making and resource management.”

He further stated that the current BudgIT release of the third quarter of 2024, States Fiscal Transparency League Table, indicated that Benue has moved to 9th position from the 35th and 36th positions it had consistently shuffled since 2015.

NAN