Ondo tops national fiscal discipline chart with 82.6% debt cut
Ondo State has emerged as Nigeria’s most fiscally disciplined state, slashing its domestic debt by an unprecedented 82.6 percent within a year — the highest reduction among the 36 states.
According to a statement released Saturday by Prince Ebenezer Adeniyan, Chief Press Secretary to Governor Lucky Orimisan Aiyedatiwa, the achievement is credited to strategic economic reforms and prudent financial management since the governor assumed office in December 2023.
Data from the Debt Management Office (DMO) show that Ondo’s domestic debt dropped from N74 billion in 2023 to N12 billion in 2024 — a reduction of N61 billion. Ebonyi State followed with a 76.2 percent reduction.
Aiyedatiwa’s administration has prioritized clearing salary backlogs, gratuities, and longstanding contractual obligations, moves that have revitalized the state’s economy and renewed investor and public confidence.
In the first quarter of 2024 alone, Ondo reduced its domestic debt by 77 percent — from N71.5 billion in December 2023 to N16.4 billion in March 2024 — second only to Jigawa State during that period.
The government reportedly achieved this milestone through rigorous cost-control measures, all without disrupting public services or compromising workers’ welfare.
The statement described the development not just as a numerical achievement, but as proof of deliberate policy direction, sound leadership, and responsible governance.
With this fiscal turnaround, Ondo State positions itself as a national benchmark for financial discipline and public sector efficiency.
