Ondo State on Friday emerged as Nigeria’s most fiscally disciplined sub-national government, having reduced its domestic debt by an unprecedented 82.6 percent within one year.
The Chief Press Secretary to the State Governor, Prince Ebenezer Adeniyan, who disclosed this, stated that the domestic debt reduction is the highest and most significant among all 36 states of the federation.
According to him, this remarkable achievement is the result of strategic economic reforms and financial prudence adopted by the administration of Governor Lucky Orimisan Aiyedatiwa since taking office.
Data from the Debt Management Office (DMO) on states’ debt profiles between 2023 and 2024 showed Ondo State leading in domestic debt reduction over the past year.
The figures reveal that Ondo State, under Governor Aiyedatiwa, reduced its domestic debt from ₦74 billion in 2023 to ₦12 billion in 2024 — a ₦61 billion decrease, representing an 82.6 percent reduction.
