Edo State Governor Monday Okpebholo has significantly reduced the state’s debt burden while advancing development projects through prudent financial management. In a political climate where debt accumulation is common, his administration is setting a new standard for integrity and strategy in governance.
Chief Press Secretary Fred Itua said in a statement that the Debt Management Office recent data shows Edo State’s domestic debt dropped from ₦113 billion in December 2024 to ₦80 billion by June 2025, while foreign debt reduced from $383 million to $337 million. Itua emphasized that this achievement came without new loans, bailouts, or federal interventions, but through careful management, transparent spending, and strategic prioritization. He stated, “Governor Okpebholo has demonstrated that progress does not depend on reckless borrowing, but on sound economic thinking and disciplined governance.”
Itua further explained that the governor’s SHINE Agenda, focusing on Security, Health, Infrastructure, Nutrition-Agriculture, and Education, channels funds into growth-stimulating sectors. He noted that even a ₦100 billion credit line for infrastructure remains untouched, as the governor insists loans must be for visible, viable, and verifiable projects. Itua quoted Governor Okpebholo saying, “We will borrow only when the project is visible, viable, and verifiable,” an ethos defining his leadership.
Itua added that financial analysts describe the approach as strategic and moral, restoring Edo’s financial credibility and attracting investors. Under Okpebholo, leakages have been tightened, revenue processes improved, and transparency mechanisms introduced, with monthly fiscal reports showing accountability. Itua highlighted that projects like urban roads, rural water schemes, school rehabilitation, and healthcare expansion are progressing, proving fiscal discipline need not slow development. He reiterated the governor’s philosophy, “Cut waste, pay debts, build infrastructure, and secure the future,” and shared another quote, “Public office is not for accumulation, it is for contribution.” Itua concluded that civil servants are paid promptly, pensioners are relieved, and contractors trust the government, marking a renaissance of hope for Edo.
Oba ghato kpere, iseeeeeeeeeeee!
