Yobe’s domestic debt hits N96 billion in one year
The Yobe State Government said it has in one year repaid N39 billion out of the N96 billion borrowed from financial institutions in the country.
The Head of the Debt Management Unit, Yobe State Ministry of Finance, Muhammad Rabiu Ibrahim, revealed this while speaking at a sub-national stakeholders’ engagement session and a statewide town hall meeting in Damaturu, organized by the Presidential Enabling Business Environment Council, PEBEC.
Ibrahim explained that from the first quarter of 2024 to the first quarter of 2025, the state has cleared N39 billion out of N96 billion as reported.
According to him, the move was aimed at boosting the state’s economy and restoring investors’ confidence and commitment to fiscal responsibility.
He said the state government has shown its commitment to reduce Yobe’s debt burden while taking a hold on fresh loans.
He added that, “Whenever the government intends to borrow internally or otherwise from individuals or institutions, it has to be through the State’s Public Debt Management Unit for scrutiny.”
The Director General, Presidential Enabling Business Environment Council (PEBEC), Zahrah Mustapha Audu, said the town hall engagement is aimed at assessing the state’s performance on business-enabling reforms and strengthening alignment with national economic initiatives.
Yobe’s domestic debt hits N96 billion in one year
