Captain Idris Wada, the Governor of Kogi State has said that his administration has incurred only N6 billion in debts since he took over the mantle of leadership four years ago.
The governor disclosed that the debt profile of the state stands at N44.46 billion, out of which he said he inherited the sum of N38.38 billion in debt from the previous administration when he took over power on January 27, 2012.
The governor, who dropped this hints in Government House, Lokoja, explained further that the debt profile was drawn majorly from unpaid projects initiated by the previous administration, which have direct bearing on the welfare of the people in the state.
He added that the unpaid salary of workers for three months, October, November and December that gulped the sum of N7.7 billion; leave bonus of N325.9 million and N18 billion outstanding for gratuity of retired workers since the state created parts of the debt profile.
Further, the governor said his administration only collected the sum of N8b out of the N20 billion approved bond fund, stating that he was able to initiate and construct many projects like Lokoja Mega terminus, kogi hotels, Ganaja-Lokoja 18km by- pass road and hosts of others.
While thanking the people of the state for their cooperation for the past 4years, he said his administration through Public Private Partnership, PPP, with Chinese investors has initiated many projects like Allo Cement factory and Ethanol Producing Company at Banda which, he said, will come on stream by April this year.
Captain Wada said most of the projects were product of his transformation agenda for the state, stressing that they will boost economic activities, as it will generate employment and revenue for the state.