Edo State will not be taking any Loans for now says Governor Obaseki

- Edo State will not be borrowing for now.

- Obaseki plans to make the state an economic hub.

- Plans to improve processes and institutions.


Benin - In view of the current economic situation of Edo state, Governor Godwin Obaseki has made known his decision to avoid taking any new loans in the state for now.

The Governor also reiterated his administration's
resolve to avoid wastage in the state and also make it more viable for potent economic activities rather than borrowing.

In his address, he said “Sometime ago, we borrowed from the capital market. We would sit and look through our fiscal plans and we would make a determination at that point, whether we would still come back to the market.

From the look of things, except the interest rate comes down, we are not likely to borrow. We would not be able to come to the bond market, except the interest rate comes down, because, we may not be able to sustain the debt service.”

"In the case of Edo, we are trying to practice what we preach. Good governance. Make sure the state is grounded in good governance and accountable to the people. We are blessed and we are the heartbeat of Nigeria. You can imagine if you remove the heart”, the governor added.

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