The administration of Gov. Yahaya Bello has made deliberate policies of running governance with transparency, accountability towards achieving debt reduction.
The Kogi State Commissioner For Finance Budget and Economic Planning, Asiwaju Asiru Idris made the disclosure at paper presentation on debt burden, transparency and accountability in governance: Kogi’s success story at the 3rd Annual GYB Seminar for Political and Crime Correspondents/Editors, holding at Transcorp Hilton, Abuja.
The two-day seminar is aimed at empowering professionals on the beats in focus with relevant skills and information to perform their important roles efficiently.
The Finance Commissioner explained that Kogi “State Government takes the issues of transparency and accountability very seriously”, said through deliberate policies to entrench good governance it has “reduced the debt burden of the state”.
Towards a brighter future assured, Asiru observed that with Alhaji Usman Ahmed Ododo as Governor, the transparency and accountability rating of Kogi State will be sustained.
Asiru listed some debt reduction strategies adopted by the administration of Gov. Bello to include:
Establishment of Treasury Single Account (TSA),
Creating proper budgetary procedure,
Good Debt Management Strategy and Debt consolidation or debt buy back program.
The Commissioner added that other strategy’s put in place include reduction of expenditure,
Debt restructuring; reducing the interest rates and extending the tenor.
He explained that the State received the sum of $6 Million from the SFTAS on Debt reporting, improved debt sustainability and arrears of clearance framework.
While pointing out that the State Government under the administration of Gov Bello has encouraged foreign direct investment as well as
Establishment of skills development/building of the Confluence University of Science and Technology (CUSTECH), Osara.
Other strategy’s employed by Gov. Bello’s administration he said includes increased investment in infrastructure like roads and health,
Improved security system added that the
establishment of Kogi State Fiscal Responsibility Commission has helped in promoting planned and balanced economic development.
Kogi State Asiru maintained has received $300,000 USD annually in the last 4 years on participatory preparation of the annual budget desclosed that the State has operated
Citizens Budget as a priority, said with Alhaji Usman Ahmed Ododo, the APC Governorship candidate, there will be continuity and sustainability.