"/" Kogi State Allocates N17 Billion of N23 Billion Revenue to Debt Servicing Under Former Governor Yahaya Bello - NewStridez

Kogi State Allocates N17 Billion of N23 Billion Revenue to Debt Servicing Under Former Governor Yahaya Bello

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Kogi State’s Financial Challenges Under Yahaya Bello’s Leadership

Kogi State, under former governor Yahaya Bello, allocated a significant amount of its revenue to debt servicing in 2023. A detailed evaluation of the state’s fourth-quarter budget revealed that approximately 74% of the state’s Internally Generated Revenue (IGR) was spent on repaying debts, totaling N17.66 billion. The state generated N23.66 billion in income during this period, demonstrating a pronounced economic imbalance (Sahara Reporters).

Legal Challenges and Future Implications

Currently, Yahaya Bello faces legal proceedings for corruption and fraud charges brought by the Economic and Financial Crimes Commission (EFCC). His bail was denied due to procedural missteps. Bello, Nigeria’s youngest governor during his tenure, is accused of significant financial mismanagement. These developments underscore the need for financial prudence and transparency in governance. How do you think political accountability can be improved to prevent such fiscal mismanagement in the future?



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