Kogi Spends N17B on Explosive Debt, N23B Revenue Under Ex-Gov. Bello

In 2023, Kogi State, under the leadership of former Governor Yahaya Bello, allocated a significant portion of its revenue to debt servicing. The state spent a total of N17,662,200,367.88 to repay domestic and foreign loans, which amounted to nearly 74% of its total internal revenue of N23,658,077,029.33 during the same period.

According to the State Auditor General’s Report for 2023, a substantial N8,518,202,244.77 was used specifically for interest payments on domestic loans. Despite these large expenditures on debt repayment, the state faced limited financial resources for other development needs.

Yahaya Bello, who served as Kogi’s governor from 2016 to 2024, is now under investigation by the Economic and Financial Crimes Commission (EFCC) for alleged corruption and fraud. Recently, his bail application was rejected by Justice Maryann Anenih of the Federal Capital Territory High Court, who ruled that it had been prematurely filed.

Bello, a member of the All Progressives Congress (APC), has pleaded not guilty to 16 charges brought against him, including accusations of mismanagement of state funds and abuse of office. His case is scheduled for further hearing, and he remains in the custody of the EFCC.