Within Six Months: Gov. Buni Slashes Yobe’s Domestic Debt By Over N4bn

Within Six Month: Gov. Buni Slashes Yobe’s Domestic Debt by Over N4bn

— Pledges Continued Infrastructure Development Amid Economic Discipline

By Hussaini Ibrahim Sulaiman

Governor Mai Mala Buni of Yobe State has recorded a significant milestone in the state’s financial management, slashing thea state’s domestic debt by 9.07% in the fourth quarter of 2024.

According to figures released by the Debt Management Office (DMO), Yobe’s domestic debt stock dropped from ₦46.25 billion as of June 30, 2024, to ₦42.06 billion by December 31, 2024—a reduction of more than ₦4.19 billion in just six months.

This development positions Yobe among the states with the lowest domestic debt burden in Nigeria, underscoring the Buni administration’s commitment to fiscal prudence, transparency, and economic discipline.

The reduction is expected to ease fiscal pressure on the state’s finances, particularly in debt servicing, thereby freeing up resources for critical sectors such as health, education, and infrastructure.

Despite adopting cost-cutting strategies, Governor Buni’s administration has continued to push forward with major infrastructure projects across the state, reflecting what many analysts describe as a balanced approach to governance—one that pairs responsible fiscal policies with tangible development.

“This achievement reflects the governor’s frugal and compassionate leadership style,” said Yusuf Ali, the Senior Special Assistant on Digital and Strategic Communications. “It shows that with the right priorities, we can grow sustainably without mortgaging the future.”

Observers say Buni’s strategy could serve as a model for other states grappling with rising debt burdens amid dwindling federal allocations and economic challenges.

As the state moves into 2025, stakeholders will be watching to see how Yobe leverages its leaner debt profile to boost inclusive growth and improve living standards for its citizens.