Yobe State Repays ₦39 Billion Out of ₦96 Billion Debt in One Year

The Yobe State Government has announced the repayment of ₦39 billion out of a total ₦96 billion borrowed from financial institutions, marking significant progress in debt reduction within the past year.

This was disclosed by Muhammad Rabiu Ibrahim, Head of the Debt Management Unit at the Yobe State Ministry of Finance, during a sub-national stakeholders’ engagement and statewide town hall meeting in Damaturu. The event was organized by the Presidential Enabling Business Environment Council (PEBEC).

According to Ibrahim, the repayment was made between the first quarter of 2024 and the first quarter of 2025, reflecting the state government’s commitment to fiscal responsibility and efforts to revitalize the local economy.

He emphasized that reducing the debt burden is a key part of the administration’s strategy to attract investors and restore economic stability. “The state is dedicated to minimizing its debt profile and now exercises strict oversight over new borrowings,” Ibrahim stated.

He further explained that any borrowing by the state—whether from internal or external sources—must first be vetted by the Public Debt Management Unit to ensure transparency and accountability.

Also speaking at the event, Zahrah Mustapha Audu, Director General of PEBEC, noted that the town hall meeting was organized to evaluate the state’s progress in implementing business-enabling reforms and to strengthen collaboration with national economic development goals.