Airhiavbere, a retired military officer with a distinguished service record, expressed deep concern over the state’s current debt ranking by the Fiscal Responsibility Commission, in face of the government increasing inability to properly manage the debts.
In a statement released today, the immediate past Executive Director Finance and Administration of the NDDC, highlighted the alarming situation wherein the Edo state government is still entering into agreements and partnerships that involve substantial borrowing, despite the imminent end of Governor Obaseki’s tenure.
The retired General emphasized the need for prudent financial management and strategic planning to address the existing debt burden. According to Airhiavbere, the state’s current financial state demands a careful assessment of its obligations and a strategic approach to prevent further escalation of indebtedness.
“It is worrisome that Edo State currently holds the unenviable position ofbeing the 5th most indebted state in Nigeria. Taking additional loans at this juncture, especially as the tenure is concluding, could exacerbate the financial challenges faced by the state,” cautioned Airhiavbere.
The gubernatorial aspirant outlined his strategic financial approach, emphasizing a comprehensive debt audit, strategic debt restructuring, revenue diversification, cost optimization, and transparent fiscal governance. He believes that implementing these measures will not only alleviate the immediate financial pressures but also pave the way for sustainable development in Edo State.
Airhiavbere’s caution comes at a crucial time when Edo State is at the crossroads of fiscal decisions. He said he will address the root causes of the state’s indebtedness and ensure a responsible and effective financial management system when he becomes governor.
Governor Godwin Obaseki’s response to Airhiavbere’s counsel remains to be seen, but the call for prudent financial management echoes concerns shared by citizens and stakeholders alike. As Edo State navigates the complex terrain of economic challenges, the upcoming gubernatorial elections take on added significance as voters look to leaders capable of steering the state towards a financially stable and prosperous future.
