Kogi news online, bello
Kogi state governor Yahaya Bello Photo: Kogireporters

Kogi government spends N840 million monthly to service loans inherited from past administrations in the state, Concise News understands.

This online news medium gathered that the Kogi State House of Assembly Speaker,  Matthew Kolawole, revealed this on Thursday.

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Kolawole spoke in Lokoja during a media parley with members of the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ).

According to him, the money was sourced from the state’s allocation from the Federation Account.

He noted that Governor Yahaya Bello’s government inherited huge debts from loans gotten by past administrations in the state.

This is as he revealed that the loans accrued during the tenure of Idris Wada when the figure for servicing was about N700m.

The speaker added that amount rose to N840 million with the loans gotten by the regime before the present one.

“The governor is presently working out plans to clear all outstanding salaries owed to state government workers in the next two months,” he said.

“It is not easy to run a state like Kogi with a huge debt profile, and so Gov. Bello is doing his best to uplift the living standard of its inhabitants.”