Oborevwori’s Administration Slashes Debt by 25%, Sets Stage for Sustainable Growth in 2025 Budget
By Emmanuel Enebeli
ASABA/Nigeria:
The Delta State Government has announced ambitious plans for inclusive growth and environmental sustainability as part of its preparations for the 2025 budget, while also revealing a significant reduction in the state’s debt.
The announcement was made during a stakeholders’ meeting held at Unity Hall, Government House, Asaba, where the Honorable Commissioner for Economic Planning, Mr. Sonny Ekedayen, outlined key priorities for the upcoming budget, focusing on job creation, infrastructure development, and social welfare improvement.
Honourable Commissioner for Economic Planning. Mr. Sonny Ekedayen, HRM Major General Felix Mujakpero (rtd.), the Orodje of Okpe and other Stakeholders.
During his address, Ekedayen emphasized the critical role of citizen participation in shaping the state’s economic agenda.
He noted that the input from traditional rulers, community leaders, and other stakeholders would ensure that the 2025 budget reflects the real needs of Deltans.
“This engagement ensures our budget priorities reflect the needs of our communities,” he remarked, reinforcing the administration’s commitment to transparency and inclusive governance.
A major highlight of the meeting was the announcement of the signing of a Memorandum of Understanding (MoU) between the Delta State Government, Serandib Capital Limited, and Eight Versa, a UK-based company.
The partnership, according to Ekedayen, is designed to harness the state’s abundant forest resources to create thousands of jobs through green economy initiatives. Describing the initiative as “novel and the first of its kind in this part of the world,” he explained that the project will focus on preserving the state’s forests while monetizing them through the harvesting of carbon credits.
This is expected to generate alternative revenue streams for the state, address environmental concerns, and provide employment opportunities.
In addition to the green economy focus, the commissioner disclosed that Delta State has made significant progress in reducing its debt stock. At the beginning of Governor Sheriff Oborevwori’s administration, the state’s debt stood at N465.3 billion. By June 2024, this had been reduced to N303.4 billion—a 25.3% reduction that Ekedayen hailed as a major achievement for the administration.
The Commissioner also highlighted the state’s impressive revenue performance, reporting that Delta generated N523.6 billion in the first half of 2024, representing 144.4% of the state’s budgeted revenue.
He underscored the importance of the citizens’ engagement forum, describing it as more than just an “annual ritual.” Beyond meeting World Bank requirements, he noted that the forum allows the government to align its priorities with the needs of the people.
“The Oborevwori administration takes the citizens’ engagement very seriously, ensuring that we prioritize the people’s needs for as long as resources allow,” he said.
Discussions at the meeting touched on critical areas such as security, small and medium-sized enterprises (SMEs), agriculture, waste management, and road infrastructure. The Commissioner assured participants that the 2025 budget would prioritize sectors like agriculture, electricity, debt repayment, and sustained infrastructural development.
The meeting was attended by traditional leaders and key stakeholders, including HRM Major General Felix Mujakpero (rtd.), the Orodje of Okpe.
