Prominent gubernatorial aspirant for the All Progressives Congress (APC) in Edo State, retired General Charles Airhiavbere, has cautioned Governor Godwin Obaseki on the state’s financial situation, urging a restraint in taking further loans as Edo grapples with its position as the 5th most indebted state in Nigeria.
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, and “the government’s increasing inability to properly manage the debts.”
In a statement released on Sunday, 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 of being 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 said his caution is coming 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.
