Ogun State commissioner for Finance, Dapo Okubadejo, says the state is economically viable to carry its debt burden.
has blamed the state’s current huge debt on the rise in the exchange rate of a dollar to a naira.
Mr Okubadejo said, “Sometimes we are penny wise and pound foolish. We need to change our mind-set about debt because it is just looking so political. Mr Adebutu further stressed that the domestic debt rose from N155.57 billion in 2021 to N241.78 billion by June 2022. Mr Okubadejo who doubles as the Chief Economic Adviser to Governor Abiodun said, “Obtaining loans shouldn’t be a problem, but the judicious use of the loan.”
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