By Pius Mordi
From a peak of N465 billion, Delta State’s debt profile has now dropped to N199.575 billion, the largest reduction among the 36 states, according to official data from the Debt Management Office (DMO).
In effect, the state has repaid N265.425 billion under Governor Sheriff Oborevwori’s watch. By the DMO figures, only about 42.79 percent of the debt is now left to be paid by the Governor.
By March 2024, the DMO had listed Delta as cumulatively owing N465 billion. However, by July 2024, N130 billion had been paid, a product of Governor Sheriff Oborevwori’s aggressive drive to wean the state from debt overhang, through a freeze in borrowings.
While offsetting existing loans with the increased allocation from the Federation Account as a result of the devaluation of the Naira against the United States Dollar, the balance of N199.575 billion as published for December 2025 by the DMO.
In sum, the Governor has paid more than N266 billion of the N465 billion he inherited on taking over the reins of government on May 29, 1999. Oborevwori has refrained from obtaining fresh loans while still executing many capital projects.
This is contrary to a report by an online journal which falsely claimed that additional domestic loan of N25 billion was obtained by the state.
As explained in January by Felix Ofou, Executive Assistant to Governor Oborevwori on New Media, the amount was the guarantee for a loan to enable local government areas to clear the arrears of retirement payments owed retirees and allowances.
Delta State’s debt profile is projected to drop considerably before the end of 2025. Efforts have been intensified to increase the internally generated revenue (IGR) for the state.
Oborevwori flagged off major capital projects investment with a N78 billion contract to Julius Berger for the construction of three flyover bridges in Warri.
He also allocated at least N2Bn for construction of roads in each of the 25 LGAs in the state, apart from upswing in inherited projects like the 169km Ughelli-Asaba federal highway.
