News

Building on Strong Foundation: Governor Ododo’s Fiscal Strategies for Kogi State

Published

10 months ago

July 24, 2024

It was a historic and momentous occasion for the good people of Kogi State when His Excellency, Alhaji Ahmed Usman Ododo, took over the reins of leadership as the Executive Governor of Kogi State on January 27, 2024.

Governor Ododo assumed office from his esteemed mentor, His Excellency, Alhaji Yahaya Adoza Bello, after successfully serving out his eight years of unprecedented achievements that spanned various sectors of the state.

Ododo, having diligently served in the two terms of Yahaya Bello’s administration as the Auditor-General for Local Governments, is no stranger to the policy thrust and strategic focus of his predecessor and mentor.

Just like his predecessor, Ododo is not merely a thoroughbred accountant but also a Certified Public Accountant of notable repute and distinction.It is, therefore, not surprising that Governor Ododo, in the last seven months of his transformative leadership, has continued to sustain and build upon the gains Yahaya Bello’s eight-year tenure made in the areas of fiscal policy on debt servicing and boosting internally generated revenues (IGR) in the state.

Continuing the Legacy of Debt ServicingGovernor Yahaya Bello’s administration was marked by a rigorous and meticulous approach to debt management, having inherited a humongous and daunting debt from the previous PDP administrations. Recognizing the crippling effects of unchecked debt on economic development, Bello implemented forward-thinking policies that prioritized debt servicing to ensure the state did not fall into deeper financial distress.

This prudent approach not only stabilized Kogi State’s finances but also laid a solid and enduring foundation for sustainable economic growth.

Recall that in November 2022, Kogi State under Governor Yahaya Bello won the prestigious World Bank’s Awards of Excellence in three categories – Fiscal Transparency and Accountability, Debt Sustainability, and Domestic Revenue Mobilization.

These esteemed awards were conferred on the state at the Federal Government of Nigeria/World Bank States Fiscal Transparency, Accountability, and Sustainability (SFTAS) dinner with governors/award night held at Transcorp Hilton, Abuja.

The objective of the World Bank’s State Fiscal Transparency, Accountability, and Sustainability Programme is to promote the focus and attention of Nigerian states towards the improvement of their Public Financial Management (PFM) systems, processes, and institutions.

The then state’s auditor-general, Yakubu Okala, who spoke to journalists after the ceremony, attributed the success of the state in the areas of fiscal transparency and accountability to self-discipline, as well as the institution of a transparent and accountable governance system by Governor Yahaya Bello from the inception of his administration.

“The state is blessed with an incorruptible governor who also provides leadership from all fronts, a professional to the core that has surrounded himself only with persons that have the capacity to deliver”.

Governor Ododo has wisely chosen to uphold this illustrious legacy bequeathed by Yahaya Bello.

By continuing to prioritize debt servicing, Ododo ensures that the state maintains its financial credibility and avoids the pitfalls of excessive borrowing.

This unwavering commitment is evident in his administration’s careful and judicious allocation of resources towards meeting debt obligations promptly.

In doing so, Ododo is not only safeguarding the state’s financial health but also enhancing investor confidence, a crucial factor for attracting investment and fostering economic development.

Since assuming office and in line with his administration’s mantra of “continuity and consolidation”, Ododo has been prompt in the payment of salaries to workers at both local and state levels and also in meeting the contractual obligations to contractors handling various projects in the state.

According to the domestic debt data released by the Debt Management Office on September 30, 2020, the Kogi State government, through the astute leadership of former Governor Yahaya Bello, was able to reduce the state debt from a cumulative N132.5 billion in 2019 to N84.9 billion to N73,314,904,696.35.

The well-detailed data showed that the Kogi State government, under the stewardship of Ododo’s predecessor, through a well-structured fiscal policy and prudent management of the state’s scarce resources, reduced the state’s domestic debts by N59.15 billion.

Similarly, in the states’ domestic debt reduction data released by the Debt Management Office and published by one of the reputable online platforms, TheCable, on June 26, 2024, Kogi was among the top four states of the federation that have drastically reduced their domestic debt profile, bringing the state’s domestic debt figure from 121,808,350,345.34 in December 2023 to 38,552,462,453.80 as at June, 2024 In an effort to run a state free of debilitating debt, Ododo is showing his unwavering commitment to running a state that is not weighed down by burgeoning debts that could become an albatross for the development of the state.

With his eagle eye for detail and meticulous approach to public finances, Ododo has proved himself a formidable force to be reckoned with when it comes to the prudent management of state resources.

Enhancing Internally Generated Revenue (IGR)Governor Bello’s tenure saw significant strides in improving Kogi State’s IGR through innovative strategies and comprehensive reforms.

These efforts included expanding the tax base, improving tax collection efficiency, and leveraging technology to track and enhance revenue streams.

The result was a notable increase in the state’s IGR, providing a more stable financial base for developmental projects.

Before Bello’s emergence as Kogi Governor in 2016, the state was generating a paltry N350 million to N400 million as Internally Generated Revenue (IGRs) on a monthly basis.

The Bello administration, however, changed the narrative as the monthly IGRs of the state astronomically rose to over N1.3 billion before he left office.

Building on this solid foundation, Governor Ododo has also demonstrated a proactive stance in furthering IGR generation from what he met. Recent IGR posted by the state showed that the monthly average has risen significantly to N2 billion within just six months of his term in office.

This impressive increase is made possible through the prudent and transparent management of the revenue collection mechanism.

His administration has introduced a number of measures aimed at boosting local industries, supporting small and medium-sized enterprises (SMEs), and harnessing the state’s abundant natural resources.

By fostering an environment conducive to business growth and economic diversification, Ododo is driving Kogi State towards greater financial independence.

Moreover, Ododo’s focus on leveraging cutting-edge technology to streamline revenue collection processes is a testament to his forward-thinking approach.

The adoption of digital platforms for tax collection not only reduces leakages but also enhances transparency and accountability.

These measures are crucial in building public trust and encouraging voluntary compliance among taxpayers.

The Broader Economic ImpactGovernor Ododo’s steadfast dedication to sustaining and enhancing these key economic policies has far-reaching implications for Kogi State.

Effective debt servicing ensures that more resources can be allocated to critical sectors such as education, healthcare, commerce, agriculture, and infrastructure, driving overall development.

Simultaneously, increased IGR provides a stable revenue stream that can be reinvested into the state’s economy, creating jobs for the teeming youth, and improving the quality of life for its residents.

Additionally, by maintaining a stable and predictable economic environment, Ododo is positioning Kogi State as an attractive destination for both domestic and foreign investors.

This influx of investment is essential for the state’s long-term economic growth and development, paving the way for a more prosperous and vibrant future.

No doubt, Governor Usman Ahmed Ododo’s administration represents a continuation and enhancement of the economic policies initiated by Governor Yahaya Bello in the Kogi State 35-year Economic Roadmap.

By prioritizing debt servicing and aggressively pursuing strategies to boost IGR, Ododo is ensuring that Kogi State remains on a path of sustainable financial stability and growth.

With more funds being saved for the state, the Ododo administration has been able to embark on an ambitious infrastructural renewal effort at the local levels.

For instance, internal roads in major communities in the state are at various levels of completion.

These include roads in Egbe, (Yagba West); Aiyetoro-Gbedde, (Ijumu); Mopa (Mopamuro); Felele-Agbaja (Lokoja LGA); Oguma (Bassa LGA); Idah, (Idah LGA); Abejukolo, (Omala LGA), and Anyigba (Dekina LGA), among other projects.

Critical and capital projects such as infrastructure at the Kogi State University, Kabba, Confluence University of Science and Technology, Osara, and other host of inherited projects are not abandoned.

He is also making significant investments in the health, road infrastructure, and agriculture sectors of the state for the overall wellbeing of the citizens.

The governor has also been able to boost the security architecture of the state through the launch and funding of the Metropolitan Quick Response outfit in the state.

Ododo’s commitment to these policies not only secures the state’s economic future but also sets a benchmark for other states to follow.

In a region where financial prudence and innovative revenue generation are paramount, Governor Ododo’s approach stands as a beacon of effective governance and visionary leadership for others to emulate.

News

Is It Safe to Invest in Lagos Real Estate? Here’s What You Must Know by Dennis Isong

“Na bush you go buy?”

Published

3 hours ago

May 12, 2025

OCHEFA

In 2018, Chinedu bought a plot of land in Ibeju-Lekki for ₦600,000. At the time, his friends laughed.

“Na bush you go buy?” they teased. Even Chinedu had doubts, especially after struggling to locate the land twice.

But he had a gut feeling and decided to take the risk.Fast forward to 2024, Chinedu got a call from a developer building around the Lekki Free Trade Zone. They were interested in acquiring his plot.

The offer? ₦8.5 million. He thought it was a joke—until the cheque cleared.“I almost sold that land two years ago for ₦1.2 million because I was broke,” he told me, shaking his head with a smile.

“But something told me to wait.”Today, that same bush has a tarred road, power poles, and new buildings sprouting like mushrooms.

The value keeps rising, and Chinedu is already scouting for his next plot—this time in Epe.

His only regret?“I wish I bought three plots instead of one.”

That’s Lagos real estate for you. It looks like nothing at first—but if you play your cards right, it could be the best decision of your life.

Let’s not beat around the bush—Lagos real estate is hot cake.

Everyone seems to be talking about it, whispering about one land deal in Epe or a smart investment in Ibeju-Lekki.

The conversations are endless, and so are the questions. But the one that keeps bouncing from one corner of the room to another is this:Is it really safe to invest in Lagos real estate?Well, short answer? Yes.But let’s not stop at “yes.”

This is Lagos. Nothing is ever that simple. Before you pull out your wallet or empty your savings app, you need to know a few things that the billboards won’t tell you.

First, Why Is Everyone Rushing to Invest in Lagos Real Estate?

If Lagos were a person, it would be that loud, fast-talking cousin who always seems to have money flowing from one hustle or the other. Lagos is not just a city—it’s a mood, a movement, a madness that somehow makes financial sense.

It’s the commercial heartbeat of Nigeria. And where the heart beats, money flows.

From tech bros in Yaba to deep-pocket oil boys in Lekki, everyone is looking for where to park their money, and land is the new bank.

Real estate in Lagos has become the golden goose for the smart investor. And why not? Land here doesn’t sleep—it appreciates, sometimes with the arrogance of a billionaire who knows he can’t fail.

But Wait—Is It Safe?

Now, this is where it gets interesting. Lagos isn’t Disneyland. It’s not all shiny buildings and smiling agents. The truth is, there are landmines in the system—some figurative, some legal, and some spiritual (ask anyone who’s ever mistakenly bought “Omonile land”).

Yet, thousands of people are making solid money from it. Some have even become landlords from buying land they never visited. How is this possible? It all comes down to how you invest, where you invest, and who you’re dealing with.

The Shaky Past, The Bright Future

Let’s be honest: Lagos has had its fair share of land drama. The tales are plenty—fake documents, family land disputes, sudden demolitions. These stories are scary, yes, but they’re not the full picture.

Over the years, the Lagos real estate sector has matured, especially with government regulations, better documentation processes, and real estate firms who are finally doing things the right way.

This is not 1997 when you could buy land and discover later that the “agent” was actually a carpenter with a borrowed suit.

Today, with a bit of caution and proper due diligence, you can invest in Lagos real estate and sleep well at night—like a baby who just signed a deed of assignment.Lagos Is Expanding—And That’s a Clue.

News

BREAKING: NIN: FG increases date of birth update fee by 75% to N28,574

Published

20 hours ago

May 11, 2025

Charles Flames

Nigerians seeking to correct their date of birth on the National Identification Number (NIN) database will now pay N28,574, following a major upward review of service charges by the National Identity Management Commission (NIMC).

The new fee represents a 75 per cent increase from the previous charge of N16,340, making it the most expensive data modification service under the Commission’s revised price regime.

The change is part of a broader review of NIMC’s service fees, which the agency says is necessary to reflect current economic realities, including a national inflation rate of 32.70 percent, rising operational costs, and the need for self-sustenance.

Under the new structure, corrections to other personal details such as names, addresses, and gender now cost N2,000 per modification — up from N1,522, a 31 percent increase.

Re-issuance of the NIN slip, previously pegged at N500, will now attract a fee of N600.

Meanwhile, premium services offered at select enrollment lounges and visa centers will cost N20,000 for NIN enrollment, and N3,500 for re-issuance of slips.

For Nigerians in African countries, NIN enrollment now costs $50 for adults and $30 for children.

Data modifications cost $55 for date of birth changes, and $10 for other fields. Outside Africa, name corrections are charged at $60, with other data fields remaining at $10 per change.

In an executive summary accompanying the new pricing list, NIMC stated that the adjustments followed consultations across its departments and benchmarking against charges by other government agencies like the Nigeria Immigration Service and the Federal Road Safety Corps.

“For over a decade, our service charges remained stagnant despite expanding our infrastructure and service offerings.

This new price regime ensures we can maintain our systems, support national revenue goals, and align with global identity management standards,” the Commission said.

NIMC also cited its role in broader policy objectives such as tax unification, social interventions, and digital identity expansion.

While the Commission insists the fee hike is necessary, many Nigerians have expressed concern about the affordability of the new charges, particularly the high cost of correcting date of birth — an error that often arises from initial registration challenges in rural or crowded centers.

For instance, a fruit seller at Ojota, Lagos, Adaku Okafor, said an error was made in her daughter’s date of birth on the NIN slip.

While she had initially ignored it, the mistake has become critical as her daughter, now in SSS 2, prepares to sit for WAEC and JAMB.

“I am now forced to cough out almost N29,000 just to correct a simple mistake. This is so unfair, especially with the harsh economic reality we are all facing,” she lamented.

News

BREAKING: Two dispatch riders killed in Eko Bridge truck collision

Published

20 hours ago

May 11, 2025

Charles Flames

Two dispatch riders were confirmed dead on Sunday following a crash involving two Mack trucks on the Eko Bridge inward Alaka, Lagos.

According to preliminary reports, one of the trucks—identified by registration number T-10357 LA—was reportedly moving at high speed when the driver, suspected to have been dozing, lost control and rammed into another truck ahead, marked KJA 107 XM.

The impact caused a 20-foot container to detach and fall, crushing the two dispatch riders who were on the route at the time.

Officials of the Lagos State Traffic Management Authority (LASTMA), who were on routine monitoring duty under the bridge, responded quickly and rescued one injured truck driver.

He was transported to the hospital by a Lagos State Government ambulance. The other two truck drivers fled the scene, and efforts are ongoing to locate them.

In a statement, the General Manager of LASTMA, Olalekan Bakare-Oki, expressed condolences to the families of the victims.

He called the incident tragic and underscored the need for caution and alertness, particularly among drivers of articulated vehicles.

“Drivers must ensure they are fit to drive and that their vehicles are roadworthy before embarking on any journey,” he said, noting that LASTMA continues its public awareness campaigns to promote safety, especially among operators of heavy-duty trucks.

To prevent additional accidents, LASTMA officers cordoned off the affected section of the bridge and diverted traffic through the Costain Roundabout toward Alaka and the Stadium.

Other emergency responders at the scene included the Lagos State Emergency Management Agency (LASEMA), Lagos State Fire and Rescue Services, Lagos Neighbourhood Safety Corps, the State Environmental Health Monitoring Unit, and officers from the Iporin Police Division. Investigations into the incident are ongoing.