By Atoyebi Nike
The Minister of Budget and Economic Planning, Abubakar Bagudu, says the 19 Northern states have recorded a 42.06% drop in debt falling from ₦1.98 trillion to ₦1.14 trillion under President Bola Tinubu’s economic reforms.
Bagudu disclosed this during a government-citizen engagement in Kaduna, hosted by the Sir Ahmadu Bello Memorial Foundation. He said overall state debt in Nigeria dropped by 33.4% to ₦3.8 trillion, highlighting what he called “real gains” from the Renewed Hope Agenda.
He noted that monthly federal allocations to states and local governments surged from ₦458.81 billion in May 2023 to ₦991.81 billion by June 2025 an increase of over 116%. Gombe and Kaduna were cited as states that saw over 250% growth in monthly allocations.
Bagudu attributed the gains to key reforms, including fuel subsidy removal and increased oil revenue remittance. “States now have the means to invest in their future,” he said.
He also listed infrastructure projects in the North—such as road dualizations, rail lines, and the AKK Gas Pipeline and noted over 1,000 upgraded health centres and millions of maternal health interventions.
The event, themed “Assessing Electoral Promises,” was attended by top federal officials, including SGF George Akume, ministers from the North, and governors.
