Delta State has seen its debt reduced from a high of N465 billion to N199.575 billion, the most significant reduction among all 36 states, according to official data from the Debt Management Office (DMO).
This represents a repayment of N265.425 billion during Governor Sheriff Oborevwori’s tenure. DMO figures indicate that approximately 42.79 percent of the original debt remains.
The DMO reported Delta’s total debt as N465 billion in March 2024. However, by July 2024, N130 billion had been repaid. This decrease is attributed to Governor Oborevwori’s proactive debt management, including a freeze on new borrowing. Increased funds from the Federation Account, due to the Naira’s devaluation against the US Dollar, were used to pay off existing loans. The DMO’s December 2025 data shows the outstanding balance as N199.575 billion.
In total, the Governor has repaid over N266 billion of the N465 billion debt he inherited upon taking office on May 29, 1999. Governor Oborevwori has not taken on new loans while still funding numerous capital projects.
This contradicts a false report by an online publication that claimed the state obtained an additional N25 billion domestic loan.
Felix Ofou, Executive Assistant to Governor Oborevwori on New Media, clarified in January that this amount was a guarantee for a loan to local government areas to settle outstanding retirement payments and allowances.
Delta State’s debt is projected to decrease substantially before the end of 2025. The government has also increased efforts to improve its internally generated revenue (IGR).
READ:https://naijanewswatch.com/delta-state-governor-rt-hon-sheriff-oborevwori-expressed-his-optimism/
Governor Oborevwori has initiated major capital projects, including a N78 billion contract with Julius Berger for the construction of three flyover bridges in Warri. He has also allocated at least N2 billion for road construction in each of the 25 LGAs in the state, and is continuing inherited projects like the 169km Ughelli-Asaba federal highway.
