AbdulRazaq credits Tinubu’s reforms for Kwara’s economic turnaround

Kwara State Governor AbdulRahman AbdulRazaq says the economic reforms introduced by President Bola Tinubu have improved the state’s finances and reduced its debt burden.

Speaking in Ilorin during the APC presidential primary on Saturday, AbdulRazaq said Kwara was facing severe financial difficulties when his administration came into office, noting that the state had little left after paying salaries during his first term.

“We were coming from an era of no payment of salaries and a near-collapsed economy,” the governor said. “In my first term, after paying salaries from federal allocation, all we had left was about N200 million.”

He attributed the improvement in the state’s finances to the federal government’s reforms, including the removal of fuel subsidy, which he said increased allocations to states and reduced dependence on borrowing.

According to AbdulRazaq, Kwara’s debt profile dropped from about N170 billion to roughly N49 billion within two years, allowing the state government to fund infrastructure and development projects.

“The economy is doing better, and that is why we need to sustain the policies to drive development across board,” he said.

The governor also said residents and visitors could now see visible improvements across the state due to increased investments in infrastructure and public projects.

Tinubu’s economic reforms, particularly the removal of petrol subsidy and exchange rate changes, have significantly increased revenues to state governments. However, many Nigerians continue to face rising living costs and economic hardship linked to inflation and higher fuel prices.

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