Adamawa cuts debt by 41.5% from ₦128bn to ₦75bn under Fintiri

By Emmanuel Kwada

Adamawa State has recorded a significant reduction in its domestic debt profile, dropping sharply from ₦128 billion in December 2023 to ₦75 billion by September 2025 — a decline of ₦53 billion or 41.5 percent — under the second-term administration of Governor Ahmadu Umaru Fintiri.

The figures highlight a focused effort to ease the state’s naira-denominated liabilities while maintaining a relatively stable external debt position.

Foreign debt edged marginally lower from approximately $100.9 million to $100 million over the same period, indicating that the debt relief was driven primarily by aggressive management of local borrowings rather than changes in foreign-currency obligations.

This achievement comes amid broader improvements in state finances following the federal government’s removal of petrol subsidies and foreign exchange reforms.

These policy shifts have boosted revenues from the Federation Account Allocation Committee (FAAC), with many states — including Adamawa — benefiting from higher federation transfers.

Some states have also recorded gains in internally generated revenue (IGR), providing additional fiscal space for debt servicing and repayment.

Governor Fintiri’s administration has consistently emphasised fiscal discipline, prudent resource management, and debt restructuring since assuming office in 2019.

The latest reduction builds on earlier efforts that saw the state repay a substantial portion of inherited debts, improving liquidity and creditworthiness.

The debt reduction is seen as a positive indicator of financial re-engineering in the state, especially as Adamawa continues to implement development projects across key sectors while maintaining responsible borrowing practices.

As of late 2025, the Fintiri administration has also been recognised for ranking among the top states in fiscal transparency and ease of doing business, further reinforcing its commitment to sound economic governance.