By Kunle Odusola-Stevenson Ondo State has just been ranked the least indebted state in the South-West — a rare fiscal achievement in an era of reckless borrowing by many sub-nationals. With a domestic debt of just ₦11.76 billion as of Q1 2025, compared to Lagos’ ₦874 billion and Ogun’s ₦190 billion, Governor Lucky Aiyedatiwa’s administration may be tempted to showcase this as evidence of exemplary prudence. But here lies a deeper paradox: low debt is not automatically good governance. In economic development, productive borrowing is often the engine of progress…
Read MoreWHY ONDO’S “LEAST INDEBTED” CROWN IS ACTUALLY A BADGE OF ECONOMIC FAILURE
