8 months ago
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The Governor of Kaduna State, Uba Sani, has said despite inheriting a massive $587 million, N85 billion debts and 115 contractual liabilities from the immediate past administration, he has not borrowed any money in the last nine months.
The governor explained that the huge debt burden is eating deep into the state’s Federal Allocation.
He stated this in Kaduna on Saturday while addressing a Town Hall meeting.
According to Sani, the state is now paying back thrice what it borrowed due to the rise in exchange rate.
He lamented that seven out of the N10 billion Federal Allocation for Kaduna state in March was deducted to service the debt.
The governor also disclosed that the state was left with N3 billion, an amount which is not enough to pay salaries standing at N5.2 billion.
He, however, assured that despite the debt burden, his administration remains resolute in steering Kaduna towards progress and sustainable development.
He said, “Despite the huge debt burden of 587 million Dollars, 85 billion Naira, and 115 Contractual Liabilities sadly inherited from the previous administration, we remain resolute in steering Kaduna State towards progress and sustainable development. We have conducted a thorough assessment of our situation and are sharpening our focus accordingly.
“It gladdened my heart to inform you that, despite the huge inherited debt on the state, to date, we have not borrowed a single kobo.
“The Key priority areas of our government include Safety and Security, Housing, Education, Healthcare, and Support for Micro, Small, and Medium Enterprises (MSMEs). We are also prioritizing inclusive development by investing in human capital, stimulating the economy, and providing affordable housing.”
