El-Rufai left 587 million Dollars and 85 billion Naira debt – Gov. Uba Sani
Oluwasegun SanusiMarch 30, 20241 Mins read1.5k 
Kaduna State Governor, Sen. Uba Sani, has disclosed a debt burden left behind by the previous administration led by Nasir El-Rufai.
Addressing a Town Hall Meeting at the late Umaru Musa Yar’Adua Hall in Kaduna, Governor Sani highlighted the dire financial deficit, citing a 587 million Dollars and 85 billion Naira debt, along with 115 contractual liabilities.
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, – Governor Sani noted.
Governor Sani emphasised the adverse impact of the debt burden on the state’s finances, revealing that a substantial portion of the Federal Allocation was being diverted towards debt servicing. “Due to the rise in the exchange rate, we are paying back almost triple what was borrowed by the administration of Nasir El-Rufai,” he remarked.
He further disclosed that a significant portion of the state’s March Federal Allocation, amounting to N7 billion out of N10 billion, was utilised solely for debt servicing, leaving a paltry sum for essential expenditures.
The state was left with N3 billion, which is insufficient to cover the monthly wage bill of N5.2 billion.
Despite the daunting challenges posed by the inherited debt burden, Governor Sani asserted his administration’s prudent financial management by revealing that no additional borrowing had been undertaken in the last nine months.
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.
About The Author
Related Articles
Senegal’s Power Cuts Force Government to Push Gas as the Long-Term Fix
Senegal’s energy minister says the power cuts that hit the country hard...
Ethiopia and Eritrea Cut Diplomatic Ties as Tigray Conflict Escalates
Ethiopia and Eritrea have severed diplomatic relations as renewed fighting in northern...
Tinubu Cannot Even Speak for Himself, Nigerians Say After Edited Broadcast Exposed
Nigerians on social media have accused the Presidency of manipulating President Bola...
Tinubu’s Cancer Analogy Backfires as Nigerians Remind Him He Was in Power Since 2015
President Bola Tinubu’s attempt to paint himself as the leader who inherited...