The newly elected governor of Kano State, Abba Kabir Yusuf, took over from the outgoing governor, Abdullahi Ganduje, who left behind N241.5 billion debt obligation.
The handover notes were given to the new governor on Monday morning at the Government House in Kano by the outgoing governor, who was compelled to miss it and was represented by the state’s secretary, Alhaji Usman Alhaji.
In his brief summary of the report detailing the state government’s operations from 2015 to 2023, he described how the N241.7 billion debt obligation was accrued.
The state’s expenditures from June 2015 to May 2023 show a total recurring commitment of N660.3 billion, a total capital and expenditure of N540.6 billion, and a total cumulative spending of N1.2 trillion, according to Governor Ganduje.
“There are other MDAs that have significant bank balances.
“These include Kano Energy and Hydro Power Energy, which have N740m, Kano Energy and Hydro Power Energy also have N703m; and N4b is expected next Tuesday.
“There is also the Kano State Contributory Healthcare Agency, which has N4.3b, and then the Kano State Agricultural Company, KASCO, which has N837.7m.
“The current state debt profile is expressed hereunder, the Kano State Banking Funds Trustees have an accumulated amount of N75.6b for Kano State, which is N9.2b; for local government, it is N66.3b, that’s what gives a total of N75.6b.
Tax deductions and the N4.5 billion pension contract liability are further factors. The overall stock of debt, including internal and foreign, is N123.3 billion.
“So the total liability as of December 31, 2023, stands at N241.5b.”
The newly elected governor, Abba Kabir Yusuf, said in a statement shortly after signing and receiving the report that it is distressing for the previous governor, Ganduje, to have left behind such a burden for the people of the state.
Additionally, he explained why he couldn’t have agreed to the former governor Ganduje’s handing over on May 28th, claiming that doing so would have violated the Federal Republic of Nigeria’s constitution.
“It is so disheartening to hear that the state government left a debt of over N241 billion. Where are we going to source the money?
“The internally generated revenue is nothing to write home about.
“I’m sorry, I just have to express that so that the good people of the state will understand our predicaments.
” The monies that were released or realised by the service are nothing to write home about.
“Why the use of consultants? So many consultants drain the resources of the people of the state.
“We are going to look at it. We are going to look at it; I am not satisfied.
“However, we thank His Excellency the former governor for all the services he rendered to the good people of the state according to his inner thinking,” he stated.
