Kaduna State Governor, Uba Sani, revealed that his administration suffered a significant setback due to a massive debt burden inherited from the previous administration of Nasir El-Rufai.
The burden, according to Governor Sani, included $587 million, N85 billion in debts, and 115 contract liabilities.
Governor Sani made this statement while addressing a town hall meeting in Kaduna on Saturday. He emphasised that this huge debt was impacting the state’s federal allocation.
According to him, the state was now repaying nearly three times the amount borrowed by the previous administration due to fluctuations in the exchange rate. As evidence, he noted that N7 billion out of the N10 billion federal allocation for the state in March was deducted to service the state’s debt.
The governor expressed further concern that the state was left with only N3 billion, an amount insufficient to cover workers’ salaries, given that the state’s monthly salary bill amounted to N5.2 billion.
Governor Sani maintained that despite the inherited debt burden, his administration had not ventured into any debts during the nine months of governing the state.
His words:
“Despite the huge debt burden of $587 million, N85 billion, 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 gladdens my heart to inform you that despite the huge inherited debt on the state, till date, we have not borrowed a single kobo,” he stated.
The governor outlined the key priority areas of his government, which include safety and security, housing, education, healthcare, and support for Micro, Small, and Medium Enterprises (MSMEs). He affirmed that his government would prioritise inclusive development by investing in human capital, stimulating the economy, and providing affordable housing.
He further highlighted some of his administration’s top priorities for 2024, including safety and security, infrastructural development, education, housing and urban development, social intervention, and investment drive.
Former governor of Kaduna Nasir El-Rufai governed the state for eight years (2015 – 2023), before handing over the mantle of leadership to Uba Sani on May 29, 2023.