The Kaduna State Government has denied recent claims that it borrowed N36 billion in the last six months, calling the report false and misleading.
Mukhtar Ahmed, the Commissioner for Planning and Budget, disclosed in an official statement that the government is currently repaying loans inherited from the previous administration under Nasir El-Rufai.
Ahmed explained that due to the sharp devaluation of the Naira, the state is now paying almost three times more than the original loan amounts.
The Commissioner clarified that the debt burden consists of long-term loans taken by the previous administration, including programmes like AGILE, SURWASH, and ACReSAL, which were agreed upon before Governor Uba Sani took office in 2023.
He emphasised that no new loans have been taken under Governor Sani’s leadership.
“Loan agreements from the past, based on exchange rates of ₦415-₦480 to the dollar, have now been dramatically affected by the Naira’s fall to over ₦1,600 to the dollar, effectively tripling the value of these debts in local currency,” he explained.
The government also criticised the online platform that published the loan claim, accusing it of failing to seek clarification and spreading misinformation.
Ahmed referred to the actions of the platform as “digital terrorism” and said it was aimed at diverting attention from ongoing investigations into the previous administration’s financial mismanagement.
The Kaduna State Government restated its commitment to transparency and responsible financial management. It assured citizens that it would continue working to strengthen the state’s economy without taking on new financial burdens, and it will hold accountable those involved in misusing state resources.
