Governor Uba Sani of Kaduna State says his administration inherited a debt burden of $587 million, N85 billion, and 115 contractual liabilities from former governor of the state, Nasir El-Rufai.
Sani, who disclosed this in Kaduna on Saturday while addressing a town hall meeting, said the huge debt burden was eating deep into the state’s federal allocation.
The governor explained that due to the rise in the exchange rate, the state is now paying back almost triple of what was borrowed by the previous administration.
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.
He further lamented that the state was left with N3 billion, an amount he said was not enough to pay salaries, as the state’s monthly salary bill stands at N5.2 billion.
The governor said despite the debt inherited, his administration had not borrowed “a single kobo” in the last nine months of his government.
“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 said.
The governor further said the key priority areas of his government include safety and security, housing, education, healthcare, and support for Micro, Small, and Medium Enterprises(MSMEs).
Sani said his government would also prioritise inclusive development by investing in human capital, stimulating the economy, and providing affordable housing.
