KADUNA PAYS ₦6.7BN MONTHLY ON INHERITED DEBT, SAYS UBA SANI

Kaduna State Governor, Uba Sani, has disclosed that the state government pays about ₦6.7bn every month to service loans inherited from the previous administration.

Sani made the disclosure during an appearance on Channels Television’s Politics Today, explaining that the monthly repayment is deducted from the state’s Federation Account Allocation Committee revenue.

According to the governor, the debt repayment obligation is expected to continue until 2048, placing a long-term financial responsibility on the state government.

Sani, however, said his administration had not taken any new loan since assuming office in May 2023. He maintained that the government had focused on prudent financial management despite the substantial debt burden inherited from the previous administration.

The governor said records with the Debt Management Office could be used to verify the state’s debt position and the monthly repayment obligations.

He explained that managing the state’s finances required careful decisions about where available resources were invested, stressing that government had to prioritise projects and programmes capable of delivering meaningful benefits to residents.

Sani also expressed appreciation to President Bola Tinubu for what he described as support to Kaduna State, while insisting that his administration’s claims about the state’s finances were based on available data and statistics.

The governor’s disclosure has again drawn attention to the financial obligations facing Kaduna State, particularly the effect of inherited loans on the resources available for infrastructure, social programmes and other development priorities.

Despite the debt burden, Sani said his administration had remained committed to responsible financial management and had avoided additional borrowing since taking office.

The Kaduna Government is therefore expected to continue servicing the inherited loans while implementing its development programmes with the resources available to the state.