Governor Sani revealed that the huge debt burden was eating deep into the state’s Federal Allocation as the state had yet to borrow money in the last nine months of his government.
Kaduna State Governor, Uba Sani, who is also OrderPaper’s Most Valuable Parliamentarian (MVP) in the 9th Assembly on Saturday, revealed that he inherited a huge debt burden of $587 million, N85 billion, and 115 contractual liabilities from the previous administration, making it difficult for him to pay workers’ salaries now.
Governor Sani made this known while addressing a Town Hall Meeting at the late Umaru Musa Yar’Adua Hall, Kaduna.
He reiterated that the state had yet to borrow money in the last nine months of his government, saying the huge debt burden was eating deep into the state’s Federal Allocation.
Sani stated further that the rise in the exchange rate has resulted in the repayment of almost triple what was borrowed by the administration of Nasir El-Rufai.
According to him, N7billion out of the N10billion Federal Allocation for the state in March was used to service debt lamenting that the state was left with N3billion, an amount which he said was not enough to pay salary as the state monthly wage bill stands at N5.2billion
He assured the people of the state that his administration remained determined to steer the state towards progress and sustainable development, as the government has conducted a thorough assessment of the situation and was sharpening its focus accordingly.
He said, “Despite the huge debt burden of $587m, N85bn, 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 gladdened my heart to inform you that despite the huge inherited debt on the state to date, we have not borrowed a single kobo.”
