Kaduna Gov Announces How Much Debt He Inherited From El-Rufai and When It Will Be Fully Repaid
- Kaduna Governor Uba Sani revealed the state pays N6.7 billion every month from FAAC allocations to service a loan inherited before he took office
- Uba Sani said the repayment obligation will continue until 2048, describing the debt as verifiable through the Debt Management Office
- The governor claimed he has not borrowed any funds since assuming office, crediting prudent financial management for the state's progress
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Kaduna State Governor Senator Uba Sani has revealed that the state spends N6.7 billion every month servicing a debt it did not incur under his administration, with repayments expected to run until 2048.
The governor made the disclosure during a televised interview, where he was asked to assess his performance since taking office.
Source: Twitter
While acknowledging progress across sectors including agriculture, education, infrastructure, and skills development, he turned to the subject of debt to explain the financial constraints his government has operated under.
Kaduna's debt burden pre-dates Uba Sani
Uba Sani was direct about the origin of the debt.
"We are paying 6.7 billion every month from our FAAC, which will continue until 2048," he said.
He added that the figures are on record at the Debt Management Office and can be independently verified.
He stressed that the burden falls on the state's monthly Federation Account Allocation Committee (FAAC) receipts, meaning a significant portion of what Kaduna receives from the federal pool goes straight to loan repayment before any spending decisions are made.
Despite this, the governor was firm that his administration had not added to the problem.
"Since I became governor, I have not borrowed one kobo," he said, framing the restraint as a deliberate policy built on prudence and careful prioritisation of spending.
Governor credits fiscal discipline for progress
Uba Sani argued that the key to managing a state saddled with inherited obligations lies in how available resources are deployed.
He said leaders must make hard choices about where to invest public money rather than lamenting what they met on assuming office.
He declined to dwell on the difficulties he inherited, saying he did not want to be seen as complaining about past administrations. Instead, he pointed to the state's record in key sectors as evidence that progress is possible even under tight fiscal conditions.
The governor also said his administration's approach is grounded in data and verifiable statistics, inviting scrutiny of any claims he makes in public.
He encouraged anyone who doubted the debt figures to check directly with the Debt Management Office.
FG announces no plan to seek new IMF loan
Previously, Legit.ng reported that Nigeria announced no immediate plans to seek financial assistance from the International Monetary Fund, as ongoing domestic reforms continue to strengthen the country’s economic position, Finance Minister Wale Edun said on Thursday, August 20.
Speaking at a briefing of African finance ministers during the IMF and World Bank Annual Meetings in Washington on Friday, April 17, Edun said policy reforms implemented over the past two years had restored credibility and improved resilience against global economic shocks.
Source: Legit.ng
