The Kaduna State Government, through the Ministry of Finance, has refuted claims of procuring a fresh $17.69 million loan. The state Commissioner for Finance, Shizzer Bada, clarified the government’s stance in a press statement issued on Thursday.
Bada emphasized that no borrowing of $17.69 million or any other amount had been undertaken during the present administration. She labeled the claims as entirely false and fabricated, urging for clarity on borrowing activities governed by a strict framework outlined in the Constitution of the Federal Republic of Nigeria.
Highlighting the legal provisions governing external borrowing by government entities, Bada cited the Debt Management Office (Establishment, Etc.) Act, 2003. According to her, this act mandates that no external loan can be approved or obtained without prior presentation of its terms and conditions to the National Assembly for approval.
Governor Uba Sani’s administration has not entered into any agreement or received any foreign loan as claimed, reiterated Bada.
The government urged the public to disregard the report and cautioned against succumbing to misinformation.
Recently, Governor Uba lamented the significant debt inherited from his predecessor, Nasir El-Rufai, during a town hall meeting in May 2023. He disclosed inheriting a total debt of $587 million, N85 billion, and 115 contract liabilities. Governor Uba further revealed that a substantial portion of the state’s March Federal Allocation was allocated to debt servicing, leaving insufficient funds to cover the state’s monthly wage bill of N5.2 billion.