Governor Sani Uba of Kaduna State revealed that he inherited a substantial debt burden of $587 million, N85 billion, and 115 contractual liabilities from his predecessor, Nasir El-Rufai’s administration. He highlighted the detrimental impact of this debt on the state’s finances during a town hall meeting held on Saturday, March 30, where he provided an overview of his 10-month stewardship.
Expressing concern over the exchange rate fluctuations, Governor Sani noted that the state is now repaying almost triple the amount borrowed by the previous administration due to currency devaluation. He cited an instance where N7 billion out of the N10 billion federal allocation for March was deducted to service the state’s debt, leaving only N3 billion available. This amount, he emphasized, falls short of the N5.2 billion required for monthly salary payments.
Despite these financial challenges, Governor Sani reiterated that his administration had refrained from borrowing any additional funds in the past nine months. He affirmed his commitment to steering Kaduna State toward progress and sustainable development despite the significant debt burden inherited.
The town hall meeting saw the participation of various stakeholders, including traditional rulers, religious leaders, politicians, members of Organised Labour, civil society organizations, youth, and women groups. Notable attendees included former Kaduna State governor Ramalan Yero, former Chief of Defence Staff General Martin-Luther Agwai, members of the Kaduna State Executive Council, and members of the House of Assembly led by Speaker Yusuf Liman.
