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Kaduna Governor Sani says inherit $587 mln, N86 bln debt from predecessor, decries debt burden

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Governor Uba Sani of Kaduna State has revealed the staggering debt burden he inherited from the previous administration led by Nasir El-Rufai.

Speaking at a recent town hall meeting, Governor Sani highlighted that the state was grappling with a debt of $587 million, along with N85 billion and 115 contractual liabilities.

He expressed concerns over the impact of this hefty debt on the state’s federal allocation, emphasising the need for prudent management of resources.

Addressing a diverse audience, including traditional rulers, religious leaders, politicians, labour representatives, civil society organisations, and various interest groups, Governor Sani reiterated his commitment to navigating Kaduna State towards progress despite the financial challenges.

Notable figures such as former governor Ramalan Yero and ex-Chief of Defence Staff General Martin-Luther Agwai were among those present at the gathering, underscoring the significance of the discussion.

Accompanied by his deputy, Hadiza Balarabe, Governor Sani provided insights into the state’s revenue profile and outlined key priority areas for his administration.

These priorities encompassed critical sectors such as security, housing, education, healthcare, and support for micro, small, and medium enterprises.

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The governor emphasised the importance of prudent fiscal management and the efficient utilisation of available resources to drive sustainable development.

During the meeting, the Commissioner of Finance, Shizzer Bada, delivered a presentation elucidating the state’s federal allocation and the deductions required to service the inherited debt.

Additionally, the Budget and Planning counterpart, Muktar Ahmed, shed light on the contractual liabilities arising from projects abandoned by contractors who had received payment under the previous administration.

Despite the formidable challenges posed by the debt burden and contractual liabilities, Governor Sani reassured the citizens of Kaduna State of his unwavering commitment to steering the state towards progress and sustainable development.

With a focus on effective governance, transparency, and accountability, the administration aims to overcome obstacles and foster inclusive growth for all residents of Kaduna State.

Governor Uba Sani’s acknowledgment of the state’s financial realities and his proactive approach to addressing them underscore a commitment to responsible leadership and prudent resource management.

As Kaduna State navigates through these challenges, the governor’s vision for progress offers a beacon of hope for the future prosperity of the state and its people.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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