Debt: Kaduna State Government Denies Borrowing $17.9 million

By: Asma’u Halilu, Kaduna

Government of Kaduna State has denied claims making the rounds that it had secured the sum of $17.9 million worth of loan, clarifying that the state has not borrowed the reported sum.

The Commissioner of Finance, Shizzer Bada stated that the borrowing claim was false and fabricated, urging the public in a statement made available to newsmen in Kaduna to disregard the handiwork of malicious individuals intent on undermining Governor Uba Sani’s administration.

Bada said “We categorically did not borrow the reported amount or any other sum. These claims are entirely fabricated. It’s essential to understand that borrowing by sub-national entities in Nigeria is governed by a robust framework.”

She further disclosed that the Debt Management Office (Establishment, Etc.) Act, 2003, mandates prior approval by the National Assembly for any external loan.

“The Fiscal Responsibility Act, 2007, mandates a Federal Government guarantee for foreign currency borrowing, ensuring prudent financial management. With these legal safeguards in place, the allegations of borrowing $17.69 million by the state government holds no merit. Governor Uba Sani’s administration has not pursued any new borrowing endeavors,” she stressed.

Bada urged the public to dismiss what she described as erroneous reports and cautioned against succumbing to misinformation, reaffirming the administration’s commitment to transparency and fiscal responsibility.

Olusola Akintonde