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🇳🇬 Nigeria /Economy & Trade

Kaduna Governor Claims No New Loans Since 2023, Pays N6.7bn Monthly Debt

From The Punch · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Kaduna State Governor Uba Sani stated his administration has not taken any new loans since assuming office in May 2023.
  • The state is reportedly paying approximately N6.7 billion monthly to service debts inherited from previous governments.
  • Governor Sani highlighted efforts in agriculture, education, infrastructure, skills development, and security, including identifying and enrolling out-of-school children.

Kaduna State Governor Uba Sani asserted that his administration has not incurred any new debts since taking office, despite the significant monthly expenditure required to service inherited obligations.

Speaking on Channels Television's Politics Today, Governor Sani stated, "Since I became governor, I’ve not borrowed one kobo." He explained that his administration, which began in May 2023, has prioritized prudent resource management while continuing to meet the debt servicing commitments left by previous governments. Kaduna currently allocates around N6.7 billion each month solely for servicing these inherited loans.

"It's about being prudent. It's about selecting or being very careful in where you invest the money," Sani said, explaining the decision to avoid new borrowing. This approach, he noted, involves prioritizing expenditures and directing available resources toward initiatives that offer the greatest benefit to the state's residents.

Since I became governor, I’ve not borrowed one kobo.

— Uba SaniKaduna State Governor stating his administration's borrowing policy.

The governor also detailed his administration's progress in key sectors, including agriculture, education, infrastructure, skills development, and security. He specifically mentioned a household-mapping exercise that identified approximately 550,000 out-of-school children across Kaduna State. The initiative has since facilitated the return of over 300,000 children to classrooms, with ongoing efforts to enroll the remaining ones. Sani emphasized that this data-driven approach allows for more targeted interventions.

Sani maintained that the combination of increased revenue and stringent financial management has enabled Kaduna to fund its projects without resorting to additional borrowing. The governor's claim implies that while the state continues to manage debts accrued before his tenure, it has maintained a debt-free status for new borrowings since May 2023. The article notes that Uba Sani succeeded Nasir El-Rufai, who governed Kaduna from 2015 to 2023.

It's about being prudent. It's about selecting or being very careful in where you invest the money.

— Uba SaniExplaining the rationale behind his administration's financial management approach.
About this summary

Originally published by The Punch in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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