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🇳🇬 Nigeria /Economy & Trade

Taraba owes ₦85.5bn, not ₦1.2tn, Commissioner

From The Punch · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Taraba State's Finance Commissioner Sarah Adi refuted claims that the state's debt is ₦1.2tn, stating it is approximately ₦85.51bn.
  • Official Debt Management Office figures show Taraba's domestic debt was ₦85.51bn as of December 31, 2025.
  • The commissioner clarified that approved credit facilities and financing arrangements are distinct from the state's outstanding debt.

Taraba State's Commissioner for Budget and Economic Planning, Sarah Adi, has challenged claims that the state is burdened by a ₦1.2tn debt. During a fiscal briefing in Jalingo, Adi clarified that the state's actual domestic debt stock, according to the Debt Management Office (DMO), stands at approximately ₦85.51bn as of December 31, 2025. This figure represents a decrease from the ₦87.96bn reported prior to the current administration.

The official DMO figures therefore do not support suggestions that Taraba State’s recognised domestic debt stock has risen to anything approaching ₦1.2tn.

— Sarah AdiCommissioner for Finance, Budget and Economic Planning, Taraba State, refuting claims about the state's debt.

Adi explained that public discussions often confuse different financial figures, such as existing debt, approved credit facilities, and financing arrangements that have not yet been utilized. She pointed out that the DMO's March 2023 publication, which included figures as of September 30, 2022, does not support the notion of Taraba's debt approaching ₦1.2tn.

Regarding external debt, the commissioner stated that Taraba's obligations were approximately $46.47m as of December 31, 2022, increasing to about $48.04m by December 31, 2025. She acknowledged the exchange-rate risks associated with these foreign-currency obligations and assured that the state government remains mindful of fiscal sustainability.

The State Government remains conscious of exchange-rate risks associated with foreign-currency obligations and will continue to ensure that external financing is considered within the limits of fiscal sustainability and repayment capacity.

— Sarah AdiCommissioner for Finance, Budget and Economic Planning, Taraba State, on managing external debt.

The commissioner also addressed the ₦206.78bn in commercial bank facilities approved by the Taraba State House of Assembly in 2023. Adi emphasized that the approved value of a facility does not equate to the outstanding liability, as amounts drawn and balances can change due to repayments and restructuring. She further clarified that a proposed ₦350bn capital-market financing program has not yet been received by the state.

Approval or original facility value is not the same thing as the outstanding liability at a later date.

— Sarah AdiCommissioner for Finance, Budget and Economic Planning, Taraba State, explaining the difference between approved credit and actual debt.
DistantNews Editorial

Originally published by The Punch in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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