Kaduna pays N6.7bn monthly on inherited loans, says Uba Sani

Kaduna State Governor, Uba Sani, says his administration pays N6.7bn monthly from the state’s Federation Account Allocation Committee revenue to service loans inherited from the previous administration.

Sani disclosed this on Channels Television’s Politics Today on Thursday, saying the payments would continue until 2048.

The governor also said he had not borrowed since assuming office, stressing that his administration had been prudent in managing the state’s finances.

“I hate to say it, but I will say it today. If you go to Debt Management Office, we don’t talk, we only work. Even at that, you will never hear any of my staff talking. But we pay 6.7 billion every month from the loan we inherited. Since I became governor, I have not borrowed one kobo,” Sani said.

Asked whether he was complaining about the financial situation he inherited, the governor said he was not.

Sani added that the monthly debt repayment would continue for more than two decades.

“What I’m trying to say, in essence, we are paying 6.7 billion every month from our FAAC, which will continue until 2048,” he said.

The governor said the debt figure was contained in records of the Debt Management Office and could be verified.

Sani also thanked President Bola Tinubu for his support, saying he based his statements on data and statistics.

“But again, that is why sitting here, I must thank President Bola Ahmed Tinubu. A lot of people sitting where they are, continue to promise. But when I talk, I talk on data and statistics, and whatever I say to you, you can go and clarify and verify. That is the most important,” he said.

The governor said prudent financial management involved being careful about where government funds were invested.

“It’s about being prudent. It’s about selecting or being very careful in where you invest the money. That’s the most important. As a leader, you have to sit down…” he said.