The Kano State Authorities has denied current media reviews alleging new overseas debt accumulation, addressing claims that urged the state borrowed N177 billion from a French lender.
At a press briefing, Dr. Hamisu Sadi Ali, Director Normal of the Kano State Public Debt Administration Workplace, said that no new loans have been taken since Governor Abba Kabir Yusuf assumed workplace in Might 2023.
“The debt workplace has no report of any recent loans. The present debt we’re managing is solely inherited from the earlier administration,” he stated.
Dr. Ali defined that the debt in query originated from a 2018 mortgage settlement beneath former Governor Abdullahi Umar Ganduje’s administration. “Ganduje’s authorities secured a €64 million subsidiary mortgage from the French Improvement Company for the Third Nationwide City Water Sector Reform Mission, with €13 million already disbursed,” he added.
The Director Normal famous that the present administration is concentrated on servicing current money owed and lowering the state’s monetary liabilities.
In 2024, over N63.5 billion has been repaid, bringing Kano State’s complete debt right down to N127.8 billion.
Dr. Ali offered a breakdown of the state’s debt portfolio, highlighting longstanding overseas loans, together with these for the Multi-state Highway Mission and the Malaria Management Booster Mission, some courting again to 1992. He additionally famous substantial home loans taken by the earlier administration.
“We urge the general public to ignore this report,” Dr. Ali stated, calling for correct and fact-based journalism.
