The Kaduna State Government, via the Ministry of Finance, has stated that they did not acquire a new $17.69m loan.
The state Commissioner for Finance, Shizzer Bada, revealed the government’s stance in a press release on Thursday.
She clarified that the current administration did not borrow $17.69m.
“We did not borrow the mentioned amount or any other sum as reported. The claims are completely untrue and fabricated.
“There must be clarity for borrowing and it is crucial to understand that borrowing activities by sub-national entities in Nigeria are strictly governed by a framework comprising the Constitution of the Federal Republic of Nigeria,” she said.
As per her, under the leadership of Governor Uba Sani, the government has not entered into any agreement or received any foreign loan as alleged.
“The legal provisions outlined in relevant statutes are clear regarding external borrowing by government entities.
“The Debt Management Office (Establishment, Etc.) Act, 2003, explicitly mandates that no external loan can be approved or obtained without prior presentation of its terms and conditions to the National Assembly for approval,” she added.
The government urged the public to disregard the report and refrain from succumbing to misinformation.
Recently, Governor Uba, during a town hall meeting, expressed dissatisfaction with the significant debt inherited from his predecessor, Nasir El-Rufai on May 29, 2023.
He said his administration inherited a total of $587m, N85bn, and 115 contract liabilities from the ex-governor.
According to him, N7bn out of the N10bn Federal Allocation for the state in March was used to service debt.
