Kaduna spends N6.7bn monthly on old loans, says Uba Sani

Kaduna State Governor, Uba Sani, has revealed that his government pays N6.7 billion every month from the state’s Federation Account Allocation Committee revenue to handle loans from the previous administration.

Sani shared this information on Channels Television’s Politics Today on Thursday. He mentioned that these payments will carry on until 2048.

The governor emphasized that he has not taken any loans since he took office. He said his government has been smart 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 stated.

When asked if he was unhappy with the financial state he inherited, the governor said he was not.

He pointed out that the monthly debt repayment will last for more than twenty years.

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

Sani noted that the debt amount is recorded at the Debt Management Office and can be confirmed.

He also expressed gratitude to President Bola Tinubu for his support, stating that his statements are based on accurate data.

“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 explained that managing finances well means being careful about where government money goes.

“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 concluded.