Governor Uba Sani of Kaduna State has revealed that his administration successfully paid off N90 billion in debts inherited from the previous government led by Nasir El-Rufai. The announcement was made during an interview on Channels Television’s Politics Today program on Monday.
Sani further disclosed that his government has attracted $2.5 billion in investments to the state. He emphasized that since taking office, no new loans have been taken due to a lack of fiscal space.
“In the last three years, we have repaid over N90 billion of the inherited debt, and we have not taken any new loans because we lack the fiscal capacity to borrow,” Sani stated.
Explaining the challenges, the governor noted that his team attempted to restructure the loans with the World Bank but were unsuccessful because all funds had been fully disbursed before their tenure. “We started repaying the loan in our first week in office in June 2023,” he added.