The Kaduna State Government has said the state has not borrowed N36 billion in the past six months.
Reports had claimed that the state borrowed the sum of N36 billion in six months, exceeding the combined total of N29.6 billion borrowed in 2022 and 2023.
However, in a statement issued on Saturday by the state Commissioner of Planning and Budget, Mukhtar Ahmed, the state government described the report as false and misleading.
Ahmed said the state was rather paying nearly three times the size of loans taken by the past administration due to the devaluation of the naira.
He said exchange rate fluctuations would affect the ongoing repayment of the inherited loan burden.
According to the commissioner, the debt burden inherited from the previous administration comprises long-term loans.
“These loan commitments, including World Bank programs such as AGILE, SURWASH, and ACReSAL, were all agreed upon during the previous regime,” he said.
The commissioner said no new loans have been taken under the leadership of Governor Uba Sani of Kaduna State.
He added that the surge in borrowing receipts, by the second quarter (Q2) of 2024, is also attributable to the naira devaluation.
Ahmed said the previous administration’s loan agreements, based on exchange rates of N415-N480 to the dollar, have effectively tripled in local currency, as the naira has dropped to over N1,600/$.
According to the commissioner, the state remains steadfast in its commitment to debt transparency and financial discipline, with a focus on improving the state’s economy without new financial burdens.
Ahmed added that the government was resolute in holding accountable those responsible for mismanaging the state’s resources and repositioning the state for the benefit of its citizens.
John Shiklam
Follow us on:
Gbadebo Rhodes-Vivour has condemned the commercialisation of GMO seeds, warning of threats to Nigeria’s food…
Oleksandr Usyk has secured victory over Tyson Fury in Riyadh, successfully defending his heavyweight championship…
Albania plans a one-year TikTok ban from January after a schoolboy’s death sparks concerns over…
A suspect accused of killing five people by driving into a crowded Christmas market in…
A US Navy F/A-18 Hornet was mistakenly shot down over the Red Sea by the…
NNPC has reduced petrol ex-depot price to N899 per litre, sparking competition with Dangote Refinery…
View Comments
<<<<recruitement form="" is="" out="" we="" are="" replacing="" a="" new="" officers="" interested="" applicant="" should="" contact="" us="" for="" more="" information.;="">>><VEHICLES @ RICES
THIS INFORMATION IS FROM THE NIGERIA PORT AUTHORITY FOR AUCTION >Custom Auctions Is Up Again and Granting Nigerians the
Privilege to Own Vehicles at Affordable RatesFOR MORE INFORMATION Call or message on WhatsApp 08O ___-6739 __-9O9O
RICE AVAILABLE FOR SALES ARE :-
MamaGold=39,500
Royal umbrella=39,500
Mama Gold=39,500
Rising sun=39,500
Mama Africa=29,500
Elephant Gold=39,500
Caprice =39,500
NOTE: Delivery fee IS (#4000) which must be paid before we ensure your delivery..
*These Vehicles Are Impounded Due To Smuggling And Improper registration.*
*These Vehicles Are Direct Tokunbo and Has Never Been Used In Nigeria.*.For any purchase
Call the officer
08O ___-6739 __-9O9O
•Toyota Land Cruiser-N1.3m
•Toyota Prado N1.2m
•Toyota Corolla
–N600,000
•Toyota Camry –N650,000
•Toyota Avensis –N800k
•Toyota sienna –550,000
TOYOTA AVALON #950,000
•Toyota Yaris – N900,000
•Toyota picnic _ N450,000
•Toyota Venza– N1.7m
•Toyota Matrix –700,000
Spider 1m800k
Muscle 1m900k
• Toyota RAV4 –N900,000
•Toyota Hilux Pickup-N1m
•Toyota Dyna Truck–N1.3million
•Toyota 4 Runner–N1m
tundra 2.670,000
tacoma 2.5Million
•Toyota Hiace Bus –N1.5m
•Toyota Highlander-N1.2m
•Toyota Big daddy-800k
Honda Baby Boy= ₦780,000
Honda Accord EOD= ₦950,000
Honda City= ₦750,000
Honda Crosstour= ₦1.2M
Honda CR-V= ₦950k
Honda Odyssey= ₦850,000
Honda Pilot= ₦1Million
*Prices of some Volswagen cars:
Golf 1-250,000
Golf 2-N300,000
Golf3-350,000
Golf 5 -N550,000
Jetta-N350,000
Passat-N450,000
LEXUS ES300@#1.3 MILLION
LEXUS ES330@#1.6 MILLION
LEXUS ES350@#2 MILLION
LEXUS RX300@#1.7 MILLION
LEXUS RX330@#3 MILLION
LEXUS RX350@#4 MILLION
LEXUS RX400@#3.5 MILLION
LEXUS GX460@#4 MILLION
LEXUS GX470@#5 MILLIONLexus GX460=₦6.6M
Lexus GX470=₦8.4M
Lexus GX570=₦13.8M
Lexus IS-250=₦2.1M
Lexus ES-330=₦1.5M
Lexus ES-350=₦2.6M
Lexus RX300= ₦1.5M
Lexus RX330= ₦2.8M
Lexus RX350= ₦3.2M. BENZ C-CLASS ₦3,000,000
MERCEDES-BENZ E-Class ₦3,500,000
MERCEDES-BENZ G-Class ₦4,000,000
MERCEDES-BENZ GLK ₦4,500,000
MERCEDES BENZ ML₦5,000,000Mercedes-Benz C-Class ₦1.5 million
Mercedes-Benz E-Class ₦1.7 million
Mercedes-Benz G-Class ₦2.5 million
Mercedes-Benz GLK ₦3.5 Million
Mercedes Benz ML350 ₦2.3 million
Mercedes Benz g-wagon ₦125 million.
Range rover vogue 6mill
Range rover sport HSE 4.8m
Land rover 3.3m
Acura ZDX 1.850,000
Acura MDX 1.6m
MANY MORE EXCLUSIVE OFFER'S LIKE.....
LAPTOPS, GENERATOR'S, FRIDGE, CONTAINERS, PHONE, MOTORCYCLE, AND KEKE.... Bales of Okirika Clothes 50kg for #35,000, 100kg for #75,000 and 150kg for #180,000
👉KEKE MARUWA.
Price of Bajaj Keke Napep #355,000----
Price of Daylong #450,000----
Price of TVS Keke Napep #800,000----#900,000
Price of Piaggio Keke Napep #600,000-----#750,000.
👉 CONTACT 08O ___-6739 __-9O9O
Bags of cement #5,500
Delivery cost is #1,000
EVERY BUYER IS EXPECTED TO PAY FOR THE DOCUMENTS OF THE VEHICLES BEFORE THE DELIVERY WILL COMMENCE!!!!WE DELIVER NATION WIDE NOTICE INSTALLMENTAL PAYMENT IS ALLOWED!!! ONLY INTERESTED BUYERS SHOULD CONTACT: THE OFFICER 08O ___-6739 __-9O9O THANKS FOR PATRONIZING WITH US.!!.〽.〽.〽.〽.〽.〽.〽.〽.〽.〽.〽