Report of Foreign Loan Indebtedness False, Untrue – Kano Gov’t
The Kano State Government says an online media report linking the administration of Governor Abba Kabir Yusuf with a foreign debt accumulation of N177 billion from a French lender was false and untrue..
Director General of the state public Debts Management office Dr. Hamisu Sadi Ali, at a press briefing on Tuesday stated that no new loans have been taken since the Governor assumed office in May 2023.
“The debt office has no record of any fresh loans. The current debt we are managing is entirely inherited from the previous administration,” he said.
The DG, explained that the debt in question originated from a 2018 loan agreement under former Governor Abdullahi Umar Ganduje’s administration.
“Ganduje’s government secured a €64 million subsidiary loan from the French Development Agency for the Third National Urban Water Sector Reform Project, with €13 million already disbursed,” he added.
Dr Hamisu Ali noted that, the current administration is focused on servicing existing debts and reducing the state’s financial liabilities.
In 2024, over N63.5 billion has been repaid, bringing Kano State’s total debt down to N127.8 billion as at June this year.
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Dr. Ali provided a breakdown of the state’s debt portfolio, highlighting longstanding foreign loans, including those for the Multi-state Road Project and the Malaria Control Booster Project, some dating back to 1992. He also noted substantial domestic loans taken by the previous administration.
“We urge the public to disregard this report,” Dr. Ali said, calling for accurate and fact-based journalism.
