Former Senator Shehu Sani, who represented Kaduna Central, has expressed regret that his warnings against former Governor Nasir El-Rufai's loans were not heeded, leading to Kaduna State's current multi-million dollar debt burden. Governor Uba Sani recently disclosed that his administration inherited a substantial debt of $587 million, N85 billion, and 115 billion contractual liabilities from the previous administration, making it challenging to pay salaries.
Speaking to journalists, Shehu Sani recalled being insulted for opposing the $350 million World Bank loan requested by the El-Rufai administration. He emphasized the need for accountability, likening his warnings to those of biblical figures who foretold impending challenges.
Governor Uba Sani, during a Town Hall Meeting, highlighted the dire financial situation caused by the debt burden, which now consumes a significant portion of the state's federal allocation. He noted that due to the exchange rate increase, the state is repaying almost triple the amount borrowed by the previous administration. Seven out of the N10 billion federal allocation for Kaduna State in March was deducted to service the debt, leaving only N3 billion, which is insufficient to cover the state's N5.2 billion monthly salary bill.
