By: Misbahu Bashir & Dickson. S. Adama
Kaduna State Government said it inherited a debt of about N37.5 billion as at December 31, 2013. The debt since 1965.
He said that the state did not enjoy debt forgiveness in 2006.
He said the debt relief which the country enjoyed in 2006 was loan collected from Paris and London clubs, which the state has never borrowed from.
The Commissioner of Finance, Sama’ila Aliyu, made the assertion at a post-budget briefing held in Kaduna yesterday adding that the state was working persistently to settle the debts.
He said “In 2006 there was reconciliation and sharing of debt obtained as far back as 1965 between the new Kaduna State and Katsina State. The actual balances outstanding against Kaduna State were USD84, 995,475.13.
“These loans do not form part of the debt relief from Paris and London Club. They are loans obtained from multilateral institutions such as the World Bank, International Development Bank (IDA) and Africa Development Bank (AfDB).
“Over the years subsequent administration in the state continued to borrow from these financial institution for various infrastructural development projects amounted to USD185,968,750.26”.
SOURCE: DAILY TRUST