12 January 2014

Nigeria: Kaduna Is Owing N43 Billion Debts - Yero

Kaduna State Governor Mukhtar Ramalan Yero on Saturday restated that the state still owes debts of not less than N43 billion through external and internal loans.

Governor Yero said although the sum of N20 billion was paid in 2013 out of the initial debt profile of N65 billion being owed since 1965, the budget shortfall and repayment of the loan had made impossible for the state government to fund projects.

"Much as we desire to provide adequate funding for all ongoing projects in the state, our administration faces myriad of challenges ranging from budget shortfall to a huge debt profile which slow us down.

"It is imperative to announce to you as top officials of our great party that the state government suffered a budget short fall of N89 billion in 2013. This adversely affected the execution of some critical projects," the governor stated.

Meanwhile, he called on the party members not to be distracted by the recent aggrieved members of the party who defected to the All Progressives Party (APC), assuring that efforts were in top gear to reconcile with them.

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