A document obtained by THE INFORMANT247 revealed that Kwara’s total public debt rose by N1.8billion in 3 months to N63.1 billion as at the end of September 2019.
According to the document of the Nigeria’s Debt Management Office, the Kwara Government owed N61.3 billion as of June 30, 2019 while the total debt profile increased to N63.1 billion in September 30th, 2019.
The debt profile raised in 3 months upon the monthly repayment of about N600 million from the state allocation.
Recall that the new administration of Mall. AbdulRahman AbdulRazaq was ushered in on May 30th, 2019 after defeating the incumbent People’s Democratic Party candidate, AbdulRazak Atunwa in the last general election.
However, despite monthly deduction for loan repayment from the Federal Government allocation to the state, the debt profile continued to be on the increase which raise an indication that billions of Naira were owed in just few months of the new administration.
While loan are not totally unacceptable, state government need to explain to their citizens what the loans were used for.
A breakdown of the debt figures shows that Lagos came first with N441.6 billion, followed by Rivers with debt stock of N266.9 billion.
The North Central states including the FCT has a total of N594.2 billion debt.
Abuja has a debt burden of N132.2 billion, Benue N96.9 billion, Kogi N105.1 billion, Niger N41.8 billion and Plateau N56.96 billion.
When contacted for reaction, the Governor’s spokesperson, Rafiu Ajakaye promised to get back to our correspondent but didnt till time of filling this report.
