“Local debts increased from N5.95b in 2011 to N63.45b in May 2019.” Nigeria
The transition committee set up by Gombe State Governor, Muhammadu Inuwa Yahaya, to review handover notes of the previous administration has alleged that former Governor Ibrahim Hassan Dankwambo left N119b debt for the state.
Chairman of the committee, Muhammad Kabir Ahmad, stated this while submitting the report to the governor, saying the previous administration embarked on expansionary fiscal policy largely financed by consistent borrowings. “Local debts increased from N5.95b in 2011 to N63.45b in May 2019. This led to rising debts profile, which stood at N119b as at May 29, 2019,” he said.
He said a review of the state’s fiscal position indicated that since 2011, the previous administration received N11.71b and N5.6b Paris Club Refund towards the end of May 2019. Ahmad added that of the amounts, N3. 01b was paid as consultancy fees, saying: “We understand that the fees were in respect of N31.26b Paris Club Refund the state received.”
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