Our Debt Is N120bn, Not N432bn

Our Debt Is N120bn, Not N432bn

The government of Gombe State has corrected what it sees as false information being spread by the opposition by releasing accurate data regarding the state’s debt profile.

Muhammad Magaji, the State’s Commissioner of Finance and Economic Development, provided the update along with information on the N176.01 billion 2023 budget that the State governor, Inuwa Yahaya signed into law on Friday.

The commissioner claimed that even though Gombe’s debt profile is visible on the Debt Management Office (DMO) website, some people have persisted in disseminating false information in the name of politics.

Magaji said the State had inherited a debt of over N124 billion from the previous administration, but the current administration was working to pay off the debt and restore financial viability.

READ ALSO: Hoodlums Set Ablaze Gombe PDP Campaign Office, Party Blames APC

According to him, the state’s debt profile currently is N120 billion and “this is verifiable and accessible to everyone who visits the DMO.”

He said the figure of N432 billion being peddled as Gombe’s debt was false.

“The debt profile of Gombe State is just at about N120 billion; it is verifiable”, he clarified.

The commissioner stated that the current administration had been servicing the huge debt it inherited and “in 2023 budget, N18.21 billion, representing 10.35 per cent of the total budget, will be used to service debt”.

Magaji added that Gombe has continued to pay salaries and pensions, settling backlogs of gratuities owed since 2014.

He however encouraged residents of the state not to listen to the fake news being peddled around.

Curated from: https://www.informationng.com/2022/12/our-debt-is-n120bn-not-n432bn-gombe-govt-clarifies-total-debt-figure.html
TAGS: #Debt #N120bn #N432bn


Be the first to comment

Leave a Reply