Zamfara State officials rejected claims about Governor Dauda Lawal taking a ₦34 billion loan. The governor's spokesperson Sulaiman Bala Idris released a statement Tuesday addressing the reports. Officials said the money discussed was not new borrowing but payments for old debts. The state used the funds to pay interest on loans from previous governments. Lawal has not secured any loans since becoming governor.
The ₦34 billion went toward servicing inherited debt obligations. State records show the 2023 budget set aside ₦53.2 billion for debt payments before Lawal took office. Interest payments alone consumed ₦34 billion of that allocation. Officials described these payments as proof of responsible financial management. The administration wants to demonstrate its commitment to proper spending practices.
Idris questioned how previous loan money was spent since little development resulted from the borrowing. The current government focuses on lowering the state's total debt load. Officials confirmed they have not applied for any new credit facilities. The administration aims to restore trust through careful financial oversight. Leaders want to prove their dedication to fixing Zamfara's money problems.
The ₦34 billion went toward servicing inherited debt obligations. State records show the 2023 budget set aside ₦53.2 billion for debt payments before Lawal took office. Interest payments alone consumed ₦34 billion of that allocation. Officials described these payments as proof of responsible financial management. The administration wants to demonstrate its commitment to proper spending practices.
Idris questioned how previous loan money was spent since little development resulted from the borrowing. The current government focuses on lowering the state's total debt load. Officials confirmed they have not applied for any new credit facilities. The administration aims to restore trust through careful financial oversight. Leaders want to prove their dedication to fixing Zamfara's money problems.
