Zamfara State Government Clarifies N14.26b Discrepancy

Zamfara State Government has vehemently denied reports of borrowing 14.26 billion Naira. 

According to the spokesperson for the Zamfara Governor, Sulaiman Bala Idris, this amount is part of the proceeds from a 20 billion Naira loan initiated by the previous administration.

Governor Dauda Lawal’s administration clarified that since assuming office, no domestic or external loans have been acquired. The statement aims to address the recent Debt Management Office (DMO) report, which suggested otherwise.

Governor Dauda Lawal of Zamfara State

Contrary to the reports, the Zamfara State Government asserts that they never applied for loans or approached any legislative body for such requests. The confusion arises from the unutilized portion of a bond floated by the previous administration for the Zamfara cargo airport project.

The previous government received 4 billion Naira out of the 20 billion Naira loan, specifically designated for the airport project. However, the funds remained untouched. Upon assuming office, the current administration found it unfeasible to terminate the bond without incurring significant losses for the state.

As per the statement, the remaining balance of 16 billion Naira from the initial 20 billion loan is what constitutes the reported 14.26 billion Naira. This amount has not been utilized and remains reserved for the airport project, as indicated by the spokesperson.

The clarification aims to set the record straight regarding the state’s financial transactions and dispel any misinformation surrounding the alleged borrowing. The Zamfara State Government reassures the public of its commitment to transparency and responsible financial management.

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