Governorship candidate of the Peoples Democratic Party (PDP) in Kwara State Shuaibu Yaman has decried the rising domestic debt profile of the state, describing it as ‘incredibly alarming’. He urged the governor to speak with Kwarans.
Yaman, in a statement by his media and strategy office yesterday, said the present administration is pushing the state into bankruptcy less than a year to the expiration of its mandate.
He challenged the AbdulRahman Abdulrazaq government to give details of how it spent the humongous loans taken despite its earlier promise not to take loans in running the state.
Quoting the recently released statistics, Yaman said the AbdulRazaq administration has incurred an additional N45.1 billion domestic debt in its three years in office, when a state like Nassarawa has reduced its domestic debt by N32.8 billion, from N89.95 billion in Q2 2019 to N57.14 billion in Q1 2022, in less than three years.
The statement added: “With a total revenue generation of over N376 billion from FAAC and IGR as at March 2022, the governor should engage the people on the need for such a record high domestic debt of over N100 billion in just three years.”
Yaman, who noted that the state had never been this profligate under past administrations, urged the people to vote out the AbdulRazaq administration to save the state from further financial plunge.
He also assured the people that as soon as elected, ‘a mechanism to rescue the state from further financial mismanagement will be put in place, which will guarantee a viable economic growth that will not only help reduce the debt profile, but restore the state as a leading light in revenue generation among states of the federation’.