In Kaduna State, the immediate past government left N73,933,104,923.22 billion external and internal debts for Malam Nasir El-Rufai led administration.
Even though, the new government inherited the sum of N8.6billion left in the state’s treasury as against empty treasury earlier speculated, El-Rufai has announced that his team have to make a lot of sacrifices to stabilise the state and work for its development.
The former Governor while presenting handing over note to El-Rufai said, “I joined the Kaduna state government as a Commissioner for Finance. And I know the real financial status of the state. People are more concerned about insinuation that we are leaving behind N109billion debt. Well, they may be right or wrong.
“Inspite of the numerous people oriented projects executed by the outgoing administration, a total cash balance of N8.6 billion would be left in various accounts as at 28th May,2015.
“The current debt position of the state as at 28th May, 2015 is a total debt stock of N73,933,104,923.22 which comprises of external and internal debts”, Yero stressed.
Yero further informed that the external debt stands at N46.062 billion while the internal loans which include bond, contractors arrears, gratuity arrears and CBN MSMEDF stands at N27,870 billion.
“The state government awarded 82 No contracts for the construction/rehabilition of roads, culverts, drainages and bridges with a distance of 327.93km.
“In the same vein, 32No road projects have also been completed with 67.50 kilometres surface dressed finished and 75.798 kilometres with asphaltic wearing course finish.
“The remaining other projects are at various stages of completion. The contracts were awarded at the cost of N61,108,376,239.09 of which the sum of N30,949,987,696.67 has been paid”, added Yero.
Meanwhile, ?Governor El-Rufai within the week said, he had discovered a lot of wasteful spending in the previous government activities.
He said, over, N3billion was being spent on salaries an allowances every month out of the N4 billion realised monthly in the state.
He also lamented that the Yero administration was spending N3 million ?monthly for food in government house alone. He however promised that his government will cut down on unnecessary expenses to enable it deliver dividends of democracy to the people of Kaduna State.