Zamfara government denies borrowing money from Zamfara House of Assembly

In response to speculations by the opposition party in Zamfara State, the state government clarified that it did not borrow 14.26 billion as rumored. The amount was actually part of a 20 billion Naira loan initiated by the previous administration.

The spokesperson for Governor Dauda Lawal stated that no loans, whether domestic or external, have been obtained since the current administration took office.

A press release emphasized, “The Debt Management Office’s report suggesting that Zamfara State Government borrowed 14.26 billion Naira is inaccurate.”

“Zamfara State Government has not made any requests for loans to the State Assembly or National Assembly,” the statement further clarified.

Highlighting the previous administration’s actions, it was noted that despite requesting a 20 billion Naira bond, only 4 billion Naira was received for the Zamfara cargo airport project, but the funds were left unused.

Upon assuming office, it was discovered that terminating the bond would lead to a significant loss for the state due to certain payment terms.

The balance of 16 billion Naira from the previous administration’s 20 billion loan is what the Debt Management Office reported as 14.26 billion Naira, with the decrease attributed to inflation.

The remaining bond amount is safely kept in a government account and earmarked for the airport project.