Adamawa's Debt Burden Hits N125bn

Adamawa State governor, Ahmadu Fintiri, has revealed that the debt burden of the state has risen to N125bn.

The governor made the revelation on Monday while inaugurating 23 commissioners including Adamu Atiku, eldest son of Nigeria’ former Vice President, Atiku Abubakar.

Fintiri charged the commissioners to brace up, stressing that the state was grappling with heavy debt burden.

He said, “This task has been made more difficult by the heavy debt burden and liabilities inherited by this administration totalling N125,052,051,284.61.

“Out of this amount, N41,836,204,499 make up the liabilities in contractors’ arrears, pension and gratuity, salary arrears and other staff claims.

"N53,768,539,392.70 was the outstanding domestic loans while external debt stood at N29,447,307,392.61, out which N1.008bn is deducted monthly from state’s federal allocation.

"The government has therefore been compelled to take decisive action to clear the mess which it inherited.”

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source http://saharareporters.com/2019/11/25/adamawas-debt-burden-hits-n125bn