Kano and Kaduna States have accrued a debt of N134 billion over three years, with Governor Yusuf considering an additional N25 billion loan.
SaharaReporters' budget performance review reveals that between 2021 and 2023, Kano and Kaduna states have accumulated N134 billion in debt. Further borrowing is anticipated for 2024.
Kano State's borrowing history includes N23.4 billion in 2021, N8.4 billion in 2022, and N9.4 billion in 2023. Governor Kabir Yusuf's administration is contemplating a N25 billion loan in 2024, which would elevate the state's total borrowing to N66.2 billion over 39 months.
Kaduna State's borrowing was N63.4 billion in 2021 and N3 billion in 2022. With N26.6 billion borrowed in 2023, Kaduna's total debt over 36 months is N93 billion.
Kano allocated N9.5 billion for debt servicing in 2023, N12.7 billion in 2022, and N3.7 billion in 2021, totaling N25.9 billion over three years.
During this period, Kano borrowed N41.2 billion, meaning that for every N10 borrowed, N6.2 was spent on servicing debt.
The over-reliance on loans by Nigerian states has raised concerns among key stakeholders, given its implications for development and fiscal resources.
