Zamfara Government Denies Borrowing N14 Billion

Governor Dauda Lawal’s administration in Zamfara State has firmly denied assertions suggesting the acquisition of a N14.26 billion loan. In a statement released to the press by Governor Lawal’s spokesperson, Sulaiman Bala Idris, it was clarified that the said amount was actually a portion of the proceeds from a N20 billion bond initiated by the previous state administration.

Contrary to circulating reports, the current government under Governor Lawal has not taken any form of loans, whether domestic or external, since taking office. This stance directly contradicts information provided by the Debt Management Office (DMO).

Idris went on to elaborate that the previous administration had launched the N20 billion bond specifically for the Zamfara cargo airport project. However, only N4 billion was disbursed and left unused. The remaining N16 billion balance from the bond is reflected as N14.26 billion in the DMO report, adjusted for inflation.

“It is imperative to understand that the previous Zamfara State government floated a N20 billion bond but did not receive the entire sum. The preceding administration received N4 billion out of the requested N20 billion loan designated for the Zamfara cargo airport project, yet these funds were left untouched,” Idris explained.

Upon assuming office, the current administration discovered that terminating the bond agreement would result in substantial losses for the state. Therefore, the remaining balance of N16 billion from the borrowed amount remains intact in a government account, earmarked for the airport project.

“The bond balance, still securely held in a government account, has not been utilized and will be reserved exclusively for the airport project,” added Idris.

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