By Agency Report
Chairman of the Committee on Foreign Loans in the 8th Senate, Shehu Sani, has reacted to the revelation that the debt profile of Kaduna State stands at $587 million, N85 million and 115 contractual labilities emphasising that he warned against collecting $350 million loan by the administration of former Governor Nasiru El-Rufai.
Sani who represented Kaduna Central Senatorial District between 2015 and 2019 made th remark during the breaking of Ramadan fast with religious leaders in Kaduna State after Governor Uba Sani at a town hall meeting said he inherited a significant debt burden from the previous administration.
Sani underscored the exacerbating effect of the fluctuating exchange rate between the Naira and United States Dollar. He expressed regret that his cautionary advice went unheeded.
He emphasised the necessity for both the government and the people of Kaduna State to effectively make substantial sacrifices to address the current financial predicament.
Source: AIT
