Taraba State denies N1.3 trillion debt allegations

The Taraba State government has denied allegations claiming its debt profile has reached N1.2 trillion or N1.3 trillion, labeling the figures inaccurate. Sarah Adi, the Commissioner for Finance and Budget and Economic Planning, clarified during a fiscal briefing in Jalingo that discussions regarding the state's finances must distinguish between existing debt stock, approved credit facilities, and outstanding balances.

According to official data from the Debt Management Office (DMO), Taraba's domestic debt stood at approximately N85.51 billion as of December 31, 2025, representing a decrease from the N87.96 billion recorded before the current administration took office. Adi noted that the DMO's March 2023 publication reflected the state's position as of September 30, 2022, rather than the date of publication.

Regarding external debt, the commissioner reported that obligations rose from approximately $46.47 million at the end of 2022 to about $48.04 million by December 31, 2025. She acknowledged potential risks from foreign exchange fluctuations but maintained that external financing remains within limits of fiscal sustainability.

Adi also addressed a N206.78 billion commercial bank financing facility approved by the State House of Assembly in 2023, involving Zenith Bank, United Bank for Africa, Fidelity Bank, and Keystone Bank. She emphasized that the original approved value of such facilities should not be confused with the actual outstanding liability after repayments and restructuring.