Taraba Govt Kicks Against Allegation of 1.3 Trillion Debt Profile 

By Andrew Ojih,  Jalingo. 

The Taraba State Government weekend kicked against allegations that the debt profile the state currently  stands at N1.3 trillion. 

The Commissioner for Finance, Sarah Adi stated this in Jalingo while making clarification over the debt burden on the hinted that  the figure was inaccurate and 

Adi noted that discussions about the state’s finances must differentiate between existing debt stock, approved credit facilities, outstanding balances and financing arrangements that are yet to be disbursed.

She maintained that the latest data from the Debt Management Office (DMO), Taraba’s domestic debt stood at N85.51 billion as of December 31, 2025.

“The figure represented a reduction of about N2.45 billion from the N87.96 billion domestic debt recorded in DMO data available before Governor Agbu Kefas assumed office,” she stressed. 

She further clarified that the DMO publication released in March 2023 reflected Taraba’s debt position as of September 30, 2022, rather than its debt position at the time the report was published.

On external debt, she explained that the state’s obligations increased from about $46.47 million as of December 31, 2022, to approximately $48.04 million as of December 31, 2025.

She described the increase as relatively modest, while acknowledging the potential impact of foreign exchange fluctuations on external obligations.

She equally addressed the N206.78 billion commercial bank financing facility approved by the Taraba State House of Assembly in 2023.

She highlighted that the facilities, involving Zenith Bank, United Bank for Africa, Fidelity Bank and Keystone Bank, were backed by designated revenue streams.

“The original approved value of a credit facility should not automatically be treated as the state’s current outstanding debt, as repayments, restructuring and the actual amount drawn could have altered the liability.

The true outstanding balance could only be established by examining the amount actually disbursed, repayments made, any restructuring undertaken and the current balances on the respective facilities,” she added.

She also dismissed claims that Taraba had already received N350 billion under a proposed capital-market financing programme.

She stressed that the programme remains subject to regulatory, statutory, market and disclosure requirements and is designed to raise funds in stages.

She said an initial tranche of about N35 billion was under consideration, stressing that the full N350 billion programme size should not be interpreted as funds already received or as an existing drawn liability.

She  clarified that  three financing agreements worth about $268 million signed with the ECOWAS Bank for Investment and Development (EBID) on June 26, 2026.

“The facilities are intended to finance an integrated industrial park, irrigated rice production and processing, and a 50-megawatt solar power project,” she announced.

She added that  the Kefas administration’s borrowing policy was guided by development needs, repayment capacity, transparency and accountability.