The Taraba State Government has clarified its debt and financing position, saying claims that the state currently carries a debt burden of about N1.2 trillion do not reflect official records from the Debt Management Office.
This was made known by the State Commissioner for Finance, Dr. Sarah Enoch Adi, in Jalingo.
The finance Commissioner said,the DMO, Taraba State’s domestic debt stock was approximately N87.96 billion immediately before the present administration.
According to her, in the latest DMO data as at 31 December 2025, the state’s domestic debt stood at approximately N85.51 billion. This represents a decrease of about N2.45 billion.
Dr Adi explained that the DMO put the state’s external debt at approximately $46.47 million as at 31 December 2022. By 31 December 2025, it stood at approximately $48.04 million.
The Commissioner said the government remains conscious of exchange-rate risks and will ensure external financing stays within limits of fiscal sustainability.
In 2023, the Taraba State House of Assembly approved financing facilities of about N206.78 billion from Zenith Bank, UBA, Fidelity Bank and Keystone Bank.
Dr. Adi stressed that approval is not the same as outstanding liability, noting that repayments and restructuring have taken place, adding that,it would be misleading to take the original approved amount and simply add it in full to the latest DMO debt stock without establishing the amount actually drawn, amounts already repaid, and the current outstanding balances.
She clarified that the state has not received N350 billion from the proposed bond programme, adding that, the programme is designed for phased raising of funds, with the immediate transaction being an initial tranche of approximately N35 billion.
COV/JAMILA ABBA
