Bala Mohammed, the governor of Bauchi State, claims that the state government has paid back N30 billion of the entire debt accumulated by previous governments.
Governor Mohammed did not provide information on the state’s debt portfolio, but he did say that in the last two years, loan repayment has been done at a rate of N1.2 billion each month.
Governor Mohammed stated this during the State Executive Council’s initial meeting in Bauchi on Monday. “We’ve been using overdraft to finance the majority of our projects," he stated.
According to him, the state’s Internally Generated Revenue surged by 300 percent over the time period under consideration.
According to the governor, 10% of the IGR was distributed to the 20 local government districts in order to speed up social and economic development at the grassroots.
Governor Mohammed said his administration was “closely cooperating with relevant security authorities to secure our domains from criminals" as it repositioned the state.
He also claimed that his administration had “built a hundred kilometers of roads to boost transportation services in urban and rural areas."
Source: Punchng
