From Nahum Sule, Jalingo
The Taraba State Government has refuted claims by opposition figures that the state’s debt profile has risen to about ₦1.2 trillion, insisting that the figure does not reflect the state’s actual debt position as contained in the latest publicly available records of the Debt Management Office (DMO).
The Commissioner for Finance, Dr Sarah Adi, made the clarification on Saturday in Jalingo during a press briefing on the state’s fiscal and financing position.
Adi said the government welcomes legitimate scrutiny of its finances but stressed that public discussions must distinguish between existing debt, approved facilities, outstanding balances and financing arrangements that have not been disbursed.
According to her, DMO records show that Taraba’s domestic debt stood at about ₦87.96 billion in the data preceding the current administration, while the latest available DMO figures put the state’s domestic debt at ₦85.51 billion as of December 31, 2025.
She noted that the earlier figure was reported as at September 30, 2022, adding that the official figures do not support suggestions that Taraba’s recognised domestic debt has risen anywhere close to ₦1.2 trillion.
On external debt, the Commissioner said Taraba’s obligation stood at US$46.47 million in December 2022, rising modestly to US$48.04 million by December 2025.
Addressing the ₦206.78 billion commercial bank facilities approved in 2023, Adi explained that the approved facility value should not automatically be treated as the state’s current outstanding debt, as repayments and restructuring have taken place.
She also clarified the proposed ₦350 billion capital-market programme, stressing that Taraba has not received ₦350 billion under the programme. According to her, the immediate transaction under consideration is an initial tranche of about ₦35 billion, subject to the required regulatory and statutory processes.
On the US$268 million EBID financing agreements, Adi said the facilities are intended to fund an integrated industrial park, irrigated rice production and processing, and a 50-megawatt solar power project.
She, however, stressed that signing the agreements does not amount to receiving the funds, as the facilities remain subject to applicable conditions, regulatory processes and statutory approvals before disbursement.
The Commissioner urged the public not to lump together existing debt, approved facilities and undisbursed financing to arrive at a single figure, saying such an approach could create a misleading picture of the state’s financial position.
She reaffirmed the administration of Governor Agbu Kefas’ commitment to responsible borrowing, transparency, accountability and ensuring that financing supports measurable development while remaining within the state’s repayment capacity.