Taraba State Government has refuted claims that the state is carrying a debt burden of about ₦1.2 trillion, saying the figure does not reflect the state’s actual debt stock in the latest records of the Debt Management Office, DMO.
The State Commissioner of Finance, Hon. Sarah Enoch Adi, stated this while addressing the press on Friday in Jalingo. She said public discussion on the state’s finances must distinguish between existing debt, approved facilities, outstanding balances, and financing arrangements that have not been drawn down.
“Government welcomes legitimate scrutiny of public finances. However, it is important that we separate facts from speculation so that citizens are not misled,” Hon. Adi stated.
According to her, DMO data as at 31st December 2025 put Taraba’s domestic debt stock at approximately ₦85.51 billion. This, she noted, is ₦2.45 billion lower than the ₦87.96 billion reported as at 30th September 2022, which was the figure contained in the DMO’s March 2023 publication.
On external debt, the Commissioner said the DMO reported the state’s foreign obligations at about US$46.47 million as at 31st December 2022. By 31st December 2025, the figure had risen slightly to US$48.04 million, which she described as a modest movement. She added that government remains conscious of exchange-rate risks and will ensure that external financing stays within the limits of fiscal sustainability.
Addressing the ₦206.78 billion commercial bank facility approved by the Taraba State House of Assembly in 2023, Hon. Adi explained that the approval of a facility is not the same as outstanding liability.
“The facility, structured against FAAC, JAAC, VAT and IGR, has seen repayments and restructuring. It would be misleading to add the full approved amount to the current debt stock without accounting for drawdowns, repayments and balances,” she said.
The Commissioner also clarified issues around the proposed ₦350 billion capital market programme. She stated that the state has not received ₦350 billion and that the programme is designed to be raised in tranches, subject to regulatory and market approvals. The immediate transaction being considered, she added, is an initial tranche of about ₦35 billion.
On the US$268 million financing agreements signed with the ECOWAS Bank for Investment and Development, EBID, on 26th June 2026, Hon. Adi said the funds are meant for Phase I of an integrated industrial park, irrigated rice production and processing, and a 50-megawatt solar power project. She, however, noted that the signing of agreements must be distinguished from disbursement, as the facilities are still subject to conditions precedent and statutory approvals.
She listed four concepts the public should not conflate: existing debt stock, approved facility, outstanding balance, and proposed or undisbursed financing. She argued that adding all headline figures together does not give an accurate picture of the state’s financial position.
Outlining the fiscal policy of the administration of Governor Agbu Kefas, Hon. Adi said borrowing will be tied to productive infrastructure and economic expansion, that repayment capacity will guide new liabilities, and that transparency and accountability will remain central to public borrowing.
She said the government welcomes scrutiny of public finances, but insisted that such scrutiny must be based on facts, including how much was approved, drawn, repaid, outstanding, undisbursed, and the projects being financed.
Hon. Adi reaffirmed the government’s commitment to responsible financing, disciplined debt management, and the prudent use of public resources for the development of Taraba State.
