Taraba Govt rejects N1.2tr debt claim, says figure misleading

The Taraba State Government has dismissed allegations that the state is currently saddled with a debt of about N1.2 trillion, calling the figure inaccurate and misleading. Commissioner for Finance, Sarah Adi, clarified that discussions about the state’s finances must differentiate between existing debt stock, approved credit facilities, outstanding balances and financing arrangements that have not yet been disbursed.

As of December 31, 2025, domestic debt stood at N85.51 billion, a decrease of N2.45 billion from the previous DMO data. External debt rose from $46.47 million to approximately $48.04 million over the same period. Taraba received an approved commercial bank financing facility of N206.78 billion in 2023, backed by specific revenue streams.

The government dismissed claims of receiving N350 billion under a capital-market financing programme, stating that the programme is subject to regulatory and statutory requirements and is being raised in stages. Three financing agreements worth $268 million with the ECOWAS Bank for Investment and Development were also signed on June 26, 2026, for various infrastructure projects.

These agreements do not mean the funds have been disbursed immediately. The administration emphasized that when assessing Taraba’s financial position, four categories should be considered separately: existing debt stock, approved facilities, outstanding balances, and proposed or undisbursed financing.