The Taraba State Government has dismissed allegations by opposition parties that the state has a debt burden of over N1.2 trillion under the current administration, describing the claim as fake, misleading and inciting.
The State Commissioner for Finance, Budget and Economy, Sarah Adi, in a statement on Sunday, insisted the allegation does not reflect Taraba’s actual debt status and urged politicians to verify data before presenting it to the public.
According to the commissioner, the Debt Management Office data shows that as at 31 December 2025, the domestic debt stood at approximately N85.51 billion, about N2.45 billion lower than the September 2022 figure the administration inherited.
“For the avoidance of doubt, the claim that Taraba State currently carries a debt burden of about N1.2 trillion does not reflect the State’s debt stock reported in the latest publicly available records of the Debt Management Office,” the statement read.
She noted that the DMO had clarified that the Taraba figure contained in its March 2023 publication was reported as at 30 September 2022.
“In the latest publicly available DMO data, as at 31 December 2025, Taraba State’s domestic debt stock stood at approximately N85.51 billion. This is approximately N2.45 billion lower than the earlier reported figure,” she stated.
The government also clarified its external debt position, noting that the DMO reported Taraba’s external debt at approximately US$46.47 million as at 31 December 2022, which stood at approximately US$48.04 million by 31 December 2025.
“This represents a relatively modest movement in the State’s external debt position over the period,” the commissioner said.
The government also addressed the issue of approved financing facilities, noting that in 2023, the Taraba State House of Assembly granted approval for financing facilities of approximately N206.78 billion involving Zenith Bank Plc, United Bank for Africa Plc, Fidelity Bank Plc, and Keystone Bank.
“Government wishes to make an important distinction: Approval or original facility value is not the same thing as the outstanding liability at a later date. Repayments and restructuring have taken place under the facilities,” the statement said.
The government also clarified that the proposed N350 billion capital-market financing programme had not been received by the state, stating that the programme remains subject to applicable regulatory, statutory, market, and disclosure processes.
“It is therefore incorrect to treat the entire N350 billion programme size as money already received by the State or as an existing drawn liability,” it said.
The government also addressed the US$268 million financing agreement signed with the ECOWAS Bank for Investment and Development on June 26, 2026, noting that the signing of a financing agreement must be distinguished from actual disbursement.
“The facilities remain subject to applicable conditions precedent, regulatory processes, and statutory approvals before drawdown,” the statement clarified.
The government said it welcomed scrutiny but insisted it must be based on facts rather than misleading narratives.
“The proper questions are not simply the headline amount of a proposed facility, but: How much was approved? How much was actually drawn? How much has been repaid? How much remains outstanding? What has not yet been disbursed? What projects are being financed? And what is the State’s repayment capacity?” the commissioner stated.
The government said it remained committed to responsible financing, disciplined debt management, transparency and the prudent use of public resources for the development of Taraba State.
