Gombe State Commissioner of Finance and Economic Development, Mr Muhammad Magaji has denied the State owes over N432 billion in debts.
Magaji made the disclosure in Gombe while giving details of the N176.01 billion 2023 budget signed into law by the State Governor, Inuwa Yahaya on Friday.
He said in spite that the debt profile of Gombe was available on the website of the Debt Management Office (DMO), some persons in the name of politics had continued to spread fake figures.
He stated that though the state government had inherited over N124 billion in debt from the previous administration, the current administration was working to reduce the debt and make the state financially viable.
According to him, the state’s debt profile currently is N120 billion and “this is verifiable and accessible to everyone who visits the DMO.”
“I know that there had been political issues saying Gombe State is owing N432 billion, so the figure (N120 billion) is not up to one third of the figure being peddled around.
“The debt profile of Gombe State is just at about N120 billion; it is verifiable.
“It tells you that we have not borrowed too much, not even outside the approval that is the debt ceiling that you will not borrow outside.”
Magaji said the question on Gombe debt profile had become a recurring one, “principally, probably for political reasons”.
The commissioner stated that the current administration had been servicing the huge debt it inherited and “in 2023 budget, N18.21 billion, representing 10.35 per cent of the total budget, will be used to service debt”.
According to him, the state government has continued to pay salaries, pensions, settling backlogs of gratuities owed since 2014.
He encouraged residents of the state not to listen to the fake news being peddled around.
The commissioner assured that “ this government is financially sound; we have met our obligations from every quarter and there is no reason to fear whatsoever.
“Some people can continue to peddle (fake news) because they want to take government but the people of Gombe are wiser and know better,” he said.