Taraba Rejects N1.2tn Debt Claim, Says Domestic Debt Is N85.5bn

Taraba State has rejected claims that it owes about N1.2tn, saying the figure does not match the latest debt records from the Debt Management Office.

The state government said its domestic debt stood at about N85.51bn as of December 31, 2025. It said public discussion of the debt should separate existing debt from approved credit facilities, outstanding balances and facilities that have not been drawn down.

Commissioner for Finance, Budget and Economic Planning, Sarah Adi, gave the clarification in Jalingo after questions over the state’s debt position. She said DMO figures showed Taraba had about N87.96bn in domestic debt before Governor Agbu Kefas took office, meaning the latest figure showed a reduction of about N2.45bn.

Adi also said the DMO’s March 2023 publication reflected Taraba’s debt position as of September 30, 2022, not the state’s debt position at the time the report was released.

On external debt, the state said its obligation rose from about $46.47m as of December 31, 2022, to about $48.04m as of December 31, 2025. Adi said the government was aware that exchange-rate changes could affect foreign-currency debts.

The commissioner also addressed a N206.78bn commercial bank facility approved by the Taraba State House of Assembly in 2023. She said the approved value of a facility should not automatically be treated as current debt because repayments, restructuring and the amount actually drawn could change the final balance.

Adi said the state was working with its lending banks to reconcile the figures and determine the true outstanding balance. She added that Taraba was relying on DMO records, bank reconciliation and its own debt office to guide public reporting on its finances.

Sources: Punch, Daily Post