Taraba state has a debt of over N100 Billion under Governor Darius Ishaku, Taraba State has taken loans from Zenith Bank, UBA, and foreign banks. These loans are meant for development projects but have caused the state to owe a lot of money.
Introduction
Taraba State in Nigeria has a very big problem with debt. Since 2006, the state has been taking many loans and now owes over 100 billion naira.
Each governor who comes into office keeps asking for more loans, but the state does not pay back much of the money it borrows. This has caused the debt to keep growing larger and larger.
The money are supposed to be used for building roads, schools, hospitals, and other important projects. However, people do not see many improvements in these areas. Many wonder where the money is going and why the state is still borrowing more.
The situation has made life harder for the people of Taraba State because a lot of the state’s money now goes towards paying interest on the loans instead of helping the community.
Because of this debt, Taraba State cannot spend enough money on things that really matter, like better schools and hospitals. The state’s financial situation makes it difficult to invest in projects that could create jobs and improve living conditions.
This means that the people of Taraba State do not get the benefits they should from the loans their leaders keep taking.
The cycle of borrowing without paying back has also created a problem for future leaders. They will have to deal with even more debt, making it harder for them to manage the state’s finances.
To fix this problem, the state needs to stop borrowing so much and start using its money more wisely. It also needs to make sure that the money from loans is spent on projects that help the people and grow the state’s economy.
In summary, Taraba State has been borrowing money since 2006 and now owes over 100 billion naira. This borrowing has not led to much improvement in the state and has caused many financial problems. To improve the situation, the state needs better financial management and more responsible use of loan money.
During Governor Darius Ishaku’s time in office, Taraba State has borrowed money from several banks. The state often gets loans from Zenith Bank.
They also get loans from foreign banks and financial institutions outside Nigeria. Additionally, Taraba State has borrowed money from United Bank for Africa (UBA).
These loans are supposed to help pay for important projects like building roads, schools, and hospitals. However, borrowing so much money has made the state’s debt very large, now over 100 billion naira. This means Taraba State owes a lot of money to these banks.
History
Taraba State began taking loans in 2010 when Danbaba Suntai was governor. At that time, the state owed 3 billion naira. Every year, the debt grew by about 20%. Today, the state’s debt has grown to over 100 billion naira.
The debt increased the most in 2017 when Darius Ishaku was governor. He borrowed a lot of money, adding to the state’s debt. Now, the current governor, Kefas, also wants to take more loans, continuing this trend.
Each governor borrowed money to pay for projects like building roads, schools, and hospitals. But the large debt has become a big problem. The state owes a lot of money and has to spend much of its income on repaying loans instead of helping the people.
This ongoing borrowing without enough repayment worries many people. They are concerned about how the state will manage its finances
Getting loans from Zenith Bank, UBA, and foreign banks helps the state start and complete development projects. But because the state keeps borrowing more money, it has become harder to pay back what it owes. This growing debt is a big problem for Taraba State.
In short, under Governor Darius Ishaku, Taraba State has taken loans from Zenith Bank, UBA, and foreign banks. These loans are meant for development projects but have caused the state to owe a lot of money. Taraba State needs to be careful with its borrowing and ensure it uses the money wisely
Loan Records
Between 2015 and 2022, when Darius Ishaku was governor, Taraba State took on a lot of loans. When Ishaku started, the state owed 32 billion naira.
By the time he left, the debt had grown to over 100 billion naira, and the government account was empty.
The biggest loan was taken between 2017 and 2018, amounting to over 20 billion naira. This was the highest amount borrowed during Ishaku’s time as governor.
The loans were supposed to help build roads, schools, and hospitals, but the state’s debt kept increasing.
Now, the new governor, Kefas, also wants to borrow more money. This ongoing borrowing is worrying because the state already owes a lot and has little to show for it.
The money from loans should be used wisely to improve the state and help the people.
In short, from 2015 to 2022, under Governor Darius Ishaku, Taraba State’s debt rose from 32 billion to over 100 billion naira. The largest loan of over 20 billion naira was taken between 2017 and 2018. This continued borrowing is a big concern and needs better management
Conclusion
Taraba state has a debt of over N100 Billion under Governor Darius Ishaku, Taraba State has taken loans from Zenith Bank, UBA, and foreign banks. These loans are meant for development projects but have caused the state to owe a lot of money.