The Taraba State Government has dismissed claims by opposition figures that the state’s debt profile has ballooned to approximately ₦1.2 trillion, insisting that the figure is at odds with official records from the Debt Management Office (DMO).
State Commissioner for Finance, Dr Sarah Adi, made the clarification on Saturday in Jalingo during a press briefing on the state’s fiscal position.
Dr Adi stated that while the government welcomes legitimate scrutiny of its finances, public discourse must distinguish between existing debt, approved facilities, outstanding balances and financing arrangements yet to be disbursed.
Citing DMO records, she noted that Taraba’s domestic debt stood at approximately ₦87.96 billion in the data preceding the current administration, while the latest available figures place the state’s domestic debt at ₦85.51 billion as of 31 December 2025. The earlier figure, she explained, was reported as at 30 September 2022, adding that official data does not support suggestions that Taraba’s recognised domestic debt has approached the ₦1.2 trillion mark.
On external debt, the Commissioner said the state’s obligation stood at US$46.47 million in December 2022, rising modestly to US$48.04 million by December 2025.
Addressing the ₦206.78 billion commercial bank facilities approved in 2023, Dr Adi clarified that the approved facility value should not automatically be treated as the state’s current outstanding debt, given that repayments and restructuring have since taken place.
She also addressed the proposed ₦350 billion capital-market programme, stressing that Taraba has not received ₦350 billion under the initiative. According to her, the immediate transaction under consideration is an initial tranche of approximately ₦35 billion, subject to regulatory and statutory processes.
Regarding the US$268 million EBID financing agreements, Dr Adi explained that the facilities are intended to fund an integrated industrial park, irrigated rice production and processing, and a 50-megawatt solar power project. She emphasised, however, that signing the agreements does not constitute receipt of the funds, as disbursement remains contingent on applicable conditions, regulatory processes and statutory approvals.
The Commissioner urged the public to avoid conflating existing debt, approved facilities and undisbursed financing to arrive at a single figure, warning that such an approach could create a misleading picture of the state’s financial position.
She reaffirmed the administration of Governor Agbu Kefas’s commitment to responsible borrowing, transparency, accountability and ensuring that financing supports measurable development while remaining within the state’s repayment capacity.