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Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu - Politics - Nairaland

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Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by NaijaRoyalty(m): 4:51pm On Mar 19, 2019
The Kwara Government on Tuesday said the state’s debt currently stands at N30.2bn with a monthly repayment of N496m.

The Commissioner for Finance, Demola Banu, told newsmen in Ilorin that this was contrary to some speculations.

According to him, the debt was N31.4bn in 2017 and N30.7bn at the end of 2018, contrary to social media speculation of N50.2bn.

Giving a breakdown of the current indebtedness, Banu explained that the loan included N15.3bn balance of the Federal Government restructured loan, N4bn salary bailout, excess crude account loan outstanding of N9.3bn and vehicle loan balance of N128m.

Others are the Commercial Agriculture Credit Scheme and Anchor Borrowers Programme Agriculture Scheme with respective balances of N646m and N679m as well as International Aviation College loan balance of N96m.

Banu said that the repayment of N496m was being deducted from the state’s monthly federal allocation, adding that the figure included a monthly deduction of N39m as repayment for foreign loans obtained by the government in the 1970s.

Banu said that the Federal Government restructured the state government’s short and long-term bank loans to reduce monthly repayment, while the state also benefited from a five billion salary bailout loan in 2015.

The commissioner said that the excess crude account loans were Federal Government-backed bank facilities which served as seed money for the Kwara Infrastructure Development Fund (IF-K) and payment for ongoing projects in the state.

He said that the CACS and ABP were state-government guaranteed Central Bank of Nigeria loans to farmers in the state.

(NAN)

https://punchng.com/kwara-debt-is-currently-n30-2bn-not-n50-2bn-says-commissioner/

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by ojun50(m): 5:12pm On Mar 19, 2019
Make them pay am, na them use am

3 Likes

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by richidinho(m): 5:13pm On Mar 19, 2019
Even at 50bn, its the lowest compared to states with highest IGR like Lagos (1trillion), Ogun (280bn), Kano (300bn)

4 Likes 2 Shares

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Amuocha: 5:16pm On Mar 19, 2019
Amazing clarification...

Lai's APC would increase it to N120bln in 4 years time. Useless party sad

3 Likes 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by NaijaRoyalty(m): 5:22pm On Mar 19, 2019
Amuocha:
Amazing clarification...

Lai's APC would increase it to N120bln in 4 years time. Useless party sad

APC na useless party na

6 Likes 3 Shares

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Femich18(m): 7:12pm On Mar 19, 2019
30 Billion Kwa?
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Staro: 7:13pm On Mar 19, 2019
So small then

1 Like 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by SOLUTION99(m): 7:13pm On Mar 19, 2019
How much Kaduna and Kano dey own
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Nobody: 7:13pm On Mar 19, 2019
grin
What difference is?

Maybe Abdulfattah paid 20bn because he will soon hand over. #cleanhouse.

1 Like

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by fikiman7000(m): 7:15pm On Mar 19, 2019
richidinho:
Even at 50bn, its the lowest compared to states with highest IGR like Lagos (1trillion), Ogun (280bn), Kano (300bn)
Who's talking about IGR?

2 Likes

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by EponOjukwu: 7:15pm On Mar 19, 2019
richidinho post=:
Even at 50bn, its the lowest compared to states with highest IGR like Lagos (1trillion), Ogun (280bn), Kano (300bn)

You forgot to add that of Abia State. Ebonyi nko? Anambra?

Ikpeazu was accused of collecting loan to use and buy drinks and you're here talking nonsense.

They are using the future of Amaniro and other Abians to pop Hennessey and you're typing nonsense here.
http://247ureports.com/2018/09/ikpeazu-wastes-billions-on-drinks-as-state-plunges-into-perpetual-debt/

11 Likes 3 Shares

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by DBossNG(m): 7:16pm On Mar 19, 2019
undecided
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by yemmight(m): 7:16pm On Mar 19, 2019
What is amazing clarification. Even with 32billion gbese wetin dey take the money do? May be you think that figure is moi-moi. If Lagos take any loan, we all see what they do with it. Saraki and the gang sucked the state like it belong to them. Anyway. God dey.

7 Likes 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by blackboy(m): 7:17pm On Mar 19, 2019
How much is mega rich Lagos debt? Them all day owe.
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by iammo(m): 7:17pm On Mar 19, 2019
undecided

Africans mostly Nigerians think debt is a sin or crime , without knowledge of your Credit worthiness, or income level

1 Like

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by DemolaUnbias(m): 7:20pm On Mar 19, 2019
Gbese for incoming Government
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Honor10: 7:20pm On Mar 19, 2019
NaijaRoyalty:


APC na useless party na

PDP is more useless.

5 Likes 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by ShameOnAPC: 7:20pm On Mar 19, 2019
Better than Osun state debts
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by EponOjukwu: 7:21pm On Mar 19, 2019
NaijaRoyalty:


APC na useless party na

Ikpeazu collected loan and used the money to buy Hennessey. Election time, he's spraying kerosene on Igbos as if they are cockroaches.

That man is the most stupid PhD holder globally. It is Governors like Ikpeazu that Igbos deserve.

http://247ureports.com/2018/09/ikpeazu-wastes-billions-on-drinks-as-state-plunges-into-perpetual-debt/

6 Likes 2 Shares

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Honor10: 7:22pm On Mar 19, 2019
richidinho:
Even at 50bn, its the lowest compared to states with highest IGR like Lagos (1trillion), Ogun (280bn), Kano (300bn)

So compared That Lagos to kwara, or to Ogun or to Kano, at least we are seeing the effect in the states, what is the effect of kwara debt in the state.

For your information, USA is the country with the highest debt, debt is nothing if it is use for something significant, not to be looted by PDP or use to pay salary.

6 Likes 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by EponOjukwu: 7:24pm On Mar 19, 2019
iammo:
undecided
Africans mostly mostly Nigerians think debt is a sin or crime , without knowledge of your Credit worthiness, or income level

Using debt to pop Hennessey like Ikpeazu nko?

Every resource in the hands of profligate leaders is a curse.

5 Likes 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by richidinho(m): 7:24pm On Mar 19, 2019
fikiman7000:

Who's talking about IGR?

what that my small grammar mean be say, Lagos with highest IGR is owing 1Trillion naira
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by iammo(m): 7:27pm On Mar 19, 2019
EponOjukwu:


Using debt to pop Hennessey like Ikpeazu nko?

Every resource in the hands of profligate leaders is a curse.

cry
But he popped kerosene for them na

2 Likes

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by richidinho(m): 7:29pm On Mar 19, 2019
Honor10:


So compared That Lagos to kwara, or to Ogun or to Kano, at least we are seeing the effect in the states, what is the effect of kwara debt in the state.

For your information, USA is the country with the highest debt, debt is nothing if it is use for something significant, not to be looted by PDP or use to pay salary.

Tell us what they did with the money, common light rail of 20yrs still uncompleted?

2 Likes 1 Share

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by penplus: 7:30pm On Mar 19, 2019
What was the money used for?

2 Likes

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by EponOjukwu: 7:31pm On Mar 19, 2019
iammo:

cry
But he popped kerosene for them na

I guess that's their own share.

They drank kerosene like insects

1 Like

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Staro: 7:31pm On Mar 19, 2019
yemmight:
What is amazing clarification. Even with 32billion gbese wetin dey take the money do? May be you think that figure is moi-moi. If Lagos take any loan, we all see what they do with it. Saraki and the gang sucked the state like it belong to them. Anyway. God dey.


Gerraway joor.

Lagos debts is over #1 trillion. Now, tell us what the money was used for.

Meanwhile, Lagos is still ranked as the second worst city to live in the world

Lagos - Badagry road is uncompleted. They have not done a quarter of the work.

The Lagos rail network is nearly abandoned.

Lagos does not have a reliable public water system like most other cities, even Nigerian cities.

3 Likes 2 Shares

Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by Honor10: 7:31pm On Mar 19, 2019
richidinho:


Tell us what they did with the money, common light rail of 20yrs still uncompleted?

They swallow it, Odenson
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by NaijaRoyalty(m): 7:36pm On Mar 19, 2019
Hmm
Re: Kwara Debt Is Currently N30.2 Bn, Not N50.2 Bn - Demola Banu by yemmight(m): 7:37pm On Mar 19, 2019
Staro:



Gerraway joor.

Lagos debts is around #600b. Now, tell us what the money was used for.

Meanwhile, Lagos is still ranked as the second worst city to live in the world

Lagos - Badagry road is incompleted. They have not done a quarter of the work.

The Lagos rail network is nearly abandoned.

Lagos does not have a reliable public water systems like most other cities, even Nigerian cities.

Please list for me what they used the money for in Kwara ans I will list that of Lagos for you. Simple.

3 Likes

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