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  • News - North West - Kaduna
  • Updated: April 02, 2024

Kaduna: Shehu Sani raises alarm over payment of $350m debt amid high exchange rate

Kaduna: Shehu Sani raises alarm over payment of $350m debt a

Former Senator representing Kaduna Central Senatorial District, Shehu Sani has cried foul over the payment of the $350 million loan by the state government amid the high exchange rate.

Sani stated that he is against the loan request by the administration of Former Governor Nasir Ahmad El-Rufai, a stand which earned him condemnation from the people.

He said: “We borrowed $350 million when the Naira was N400 to the dollar and we are going to pay when the Naira is what it is today.”

Sani disclosed this in reaction to the revelation by Governor Uba Sani over the weekend that the state was heavily indebted and unable to pay salaries.

He explained that the state was in its current quagmire because it rejected his advice against the loan request.

“The hour of reckoning has come for every citizen of the state. I was insulted for saying no to that loan. The hour of reckoning is here to every person in Kaduna State.

“Just like the way Lot (in the Bible) warned people, prophets of the past warned people, but they refused to hear and then you see pedition and affliction.

“In the same way, I warned the people of this state, but they were told that the money will bring paradise — land of milk and honey.

“Today, you can see the problems at hand as far as that loan was concerned.

“If you look at what I said about this state, there has never been any of my predictions that has not come to pass. Today the state is strangulated because of that money which we couldn’t pay."

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