• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

      AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy…

      Google Search Tech Digest

      7 Smart Google Search Tips That Will Save You Hours By…

      U.S. VISA

      REVEALED: Why US Reduced Visa Validity for Nigerians to 3 Months…

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs Takes Anti-Money Laundering Fight to the Skies

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs, ICPC and the Audit of Conscience

  • National
    • Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Customs Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDAC

      President Muhammadu Buhari

      Rat Story Was a Smokescreen to Divert Attention from Buhari’s Health…

      Nigerian Banks

      Nigeria’s Second Chance at a Global Cashless Future By Fatimah Yusuf…

      Air Chief Rallies New Intelligence Officers for Proactive Security Response

      Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Customs, NAFDAC Activate MoU to Fight Substandard Products By Abdullah Maiwada

    • Government
      • Mohammed Idris

        Local Government Autonomy Not Negotiable — FG Declares

        NELFUND

        NELFUND Resumes Monthly Upkeep Payments, Credits Over 3,600 Students

        Seal of the Nigerian Senate

        NNPCL Must Account for ‘Unreconciled’ N210tr in Financial Statements – Senate…

        Senator Kashim Shettima

        Presidency Debunks Misleading Reports on VP Shettima’s Remarks at Book Launch

        Shamsedeen Babatunde Ogunjimi

        OAGF Explains Delay in June Salaries for Some Civil Servants

  • Security
    • Defence Minister Abubakar Badaru

      Nigeria’s Future Rests on Smart Defence Management — Badaru to Military…

      Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Customs Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDAC

      Troops Intercept 3 Gunrunners, Seize Weapons, Cash in Kaduna

      Military Troops

      Troops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQ

      Soludo and Radda’s Candid Confessions on Homegrown Terror By Tahir Ahmad

  • Features
    • Soludo and Radda’s Candid Confessions on Homegrown Terror By Tahir Ahmad

      Nigerian Banks

      Nigeria’s Second Chance at a Global Cashless Future By Fatimah Yusuf…

      Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Customs, NAFDAC Activate MoU to Fight Substandard Products By Abdullah Maiwada

      Crowned Prince Salman of Saudi Arabia

      Rebranding Royalty: Saudi Arabia’s Response to Iran’s Fall By Baba El-Yakubu

      Kanam Ambush: The Danger of Embarking on an Unauthorized Mission By…

  • State
    • Troops Intercept 3 Gunrunners, Seize Weapons, Cash in Kaduna

      Soludo and Radda’s Candid Confessions on Homegrown Terror By Tahir Ahmad

      Police repatriates Chinese Fugitive wanted for Tax fraud

      Police Arrest, Repatriate Chinese Fugitive Wanted for Tax Fraud

      court Judiciary

      Murder of Wedding Guests: Plateau Court Remands 20 Suspects

      Army Vows to Tackle Oil Theft, Restore Nigeria’s 2mbpd Output

  • Event
    • Asiwaju Adegboyega Solomon Awomolo

      47 Years of Excellence: Honoring Asiwaju Awomolo, SAN

      NCoS inmates

      58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Troops of the Nigerian Army giving a salute

      162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

      SCN NGO signs partnership with PRNIGERIA

      SCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects

    • PR Nigeria Award
  • E-Paper
Home Economy Kwara Debt Profile Stands at N30.2bn
  • Economy

Kwara Debt Profile Stands at N30.2bn

By
Prnigeria
-
March 19, 2019
Kwara Governor Abdulfatah
Kwara Governor Abdulfatah

Kwara Debt Profile Stands at N30.2bn

The Kwara State Government has clarified that contrary to speculation in the social media, the state’s current debt profile stands at N30.2 billion with a monthly repayment of N496m.

According to the State Commissioner for Finance, Alhaji Demola Banu, the debt stood at N31,481,082,712.95 in 2017 and N30,751,665,421.83 at the end of 2018, contrary to rumours and speculation of N50.2b.

Giving a breakdown of the current indebtedness, Banu explained that the N30.2b includes N15,325,541,483.03 as the balance of the Federal Government restructured loan, N4,002,948,667.07 as salary bail out, excess crude account loan outstanding of N9,324,613,607.52 and vehicle loan balance of N128,916,612.87.

Read Also:

  • Local Government Autonomy Not Negotiable — FG Declares
  • Nigeria’s Future Rests on Smart Defence Management — Badaru to Military Leaders
  • Customs Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDAC

Others are the Commercial Agriculture Credit Scheme (CACS) and Anchor Borrowers Programme (ABP) Agriculture Scheme with respective balances of N646,213,285.03 and N679,233,857.13 as well as International Aviation College loan balance of N96,165,095.64.

While clarifying that the repayment of N496,367,109.08 is deducted from the state’s monthly federal allocation, Banu added that the figure includes a monthly deduction of N39,632,016.56 as repayment for foreign loans obtained by the government in the 1970s.

Giving a further breakdown, Alhaji Banu explained that the federal government restructured the state government’s short- and long-term bank loans to reduce monthly repayment, while the state also benefitted from a N5b salary bailout loan in 2015.

Additionally, the commissioner stated that the excess crude account loans were federal government-backed bank facilities which served as seed money for the Kwara State Infrastructure Development Fund (IF-K) and payment for ongoing projects in the state while CACS and ABP are state-government guaranteed Central Bank of Nigeria (CBN) loans to farmers in the state.

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Kwara Debt Profile
  • N30.2bn
Previous articleBuhari Renews FMC Makurdi, Director
Next articleSheikh Sulaiman: Kidnappers of Buhari’s Prayer-Warrior Demand N300m Ransom
Prnigeria
Prnigeria
http://www.PRNigeria.com

RELATED ARTICLESMORE FROM AUTHOR

Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy and National Security

Google Search Tech Digest

7 Smart Google Search Tips That Will Save You Hours By Shuaib S. Agaka | Tech Digest

U.S. VISA

REVEALED: Why US Reduced Visa Validity for Nigerians to 3 Months in Reciprocal Policy Shift

Comptroller General Nigerian Customs Bashir Adewale

Nigeria Customs Takes Anti-Money Laundering Fight to the Skies

Comptroller General Nigerian Customs Bashir Adewale

Nigeria Customs, ICPC and the Audit of Conscience

Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

Comptroller General Nigerian Customs Bashir Adewale

Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO Chair

WTO Lauds Nigeria Customs for Embracing Global Trade Standards

Nigeria, Rwanda Sign Landmark Tax Treaty to Boost Cross-Border Investment

Bashir Adewale Adeniyi MFR

Nigeria Customs, India Forge Deeper Bond on Trade Oversight

Managing Editor of Image Merchants, Mr Abdulrahman Abdulraheem, PR Expert, Celestine Achi and the Editor-in-chief, Yushau Shuaib presenting the book to PRNigeria center

PRNigeria Commends New Book on Artificial Intelligence in Public Relations

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Local Government Autonomy Not Negotiable — FG Declares
  • Nigeria’s Future Rests on Smart Defence Management — Badaru to Military Leaders
  • Customs Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDAC
  • Troops Intercept 3 Gunrunners, Seize Weapons, Cash in Kaduna
  • Troops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQ
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Local Government Autonomy Not Negotiable — FG DeclaresNigeria’s Future Rests on Smart Defence Management — Badaru to Military LeadersCustoms Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDACTroops Intercept 3 Gunrunners, Seize Weapons, Cash in KadunaTroops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQSoludo and Radda’s Candid Confessions on Homegrown Terror By Tahir AhmadRat Story Was a Smokescreen to Divert Attention from Buhari’s Health - Garba Shehu RevealsNigeria's Second Chance at a Global Cashless Future By Fatimah Yusuf UsmanAir Chief Rallies New Intelligence Officers for Proactive Security ResponseCustoms, NAFDAC Activate MoU to Fight Substandard Products By Abdullah MaiwadaNELFUND Resumes Monthly Upkeep Payments, Credits Over 3,600 StudentsNNPCL Must Account for ‘Unreconciled’ N210tr in Financial Statements - Senate InsistsPresidency Debunks Misleading Reports on VP Shettima’s Remarks at Book LaunchPolice Arrest, Repatriate Chinese Fugitive Wanted for Tax FraudMurder of Wedding Guests: Plateau Court Remands 20 Suspects
X whatsapp