The new Gombe State Governor, Muhammadu Inuwa Yahaya, has made revelations after organising a transition committee to review the authenticity of all handover documents left by the previous administration, and their findings indicated that the previous governor, Ibrahim Hassan Dankwambo, incurred ₦119 billion debt in the state.
The 31-member transition committee, which was inaugurated on April 3, conducted an extensive research and their revelation showed a huge interest-bearing debt which was overwhelming compared to the state's government revenue profile.
The committee research was based on review of finances, status of assets, domestic and external debts along with state liabilities.
The committee chairman, Muhammed Kabir Ahmad, stated: “Local debts increased from N5.95b in 2011 to N63.45b in May 2019. This led to rising debts profile, which stood at N119b as at May 29, 2019.
"The previous administration embarked on expansionary fiscal policy largely financed by constant borrowing.”
He further explained, “After proper review into the state's fiscal position since 2011, it shows the previous administration received ₦11.76 billion and ₦5.6 billion from Paris Club Refund towards the end of May 2019.
“With all the money allocated to the previous government, from approved budgets to allocated funds it is unimaginable how Gombe incurred a ₦119 billion debt in the eight years of Ibrahim Dankwambo’s reign as governor of the state.”
The chairman of the the committee, Mohammed Kabir, and his committee believe their findings would help the new governor of the state. Meanwhile, the preceding governor, Hassan, has denied these findings and described it as “false”.