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Adamawa Debt Profile N115 Billion Says Transition Committee Chair

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Ismaila Numan, Chairman Adamawa Transition Committee, said the state is indebted to N115 billion, accrued in the last four years of outgoing APC government in the state.

Numan said the amount  is made up of N97 billion owed by the state, comprising outstanding external and domestic loan N55.5 billion, N22.3 billion outstanding contractor claims.

He made the revelation, during the submission of the committee’s report to the PDP Governor-elect Ahmadu Fintiri in Yola over the weekend

The sum of N16.4 billion stood as pension, gratuity and death benefits and salary arrears and other staff claims N2.7 billion the report explained.

While local government council owed N18 Billion comprising of outstanding salary claims of N5.6 billion, gratuity of N1.2 billion and overdraft of N3.0 billion.

The total income/revenue received between January 2015 and March 2019 is N257.5 billion, where urged incoming government to be proactive in source funds for capital projects.

The committee, recommend for appropriate legislation for stiffer punishment of kidnappers, abductors, and collaborators of Shila boys perpetrating criminal activities in the state.

In his remarks, the Governor-elect, Ahmadu Fintiri said, what the committee has revealed about the finance of the state, is worrisome which serve as answer to skeptics of the state.

Fintiri noted that, he had never been under illusion about the magnitude of the job, that people have elected to him to do promise to carry everyone on board.

He stated that, prosperity would not forgive him if he fail to the right thing, about how the state received a combined income of N332 billion, he added.

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