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Adamawa Debt Profile N115bn- Transition Committee

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Chairman, Adamawa Transition Committee, Ismaila Numan, said the state is indebted to N115billion, 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; other staff claims were 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 the committee urged incoming government to be proactive in sourcing funds for capital projects.

The committee recommended 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 serves as answer to skeptics of the state.

Fintiri noted that, he had never been under any illusion about the magnitude of the job that people had elected him to do and promised to carry everyone along.

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