By Godwin Agia, Jalingo
The Taraba State Government has dismissed reports that the state’s debt burden stands at about N1.2 trillion, saying official figures from the Debt Management Office (DMO) put its domestic debt at N85.51 billion as of December 31, 2025.
The State Commissioner for Finance, Dr. Sarah Enoch Adi, made the clarification on Sunday in Jalingo, urging the public to distinguish between approved financing facilities, funds actually drawn, outstanding debt and other financing arrangements.
According to Adi, Taraba’s domestic debt stock stood at approximately N87.96 billion before the present administration.
She said the latest DMO data showed that the figure had declined to about N85.51 billion as of December 31, 2025, representing a reduction of approximately N2.45 billion.
“The official DMO figures therefore do not support suggestions that Taraba State’s recognised domestic debt stock has risen to anything approaching N1.2 trillion,” she said.
Taraba external debt
The commissioner also disclosed that the state’s external debt stood at approximately $46.47 million as of December 31, 2022, compared with $48.04 million as of December 31, 2025.
Adi said the state government was conscious of the risks associated with foreign exchange fluctuations and would continue to ensure that external borrowing remained within sustainable fiscal limits.
N206.78bn financing approval
The commissioner further explained that the Taraba State House of Assembly approved financing facilities of about N206.78 billion in 2023 from Zenith Bank, United Bank for Africa (UBA), Fidelity Bank and Keystone Bank.
She, however, stressed that legislative approval of a financing facility does not automatically translate into an equivalent outstanding debt.
“It would be misleading to take the original approved amount and simply add it in full to the latest DMO debt stock without establishing the amount actually drawn, amounts already repaid, and the current outstanding balances,” Adi said.
She added that repayments and restructuring had occurred on some of the facilities.
Bond programme
On reports concerning the state’s proposed bond programme, Adi clarified that Taraba had not received N350 billion from the programme.
She explained that the bond programme was structured to raise funds in phases, with the immediate transaction involving an initial tranche of approximately N35 billion.
The commissioner reiterated the government’s commitment to transparency in its borrowing and financing arrangements, saying official debt figures should be relied upon when assessing Taraba State’s financial position.
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