In an unorthodox move, the Governor-Elect of Kano State, Abba Kabir Yusuf, on Saturday issued a public advisory regarding the suspension of all public debts owed by the Kano State Government.
The advisory, which was signed by Chief Press Secretary Sanusi Bature Dawakin Tofa, directed all existing and prospective lenders to seek the express consent of the incoming administration before issuing any loan facility to the state government.
According to the advisory, this suspension will be in effect from March 18 to May 29, during which no loan facility will be approved without the explicit consent of the new administration.
Any loan approved during this period without the knowledge and consent of the incoming administration will not be honoured by the new government, it added.
The advisory also states that all existing loan facilities with the Kano State Government will be renegotiated by the new administration based on an utilisation audit/review of each loan facility.
The move is said to be aimed at ensuring that the state government’s debt portfolio is properly managed and utilised for the benefit of the people.
The governor-elect was quoted as emphasising the importance of the advisory in the interest of the public.
He stated, “This advisory is aimed at ensuring that the state government’s debt portfolio is properly managed and utilized for the benefit of the people of Kano State. It is a measure that will safeguard the state’s economic and financial stability, and we urge all lenders to comply with this directive.”
The governor-elect has also been in the news recently for his warning to members of the public to stop building on public land acquired, prompting outrage by the incumbent governor Abdullahi Ganduje, who noted that he remains in office until May 29.
This latest move by the Governor-Elect has been met with mixed reactions from the public.
Some have commended the move as a necessary step towards ensuring the financial stability of the state, while others have expressed concern about the potential impact on the state’s ability to access funding for key projects and initiatives.
It remains to be seen how this public advisory will be received by lenders and what impact it will have on the state’s finances in the coming months.
However, the governor-elect and his team appear determined to take decisive action to address the state’s debt situation and ensure that public resources are properly managed for the benefit of the people.