Abba Yusuf, the Governor of Kano State, voiced his dismay on Monday regarding the N241 billion debt inherited from the previous administration led by Abdullahi Ganduje.

Yusuf, who was declared the winner of the March 18 governorship election, was inaugurated as the 19th governor of the state at the Sani Abacha stadium in Kano.

Representing Ganduje, Usman Alhaji provided a summary of the administration’s activities during its eight-year tenure (2015-2023).

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He disclosed that the state government’s expenditures from June 2015 to May 2023 amounted to a total recurrent commitment of N660.3 billion, with total capital expenditure of N540.6 billion, resulting in a cumulative expenditure of N1.2 trillion.

Ganduje further revealed the current state debt profile, which included N75.6 billion owed to Kano State Banking Funds Trustees, N9.2 billion for the state government, N66.3 billion for local governments, and N4.5 billion for pension contract liabilities.

The total debt stock, both internal and external, stood at N123.3 billion, resulting in a total liability of N241.5 billion as of December 31, 2022.