Bauchi sinking under N136bn debt, Governor Bala Mohammed claims after being sworn in

Newly sworn-in Bauchi State Governor, Alhaji Bala Mohammed, has alleged that the immediate past administration in the state incurred an additional N40 billion debt,  thereby increasing the state’s indebtedness to the tune of N136 billion.

Governor Mohammed made the claim at the Abubakar Tafawa Balewa Stadium, Bauchi, moments after taking his oath of office and was sworn in on Wednesday to the delight of his supporters.

According to Governor Mohammed, he inherited a debt of N96 billion from the previous administrations and also claimed that the immediate past administration incurred additional N40 billion to bring the figure to N136 billion.

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“The unfortunate impact of this is that debt servicing will now significantly encroach on funds and short-change our cash flow.

“It means we shall be compelled to seek financial support for ambitious economic recovery plan; the difference however is that for every naira we attract, there shall be commensurate return on investment,” Mohammed said.

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