Taraba Govt Debunks ₦1.2 Trillion Debt Rumour
Last update: August 10, 2026
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Wait, ₦1.2 TRILLION in three years? Taraba State says - not at all. Here’s what the books are actually saying.
Okay, so you might have seen that viral claim that Taraba State borrowed a whopping ₦1.2 trillion in just three years. Well, the state government is saying that's completely false and misleading.
Speaking to journalists in Jalingo on Sunday, the Commissioner for Finance, Dr Sarah Adi, set the record straight with figures straight from the Debt Management Office (DMO).
According to her, as of December 31, 2025, Taraba’s domestic debt stood at ₦85.51 billion. In fact, that’s actually a reduction of about ₦2.45 billion from the ₦87.96 billion they met before Governor Agbu Kefas assumed office.
She also explained that the DMO report people were quoting from March 2023 was actually reflecting the debt position as of September 2022 - not the current picture.
On external debt? She said it moved from about $46.47 million in December 2022 to roughly $48 million in December 2025 - a relatively modest increase, though forex fluctuations can affect it.
And what about that ₦206.78 billion commercial bank facility approved by the House of Assembly in 2023 involving Zenith, UBA, Fidelity and Keystone Bank? The Commissioner said an approved facility is not the same as outstanding debt. The real balance depends on how much was actually drawn, repaid and restructured.
Same goes for the much-talked-about ₦350 billion capital market programme. She clarified Taraba has NOT received ₦350bn. The programme is still going through regulatory approvals and will be raised in tranches, with only about ₦35 billion being considered as an initial tranche.
She also touched on the three financing agreements worth about $268 million signed with the ECOWAS Bank for Investment and Development (EBID) on June 26, 2026, for an industrial park, irrigated rice production and a 50-megawatt solar project. Signing does not mean cash has dropped - there are still conditions and approvals before any disbursement.
Her advice? Don't just add everything together. Existing debt, approved facilities, outstanding balances, and proposed financing are four different things. Lumping them together will only give you a scary but false number.
She added that the Kefas administration welcomes scrutiny, but it has to be based on verified facts.
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