A former Nigerian ambassador to Trinidad and Tobago, Alhaji Hassan Jika Ardo, has voiced concerns over what he describes as the mortgaging of Taraba State’s financial future, following the approval of a ₦350 billion bond by the State House of Assembly.
In a telephone interview, Ardo, who was also the former chairman of the All Progressives Congress (APC), Taraba state chapter, criticized the growing debt of the state under Governor Agbu Kefas, alleging that the administration has borrowed over ₦400 billion in less than two years without any significant developmental projects to justify the expenditures.
“I have observed the situation in Taraba quietly, but things are getting out of hand. This government has not initiated and completed a single project since its inception—just renovations,” Ardo stated.
He further expressed disappointment over the Assembly’s decision to approve such a massive loan without a clear roadmap for its utilization or a structured repayment plan.
Despite an increase in federal allocations from around ₦3 billion to ₦13 billion monthly, alongside rising internally generated revenue (IGR), Ardo lamented that there is little tangible progress in the state.
“The House of Assembly should have been a check on the governor’s borrowing spree, but instead, they have approved a staggering ₦350 billion bond. This is dangerous, especially given the governor’s apparent lack of direction,” he added.
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Comparing the current administration to that of former Governor Darius Dickson Ishaku, Ardo argued that Governor Kefas’ leadership has been even more disappointing. He also questioned the financial allocations for key projects such as the Jalingo Abattoir and raised concerns over the governor’s unfulfilled promise of free education.
“I am not against borrowing; it is a necessary tool in governance. But when funds are borrowed and mismanaged without clear benefits to the people, it becomes a serious problem,” he said.
The Taraba State House of Assembly approved the bond request during a plenary session on Monday, March 24, 2025. The funds, to be obtained from United Capital and Investment House, are earmarked for key projects outlined in the 2025 budget, including health, biotechnology, waste management, energy, tourism, mining, and road infrastructure. The bond is expected to be disbursed in ₦20 billion tranches over five to seven years.
However, amid mounting concerns from opposition figures and financial analysts, there are increasing calls for greater oversight of the state’s borrowing practices to prevent potential economic hardship for future generations.
