The action is reportedly intended to make sure that the debt portfolio of the state government is appropriately managed and put to use for the benefit of the people.
Abba Kabir Yusuf, the candidate for governor of Kano State, issued an unusual public advisory on Saturday on the suspension of all public debts owed by the Kano State Government.
Sanusi Bature Dawakin Tofa, the chief press secretary, signed the advice, which instructed all current and potential lenders to obtain the express approval of the new administration before extending any credit facilities to the state government.
No loan facility will be issued during this suspension, which is scheduled to last from March 18 to May 29, without the express permission of the next government.
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It was noted that the new administration would not honour any loans that were authorised during this time without its knowledge and approval.
The advice further adds that the incoming government would renegotiate all current loan agreements with the Kano State Government based on an evaluation of each loan agreement’s use.
The action is reportedly intended to make sure that the debt portfolio of the state government is appropriately managed and put to use for the benefit of the people.
The incoming governor was reported as emphasising the significance of the recommendation in the public’s best interests.
According to him, the goal of this advice is to make sure that the debt portfolio of the state government is properly managed and put to use for the benefit of the Kano State population. We kindly request that all lenders abide by this order, as it will protect the state’s economic and financial stability.
The governor-elect has also recently made headlines for his admonition to the public to cease constructing on newly acquired public property. This enraged the outgoing governor, Abdullahi Ganduje, who pointed out that he is still in office until May 29.
Public opinion on the governor-elect’s recent action has been divided.
While some have praised the decision as an essential step in preserving the state’s financial stability, others have voiced worry about how it would affect the state’s capacity to get funding for important projects and activities.
It is still to be seen how lenders will react to this public advice and how it will affect the state’s finances in the following months.
The next governor and his staff, however, seem committed to acting swiftly to solve the state’s debt problem and make sure that public resources are appropriately handled for the benefit of the populace.
