Ex-Nigerian Ambassador expresses concern over Taraba rising debt profile

A former Nigerian ambassador to Trinidad and Tobago, Alhaji Hassan Jika Ardo, has expressed concerns over what he described as the mortgaging of Taraba State’s financial future.

Ardo’s warning, as noted by Flying Eze, follows the recent approval by the Taraba State House of Assembly for Governor Agbu Kefas to secure a N350 billion bond.

In a telephone interview with our reporter on Thursday, the All Progressives Congress (APC) chieftain criticized the state’s growing debt, arguing that the governor has borrowed over N400 billion in less than two years without visible developmental projects to justify the expenditure.

“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 expressed sadness over the Assembly’s decision to approve such a loan without a clear roadmap for its utilization or a structured repayment plan.

Despite increased federal allocations from around N3 billion to N13 billion monthly, along with rising internally generated revenue (IGR), he lamented that there is little to show in terms of tangible progress.

“The House of Assembly should have been a check on the governor’s borrowing spree, but instead, they have approved a staggering N350 billion bond. This is dangerous, especially given the governor’s apparent lack of direction,”; he added.

Comparing the current administration to that of former Governor Darius Dickson Ishaku, Ardo claimed that Governor Kefas’ leadership has been even more disappointing.

He also criticized the alleged unfulfilled promise of free education and questioned financial allocations for projects such as the Jalingo Abattoir.

“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,” Ardo clarified.

The Taraba State House of Assembly recently approved the bond request, which is to be obtained from United Capital and Investment House. Speaker John Bonzena presented the proposal during a plenary session on Monday, March 24, 2025.

According to the Assembly, the bond is designated for key projects outlined in the 2025 budget, including health, biotechnology, waste management, energy, tourism, mining, and road infrastructure. The funds will be disbursed in N20 billion tranches over five to seven years.

However, amid growing concerns from opposition figures and financial analysts, calls are mounting for increased scrutiny of the state’s borrowing practices to prevent potential economic hardship for future generations.