The Kano State Government has reaffirmed its determination to minimize financial risks, strengthen investor confidence, and ensure that all borrowings are channeled into productive and developmental projects.
This commitment was made by the State Commissioner of Finance, Dr. Isma’ila Aliyu Danmaraya, while declaring open a two-day workshop on the development of the Kano State 2026–2027 Medium-Term Debt Management Strategy (MTDS), during the weekend in Dutse, Jigawa State.
Dr. Danmaraya explained that the initiative is anchored on the provisions of the Kano State Public Debt Management Law, 2021, which provides a legal and institutional framework for managing public debt.
He noted that Section 16(1) of the law requires the conduct and annual update of the MTDS, while Section 14(1) and Section 27 mandate House of Assembly approval for borrowings and the preparation of annual borrowing and recovery plans, respectively.
“This is not merely a compliance exercise but an essential tool to guide how the state borrows, manage the costs and risks of our debt portfolio, and ensure that all borrowings are consistent with fiscal sustainability,” he stated.
According to the Commissioner, the MTDS will serve as a blueprint to align borrowing decisions with principles of transparency, accountability, and long-term sustainability, ensuring that loans taken will directly contribute to growth in key sectors such as infrastructure, health, education, and economic development.
Highlighting recent fiscal reforms, Dr. Danmaraya revealed that the Ministry of Finance had recently completed the Medium-Term Expenditure Framework (MTEF), which laid the foundation for the state’s fiscal projections.
He emphasized that the MTDS complements the MTEF, forming a coordinated framework for debt and expenditure management that will support the 2026–2028 Fiscal Strategy Paper.
“Together, the MTEF and MTDS represent a coherent fiscal and debt management architecture designed to help Kano State deliver on its development priorities without jeopardizing financial stability,” he said.
Stakeholders at the workshop, including financial experts, lawmakers, and development partners, are expected to review borrowing patterns, debt sustainability indicators, and financing options to ensure the state remains on a sound financial path.
Dr. Danmaraya assured that the Yusuf-led administration remains committed to prudent financial management, positioning Kano as a model for responsible debt management in Nigeria.
