Nigerian states increase domestic debt stock to N3.5 trillion – DMO

14 Sep 2018
Financial Nigeria

Summary

Lagos State has the highest stock of domestic debt at N517 billion, or the equivalent of 17 per cent of the total domestic debt stock of the sub-national governments.

Lagos State Governor, Akinwunmi Ambode

The Debt Management Office (DMO) stated on Thursday that the domestic debt stock of the 36 states of the federation and the Federal Capital Territory (FCT), Abuja, stood as at N3.5 trillion at June 30, 2018.

According to the latest DMO report, Lagos State has the highest stock of domestic debt at N517 billion, or the equivalent of 17 per cent of the total domestic debt stock of the sub-national governments.

Other states with high domestic debts are Delta (N223 billion); Rivers (N191 billion); Akwa Ibom (N179 billion); Osun (N136 billion); Cross River (N125 billion); Bayelsa (N123 billion); Plateau (N122 billion); Ekiti (N118 billion); Kogi (N114 billion); and Ogun (N105 billion).

The states with the lowest domestic debt profiles are Anambra (N2.6 billion); Sokoto (N25 billion); Yobe (N27 billion); Katsina (N31 billion); and Ebonyi and Jigawa states, which have N34 billion each.

Other states are Kwara (N40 billion); Niger (N40 billion); Gombe (N42 billion); Ondo (N51 billion); Kebbi (N54 billion); Abia (N57 billion); Taraba (N60 billion); Enugu (N61 billion) Adamawa (N67 billion); Edo (N69 billion); Zamfara (N70 billion); Nasarawa (N70 billion); Bauchi (N78 billion); Borno (N78 billion); Imo (N85 billion); Oyo (N88 billion); FCT (N94 billion); and Kano (N95 billion).


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