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Domestic debts of 36 states, FCT hit N3.5trn

 

The Debt Management Office (DMO), yesterday, said the domestic debt stock of the country’s 36 states and the Federal Capital Territory (FCT) stood at N3.5 trillion as at the first half of 2018.

The figure indicates that the states and FCT increased their debt stock by about N200 billion or 6.0 percent over the N3.3 trillion recorded at the end of December 2017.

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According to data released by DMO on its website, Lagos State has the highest debt stock at N517 billion or 17 percent of the total debt stock of states.

The data showed the domestic debt stock of the other states among the top five during the period under review are: Delta (N223 billion), Rivers (N191 billion), Akwa Ibom (N179 billion), and Osun (N136 billion).

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The states with five lowest debts are: Anambra (N2.6 billion), Sokoto (N25 billion), Yobe (N27 billion), Kastina (N31 billion), while while Ebonyi and Jigawa States have N34 billion each.

The other states are: Abia (N57 billion), Adamawa (N67 billion), Bauchi (N78 billion), Bayelsa (N123 billion), Benue (N93 billion), Borno (N78 billion), cross river (N125 billion), Edo (N69 billion), Ekiti (N118 billion), Enugu (N61 billion), Gombe (N42 billion), Imo (N85 billion), Kaduna (N76 billion), Kano (N95 billion), Kebbi (N54 billion), Kogi (N114 billion, Kwara (N40 billion), Nasarawa (N70 billion), Niger (N40 billion), Ogun (N105 billion), Ondo (N51 billion), Oyo (N88 billion), Plateau (N122 billion), Taraba (N60 billion), Zamfara (N70 billion) and FCT (N94 billion).

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