Recent figures released to the public by the Debt Management Office, shows that the richest state in the country, Lagos State, is its biggest debtor as well. The state was said to have accumulated N542 billion in domestic debt as at March 2019.
The Debt Management Office in its figures published, further listed Rivers and Delta States, both of which are oil producing states, as occupying the second and third positions respectively.
According to the report, Rivers State has a domestic debt figure put at N225.6 billion, while Delta which follows closely at third, has a domestic debt figure of N223.4 billion.
Another oil rich state, Akwa Ibom, sits in the fourth position with a huge debt profile at N199.7 billion. At fifth place is Cross River State with a domestic debt profile put at N167.2 billion.
The Federal Capital Territory, which is dependent on the Federal Government for funds occupies the sixth spot with a debt profile of N163.5 billion.
In the seventh, eighth and ninth spots is Osun with a debt burden of N247 billion, Bayelsa at N133.3 billion and Kano State with N121.3 billion debts profile respectively.
Ekiti state completes the top ten with a debt burden of N118 billion.
See the full list below.
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