Cumulative Domestic Debts Of Nigerian States Equals ₦4tr
October 18, 2019
1:04 am
• Lagos (₦542.231b), Delta (₦223.442b), Rivers (₦225.592b)
• Jigawa (₦38.227b), Anambra (₦33.490b), Yobe (₦26.990b)
Domestic debts of the 36 states and the Federal Capital Territory (FCT) as at the end of March 2019 was ₦3.972 trillion, the Debt Management Office (DMO) has disclosed.
The debt profile includes the more than ₦600 billion bailout fund which President Muhammadu Buhari gave to states in 2016 in the wake of falling oil prices at the international market. The states had complained that they were unable to pay salaries and meet operational costs.
Although Lagos is one of the few states that …
