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Lagos, Rivers, Delta, Akwa Ibom top list of most indebted states

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Lagos, Nigeria’s commercial city, Rivers, Delta, Akwa Ibom and Cross River states are the top five most indebted states in Nigeria in the domestic debt category, recent figures from the Debt Management Office (DMO) has shown.

According to the DMO figures, Lagos as at July 30, 2019 had a domestic debt profile of over N479 billion, followed by Rivers with N266.9 billion, Delta with N233.5 billion, Akwa Ibom with N206.2 billion and Cross River with N168 billion.

Other states with domestic debt profile in excess of N100 billion include Imo with over N148 billion, Bayelsa with N133.3 billion, Federal Capital Territory, Abuja with N132 billion, Kano with N117.3 billion and Kogi with N105 billion.

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On the other hand, Sokoto and Anambra with domestic debt profiles of just over N33 billion and Jigawa with a little more than N38 billion are the least indebted states in domestic debt category.

On the foreign debt scene, Lagos with $1.2 billion is still the most indebted state, followed by Edo with $277 million, Cross River $148 million, Oyo $136 million, Bauchi $123 million, Enugu $118 million, Anambra $111 million and Ekiti $104 million.

Taraba and Borno with foreign debt profile of $21.3 million each, and Yobe with $27.2 million are the least indebted states on the other hand.

Foreign debt profile

Domestic debt profile of states

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