States, Domestic Debt Stock Up N3.5Trn In Q1, 2018

The Debt Management Office (DMO), on Thursday reported that the domestic debt stock of the country’s 36 states stood at N3.5 trillion as at the first half of this year.

The debt profile indicates that the states and FCT increased their debt stock by about N200 billion or 6.0 percent over the N3.3 trillion at the end of the preceding quarter.

According to the statistical data released by DMO on its website on the sub-national governments’ debt stock, Lagos State topped the table at N517 billion or 17 percent of the total debt stock of states.

The levels of some other states’ indebtedness showed that Delta had the second largest debt stock totaling N223 billion; Rivers came third with N191 billion; Akwa Ibom had N179 billion; Osun N136 billion

The other states’ debt stocks 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; and Kwara N40 billion.

Also, Nasarawa owed 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.

The five states with lowest debts are: Anambra N26 billion; Sokoto N25 billion; Yobe N27 billion; Kastina N31 billion; Ebonyi and Jigawa States have N34 billion debt stock each.