Yobe, Anambra least owing

Lagos, Delta, Osun and Akwa Ibom led the total debt profiles of state governments as at December 2016, according to the Nigeria Extractive Industries Transparency Initiative (NEITI).

It puts the four states total debt at N1.262 trillion representing about 38 per cent of debts owed by the 36 states of the federation, which NEITI put at N3.442 trillion.

The breakdown shows that Lagos was indebted to the tune of N603.25 billion, Delta owes N331.95 billion, Osun and Akwa Ibom owe N165.91 billion and N161.23 billion respectively, as at 2016.

This was contained in the third edition of NEITI Quarterly Review, a researched publication of NEITI, which focuses on Federation Account Allocation Committee (FAAC) disbursements in 2016.

The publication with facts and data from the National Bureau of Statistics, Office of the Accountant General of the Federation, FAAC and Debt Management Office, is consistent with the mandate of NEITI on monitoring of fiscal allocation and statutory disbursement of revenues due to the three tiers of government.

NEITI’s legitimate interest in the debt profiles, revenue generation and management in Nigeria is as a result of the fact that over 70 per cent of the revenues involved are derived from the extractive industry.

From the NEITI Quarterly Review currently in circulation, states with high debt burden include Benue indebted to the tune of N49.15 billion; Edo N94.54 billion; Enugu N57.56 billion; Ekiti; N67.3 billion and Kano with N81.05 billion. The Publication further disclosed that Katsina was indebted to the tune of N30.03 billion while and Ogun owes N103.75 billion, as at 2016.

The review shows that Yobe and Anambra states have the least debt burden of N11.74 billion and N20.60 billion respectively as at the end of 2016.

The NEITI publication expressed concern that the total indebtedness of N3.342 trillion by the 36 states represented 55.15 per cent of the 2016 budget of N6.06 trillion and 45.8 per cent of the 2017 budget estimates of about N7.3 trillion.

On internally generated revenue (IGR), Lagos and Rivers states ranked highest with N301.2 billion and N82.1 billion generated by the respective states in 2016. Nasarawa State was the least in internal generated revenue with N2.09billion.

This was followed by Ogun, Delta, Kano and Edo states with IGR records of N56.3 billion, N44.9 billion, N34.5 billion, N20.7 billion respectively. The review noted that ratio of IGR to budget was very low in most states except Lagos state that recorded more than 45 per cent of its 2016 budget from IGR.


Source. http://t.guardian.ng/news/lagos-osun-delta-akwa-ibom-lead-states-n3-4tr-debt-profile/

something must be done

Anambra will always get it right....round peg in round hole.

What did osun do with the huge money borrowed? Oshogbo is looking like a pit toilet, very backward state.

Ugomba:
What did osun do with the huge money borrowed?
Oshogbo is looking like a pit toilet, very backward state.

To alleviate poverty.

Osun again. Lagos, Delta and Akwa Ibom are understandable (High allocation and IGR) but why Osun Why borrow beyond your capacity?? APC Nigeria released fake data the other day claiming that Osun is now out of debts, Now see real data saying otherwise

Folks in Delta need to challenge this Okowa govt. Too little to show for so much!

But i guess, like Ibori, he's their son. So...

h

Osun will never finish paying that debt in 75years to come. Why would a state like Osun ever support restructuring because they always need FG allocation to survive

CarlosTheJackal:
Osun will never finish paying that debt in 75years to come. Why would a state like Osun ever support restructuring because they always need FG allocation to survive

True talk but Osun state is not the only state most states at in a state of near coma

Ugomba:
What did osun do with the huge money borrowed?
Oshogbo is looking like a pit toilet, very backward state.

Osun IGR is far bigger than all southeast states put together, least in poverty in the whole of Africa according to coneheads, you and I saw pictures of IDP camps spring up left and right, charity organizations donating arms to Osun people few months after the incidents, they are now pushing their propaganda as least poverty state, what I now understand about their propaganda, nature has ways of disgracing them with their lies

AustineE1:
Anambra will always get it right....round peg in round hole.

That's why we don't need APC looter as a governor in Anambra state nor the clueless PDP gangs.

One funny thing is, outside lagos and ogun state the rest of yoruba state depend solelelly on federal allocations to offset their bills. What if tommorow something happen to crude oil, how will they survive, on what will their relapse to?




Maybe this is the major reason why yorubas are the loudest proponent of ONE NIGERIA

Haba why attack Yorubas all the time; if oil should dry up today all the states will suffer including Lagos.

The Yorubas have fertile land with a moderate population and an average literacy rate, they'll survive without one Nigeria. They won't be rich but food and brown roof shelter won't ever be a problem.

statistics

Why always posting old IGR figure for Rivers?
Can you clean that thing. For 2016 the IGR for Rivers State wasn't submitted. 82bn is since 2014.


The IGR for Rivers is about 116bn

Legal scam every were in nigeria

Bashi(Onigbese) States.

greatnation2:

Osun IGR is far bigger than all southeast states put together, least in poverty in the whole of Africa according to coneheads, you and I saw pictures of IDP camps spring up left and right, charity organizations donating arms to Osun people few months after the incidents, they are now pushing their propaganda as least poverty state, what I now understand about their propaganda, nature has ways of disgracing them with their lies

Tell me something

Ugomba:
What did osun do with the huge money borrowed?
Oshogbo is looking like a pit toilet, very backward state.

Why are you asking when you know the answer. Nigerian politicians doing what they know best making money disappear with nothing to show for it.

They stole all we earned, borrowed and stole it again...heartless rulers

Scream:
They stole all we earned, borrowed and stole it again...heartless rulers

All na game plan

Aregbesola is in the league of their Ibori,Alamesigha and Peter Odili in terms of stealing but the APC press have white-washed him the same way they keep on whitewashing a man whose only achievement as Governor was properly taxing a state which already had a well-established tax Base.

Ambode d useless rogue

LAGOS debt is scaring, DELTA, OSUN watin una take una own do？

Maduawuchukwu:
Aregbesola is in the league of their Ibori,Alamesigha and Peter Odili in terms of stealing but the APC press have white-washed him the same way they keep on whitewashing a man whose only achievement as Governor was properly taxing a state which already had a well-established tax Base.

Are you he is the only current governor