NIGERIANS TOTAL PUBLIC DEBT ROSE BY 2.38 trillion nairas to reach 31.01 trillion as at the end of June.

Public debt means the accumulation of annual budget deficits. It's the result of years of government leaders spending more than they take via tax revenues

And this includes the total debt owed by the federal government, the 36 states of the federation, and the FCT.

My interest is domestic debt. That is money borrowed from the residents of the country, (It's quite more dangerous than the external debt that stands at 9.82 trillion nairas) to enhance the financing of the revised 2020 appropriation act.

However, the 36 states of the federation's domestic loans stand at N4.19 trillion.

Lagos State accounts for the highest debt stock among the 36 states and FCT.

NOTE: THIS LIST WAS DRAFTED FROM BUSINESS A M NEWSPAPER.

1. Rivers states owes N266.9 billion
2. Akwa Ibom states N239.2 billion
3. Delta states N235.8 billion
4. Cross river states N165 billion
5. Imo states N158 billion
6. Bayelsa states N150 billion
7. Yobe states N29.2 billion
8. Jigawa states N36 billion
9. Ebonyi states N41 billion
10. Katsina N44.4 billion.

The other states are under review.

These loans have good benefits, in terms of developing a state, paying salaries, etc.
But to a point. The state will experience deficits in growth.

Read about the public debt here https://www.thebalance.com/what-is-the-public-debt-3306294

Even the so called oil rich state with less development are borrowing upon the fact that they receive bumper federal allocation...one day,this country will sink.

Samfloxin:
Even the so called oil rich state with less development are borrowing upon the fact that they receive bumper federal allocation...one day,this country will sink.

I think it's very difficult to run a nation without the above-mentioned loans.

Delta and imo state, what are they doing with loans if I may ask?

Who is giving loan to non performing states?

The oil states are plenty on that list.

What have they been doing with the allocations they've been getting?

You mentioned the top ten states and Edo state isn't there, Edo state used to be in top ten, that shows how far the Edo state governor has done to prosper and take the state out of the doldrums of debts the state was before he came in.

oz4real83:
You mentioned the top ten states and Edo state isn't there, Edo state used to be in top ten, that shows how far the Edo state governor has done to prosper and take the state out of the doldrums of debts the state was before he came in.

Yes edo owe a lesser debt than the above-listed states.

SavageMaster:
The oil states are plenty on that list.

What have they been doing with the allocations they've been getting?

The allocation is not enough to facilitate the financing of the revised 2020 appropriation act. But those states need to adjust before it gets worse.