₦airaland Forum

Lagos, Delta and Ogun are the three States with the highest domestic debt figures in Nigeria as of June 30, 2022, DAILY POST has learnt.

According to the Debt Management Office (DMO), many States have borrowed more between the first and second quarters of the year 2022. In March, the 36 States and the Federal Capital Territory had a domestic debt of N4,842,838,992,386.22. However, this has risen to N5,281,277,033,703.91 as at the end of June.

As of the time under review, Lagos State has borrowed a total of N797,305,312,602.53. This shows that the debt profile of Lagos has increased from the N780,476,880,563.06 it was in March 31, 2022.

Also, the debt stock of Delta State skyrocketed within the three months period. From N163,478,454,259.54 in March this year, Governor Ifeanyi Okowa’s administration has increased the domestic debt of Delta to N378,878,236,830.76. This represents over 100 percent increase from March to June this year.

Ogun on the other hand is owing a total of N241,782,021,304.96. Though it stands among the top three most indebted States, Ogun debt figure has marginally reduced from the N241,979,216,147.55 it was in March.

A document released by the Debt Management Office indicates that Rivers is the fourth with a debt stock of N225,505,011,356.55. The DMO said Rivers State’s debt figure was as at September 30, 2021. No reason was given for the refusal of the South-South State to update its debt profile over a year ago.

DAILY POST reports that Imo State, with a domestic debt of N210,394,836,519.93, is the fifth. The State has borrowed more as the DMO report shows that the debt figure of Imo was N204,612,397,430.39 in March.

Akwa Ibom is sixth on the list, having borrowed a total of N203,951,611,822.07. This is a slight increase from the N203,112,373,546.77 it had in the first quarter of the year.

It was gathered that Cross River has a debt profile of N176,086,197,586; Oyo has borrowed N159,906,877,910; Osun and Bayelsa are owing N150billion each, while Plateau and Benue State owe N144.60billion and N143.54billion, respectively, as of the time under review.

In the same vein, Bauchi has borrowed up to N129billion; Kano, N125 billion; Gombe, N123.6billion; Adamawa, N120.6billion; Ekiti, N119.5billion; Zamfara, N115.7billion; Edo, N112.1billion; Kwara, N110.5billion; Abia, N107.6billion and Borno, N102.4billion.

Also, Yobe State has over N96.6billion as its domestic debt profile; Taraba, N90.8billion; Kogi has N90.5billion; Sokoto has N89.9billion; Enugu, N89.9billion; Niger, N80.9billion; Kaduna, N78.1billion; FCT has N75.7billion; Nasarawa, N72.9billion and Anambra, N72.4billion.

DAILY POST notes that Jigawa is the State with the lowest debt profile having borrowed a sum of N45,135,377,621.30. However, the debt profile of Jigawa also rose with over N3billion between March and June 2022. As of March, Jigawa’s domestic debt was N41,629,971,249.71.

Jigawa is followed by Ebonyi with N59.1billion; Kebbi, N60.4billion; Ondo with N62.2billion and Katsina with N66.6billion.

Meanwhile, many Nigerians have continued to seek explanations about the modes of borrowing these loans, the repayment plans and the purpose for which the monies are borrowed.

Source: https://dailypost.ng/Domestic-debt-Lagos-Delta-Ogun-Rivers-lead-as-States-borrow-N5.28trillion

We are surviving on debt in this country.
May God help Nigeria

Lol.

I actually don’t care too much about debt.

But they should show us what they did with it. That’s the main thing.

Debt shouldn’t be a stigma so long the result can be seen.

Continue

Lol�

My state..

despite all the oil we have,how we never be like Dubai, I just don't MF UNDASTAND.

Even after asaba massacre ,no conscience from this present and past governors to make us proud

Something is wrong somewhere..I swear to God

TueH for politicians.

ndi ala

Ebonyi people no go ever owe like Lagos.



NDI EBONYI ALL OVER THE WORLD , I LAW YO!

U

Delta is now funding Atiku Campaign

80percent of the money are now in politicians personal account; Nigeria has long way to go

Is Okowa doing project in the sky ni?

There is basically no monumental project done by the Okowa administration, yet Delta State with her 'most allocated state status', 13% oil derivation and massive loans has nothing to show for it.

I sometimes wonder what Okowa do with these money? He is just stealing Delta State money and wasting it on his vice presidential pursuit.

Okowa is a criminal, over a 100 billion borrowed within the space of four months. Chai

Okowa has finish delta state una dey call ibori thief but ibori dey learn work. Governorship candidate sherrif never enter if u see d massive hotel wey he dey build enh he and my father na friends that y I want sheriff to win if not na omagege I for support

No Be Small Thing ooooo

Useless and foolish politicians. Borrowing away the future of generations yet unborn and looting it back . Non of these selfish politicians have come up with a plan on how to repay the debt they stock piled

MadarasBlade:
Okowa is a criminal, over a 100 billion borrowed within the space of four months. Chai

delta state is in trouble an illiterate will take over for him in sheriff

Okowa na PDP's cash cow na

I wonder why a state like Rivers State should be fourth on that list. 13% derivation , huge IGR and Federal allocation was all Wike needed to work.

But hell no, he must be the president of Nigeria and so he needs to borrow to buy his ambition. Wasting scarce resources on his nonsense ambition.

Wike must account for all the looted and wasted Rivers money.

The pattern of borrowing of this states are crazy, just like the federal government also. They can do better by explaining the purpose of borrowing and the payback pattern and duration to the public.

Last embezzlement

Did he use it to bribe his way to VP?

No place for okowa in aso villa

Delta brrowing over 200B in 3 months.

Campaign money.
My concern is that the governors who took this loan will not be the one to pay back from his pockets.It is the citizens that will pay through various tax increase of commodities.
Buhari has increased VAT, import duties, corporate tax, withholding tax.All this money are being looted by his government politicians while he goes to China to borrow more money.

For those shouting APC and PDP without using yr brain have u seen that yr futures and that of yr grandchildren have been mortgage in this debts by yr so called politicians some change would be dished out to you during election the huge sum would be kept for themselves and their 7th generations while u wallow in misery and pain beating yr chest for them