₦airaland Forum

Not less than 31 state governments in Nigeria borrowed N457.17 billion to pay salaries to their respective civil servants. This borrowing was facilitated through the Salary Bailout Facility (SBF), an intervention by the Central Bank of Nigeria (CBN).

Here are the top 10 states that benefitted most from the loan:

10. Abia State
Abia State secured the tenth position with an amount of N14.27 billion disbursed for salary payments. Known for its commercial hub in Aba, which is famous for crafts and footwear, the state has had to navigate economic challenges, likely leading to this borrowing.

9. Kaduna State
Kaduna State follows with N14.47 billion. As a key industrial center in Northern Nigeria, Kaduna’s borrowing underscores the economic pressures faced by this state, which is also struggling with cases of insecurity.

8. Ondo State
Ondo State, renowned for its cocoa production and rich cultural heritage, borrowed N14.86 billion. The state’s reliance on federal allocations and this borrowing indicates a need to diversify its revenue base.

7. Benue State
Known as the “Food Basket of the Nation,” Benue State required N15.7 billion. Despite its agricultural prowess, the state’s need to borrow points to fiscal strains in managing its administrative responsibilities.

6. Edo State
With a disbursement of N15.76 billion, Edo State is sixth on the list. The state, famous for its rich history and as a cultural nerve-center of the old Benin Empire, has sought financial intervention to meet its governmental obligations.

5. Osun State
Osun State, with a loan amount of N15.93 billion, holds the fifth spot. Known for its tourist attractions like the Osun-Osogbo Sacred Grove, the state’s economic activities are diverse, yet salary payment requires central borrowing.

4. Oyo State
In fourth place, we have Oyo State which obtained N16.81 billion. As one of the larger states by population and economy, particularly with Ibadan being a major urban center, the state still had to turn to the CBN for fiscal support.

3. Kano State
Kano State, a major commercial and agricultural hub in Northern Nigeria, borrowed N20.21 billion. This substantial amount reflects its large civil service and the state’s efforts to maintain stability in its government services.

2. Kogi State
Just a notch below the top borrower is Kogi State, with a loan of N20.26 billion. The state has a strategic location with several natural mineral resources but still faces economic challenges leading to the need for borrowing to pay salaries. The state is also the most expensive state to live in Nigeria.

1. Imo State
At the top of the list is Imo State, which borrowed the highest amount at N20.46 billion. Imo’s economy is heavily reliant on oil and agriculture, but the size of its public sector workforce and the huge burden of salary arrears has likely necessitated significant borrowing to manage salary payments.

successmatters:
APC states will dominate the list as usual. APC is a curse unto humanity.

Goodvibes007:
Oyo, Abia, Osun, Edo, Kano

successmatters:
Osun was APC
Oyo was APC
Kano was APC
Edo was APC

helinues:
Monthly Oyel money have increased since we stopped paying fuel subsidy, the state that are owning dont have any excuse of not paying.

successmatters:
Inflation has also increaded.

helinues:
Be calming down when mentioning me.

Why are you always in haste?

successmatters:
Stop changing my words

helinues:
Monthly Oyel money have increased since we stopped paying fuel subsidy, the state that are owning dont have any excuse of not paying.

The 10 Onigbese states

SoNature:
If federal allocations to states increased and inflation worsened, nothing has changed. Get that simple logic!

helinues:
Be calming down when mentioning me.

Why are you always in haste?

SoNature:
Imo State borrows so much and nothing to show for it. If Hope Uzodinma doesn't pay for his evil deeds in Imo State, his children or children's friends will pay heavily for it. Karma, believe it or not, is real!

successmatters:
Osun was APC
Oyo was APC
Kano was APC
Edo was APC
The other 5 are still APC till today.

SoNature:
If federal allocations to states increased and inflation worsened, nothing has changed. Get that simple logic!

helinues:
Monthly Oyel money have increased since we stopped paying fuel subsidy, the state that are owning dont have any excuse of not paying.

The 10 Onigbese states

Gadafii:
oga leave karma outside, that bitcccch no longer interested in those things jare

By now shouldn't abacha children and family be paying for the sins of their father if karma was real in the lives of Nigerian politicians


Did you watch the recent family video the abacha family released breaking their fast in Paris, these guys are still balling hard so disembark from that karma talk... why wait for karma when they should be made accountable by the law and justice delivered