Top 10 Most Indebted Nigerian States As Of Q1 2025 - Politics

Top 10 Most Indebted Nigerian States As Of Q1 2025 - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Top 10 Most Indebted Nigerian States As Of Q1 2025 (18391 Views)

Top 10 Most Indebted Nigerian States As Of Q1 2025 by ELsmile(op): 7:13am On Aug 05, 2025

Despite a marginal 4.89% year-on-year (YoY) decline in total subnational debt, Nigeria’s 10 most indebted states saw their combined debt rise by 2.49% YoY in Q1 2025, reaching N2.48 trillion, up from N2.42 trillion in Q1 2024.

The debts of these states combined now account for 64.05% of the country’s total subnational debt.

The debt profile of Nigerian states has seen significant shifts in Q1 2025, with Lagos maintaining its position as the most indebted state despite a year-on-year (YoY) decline.

Meanwhile, states like Rivers, Enugu, and Niger recorded staggering increases in their debt burdens.

The latest data released by Debt Management Office (DMO) shows a reshuffling in Nigeria’s subnational debt landscape, driven by a blend of fiscal constraints, infrastructure ambitions, oil revenue shifts, and tighter federal allocations.

This analysis explores the debt trends of the top 10 states and the key factors driving their year-on-year changes.

The 10 most indebted Nigerian states in Q1 2025
10. Akwa Ibom – N118.21 billion
9. Imo – N122.09 billion
8. Benue – N129.82 billion
7. Bauchi – N142.40 billion
6. Niger – N143.75 billion
5. Enugu – N188.42 billion
4. Ogun – N190.14 billion
3. Delta – N204.72 billion
2. Rivers – N364.39 billion
1. Lagos – N874.04 billion

https://nairametrics.com/2025/07/31/top-10-most-indebted-nigerian-states-as-of-q1-2025/

7 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by gmo10(m): 8:14am On Aug 05, 2025

Even after fuel subsidy remove and a high increase in federal allocation. High time we all focus more of our attention on the state governors.
Op where's your source

48 Likes 2 Shares

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by telleyway: 10:07am On Aug 05, 2025

ELsmile:
Despite a marginal 4.89% year-on-year (YoY) decline in total subnational debt, Nigeria’s 10 most indebted states saw their combined debt rise by 2.49% YoY in Q1 2025, reaching N2.48 trillion, up from N2.42 trillion in Q1 2024.

The debts of these states combined now account for 64.05% of the country’s total subnational debt.

The debt profile of Nigerian states has seen significant shifts in Q1 2025, with Lagos maintaining its position as the most indebted state despite a year-on-year (YoY) decline.

Meanwhile, states like Rivers, Enugu, and Niger recorded staggering increases in their debt burdens.

The latest data released by Debt Management Office (DMO) shows a reshuffling in Nigeria’s subnational debt landscape, driven by a blend of fiscal constraints, infrastructure ambitions, oil revenue shifts, and tighter federal allocations.

This analysis explores the debt trends of the top 10 states and the key factors driving their year-on-year changes.

The 10 most indebted Nigerian states in Q1 2025
10. Akwa Ibom – N118.21 billion
9. Imo – N122.09 billion
8. Benue – N129.82 billion
7. Bauchi – N142.40 billion
6. Niger – N143.75 billion
5. Enugu – N188.42 billion
4. Ogun – N190.14 billion
3. Delta – N204.72 billion
2. Rivers – N364.39 billion
1. Lagos – N874.04 billion

Look at what insensitive governance is costing us. Funny enough, most of these debts were collected in dollars and continue to increase as dollar is going high.
The present governor of Benue has never taken any loan since assuming office but look at where the careless spending of his predecessors put the state.

14 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Kukutente23: 6:12pm On Aug 05, 2025

Balabluarians will not like this news grin

How do you explain that your masterplan involves humongous debts

14 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by happney65: 6:12pm On Aug 05, 2025

Apart from maybe Lagos and Rivers. I wonder WTF others are doing there. Especiallly Ogun and Benue. Ogun under Daru Dapo is nonesense

Huge loans with absolutey nothing to show for it

17 Likes 2 Shares

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by rinzaugustine: 6:12pm On Aug 05, 2025

APC states for sure because they believe in throwing money at problems instead of practical solutions like Mr. Peter Obi proffers

26 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Ofemannnu: 6:15pm On Aug 05, 2025

gmo10:
Even after fuel subsidy remove and a high increase in federal allocation. High time we all focus more of our attention on the state governors.
Op where's your source

It was more than that.A lot of them have paid off large amount of their debts.News outlets carried the news just a couple of weeks ago.

9 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by RevenuesBoost(f): 6:15pm On Aug 05, 2025

Some come into governance and inherit the loans.

I thought I would see my state

2 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Jaylord12(m): 6:16pm On Aug 05, 2025

If you talk they will say you should go and do the work of the politicians....All we demand is a great and conducive atmosphere for the people..Is that a wrong thing to for?

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Judolisco(m): 6:17pm On Aug 05, 2025

Here are the 10 most indebted countries in the world
🔍 Summary Table

Rank Country Approx. Total Public Debt

1 United States ~$33 trillion
2 China ~$15 trillion
3 Japan ~$10 trillion
4 United Kingdom Mid‑trillions
5 France Mid‑trillions
6 Germany Mid‑trillions
7 Brazil Multi‑trillion
8 India Multi‑trillion
9 Mexico Multi‑trillion
10 Egypt Multi‑trillion

7 Likes 2 Shares

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by fergie001(mod): 6:18pm On Aug 05, 2025

gmo10:
Even after fuel subsidy remove and a high increase in federal allocation. High time we all focus more of our attention on the state governors.
Op where's your source

You don't know 60% of our problems in Nigeria have been Governors?

16 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by maxiuc(m): 6:19pm On Aug 05, 2025

So you mean with what Alex otti is he's not even in the list

Thumb 👍👍👍👍 Alex otti

12 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Softmirror: 6:19pm On Aug 05, 2025

They should sha not come and do babiallah from us like America is doing with their citizens because of debt o. 😁

52 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by kaunafemzy: 6:21pm On Aug 05, 2025

Borrowing for consumption rather than production.

Zero impact loan

1 Like

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Belurved1(m): 6:21pm On Aug 05, 2025

Imagine Ogun state with worst road network in the S/W.

11 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by maxiuc(m): 6:21pm On Aug 05, 2025

Judolisco:
Here are the 10 most indebted countries in the world
🔍 Summary Table

Rank Country Approx. Total Public Debt

1 United States ~$33 trillion
2 China ~$15 trillion
3 Japan ~$10 trillion
4 United Kingdom Mid‑trillions
5 France Mid‑trillions
6 Germany Mid‑trillions
7 Brazil Multi‑trillion
8 India Multi‑trillion
9 Mexico Multi‑trillion
10 Egypt Multi‑trillion

at least their debts is visible interms of development their development reflects why they are in debts compared to Nigeria with high debts yet no impact

9 Likes 2 Shares

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Angelfrost(m): 6:22pm On Aug 05, 2025

None of these states below Rivers have a damn thing to show for these debts... Not one!!!

Tell me what Delta State is doing that they are accumulating so much debts?!! An oil-producing state for that matter.

7 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Godfullsam(m): 6:25pm On Aug 05, 2025

gmo10:
Even after fuel subsidy remove and a high increase in federal allocation. High time we all focus more of our attention on the state governors.
Op where's your source

No pls
Let's continue to blame balablu. He is the reason why our governors are lazy, corrupt, clueless and still indebted.

45 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Justiceleague1: 6:28pm On Aug 05, 2025

If only Lagos will keep her VAT.

40 characters abeg nahhh,haba

1 Like

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Godfullsam(m): 6:28pm On Aug 05, 2025

telleyway:
Look at what insensitive governance is costing us. Funny enough, most of these debts were collected in dollars and continue to increase as dollar is going high.
The present governor of Benue has never taken any loan since assuming office but look at where the careless spending of his predecessors put the state.

Are you working in the same office with him to be so sure that he hasn't taken any loan?
Or you think they will contact you before taking loans.

45 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Vanpascore(m): 6:29pm On Aug 05, 2025

Can we see the one of Federal Government? That's what I will use to judge these states.

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Godfullsam(m): 6:30pm On Aug 05, 2025

RevenuesBoost:
Some come into governance and inherit the loans.

I thought I would see my state

I hope you are boosting revenue for your state as your Monika implies.

36 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Rubyjade: 6:32pm On Aug 05, 2025

Delta State, despite its enormous oil wealth, consistently appears in reports or rankings for negative reasons — corruption scandals, bloated budgets with minimal development impact, high recurrent expenditure, or poor human development indices. It begs the question: Where is the money going?

Meanwhile, states like Bayelsa and Rivers (PH) are in the same oil-rich zone and have similar challenges, yet sometimes manage to avoid the same level of public criticism — either because they handle PR better, or because their inefficiencies aren't as glaring (or exposed) at the time.

But fundamentally, being oil-rich has not translated into responsible governance for many of these states. The wealth has become a curse rather than a blessing — creating a cycle of entitlement, looting, and dependency on federal allocation rather than innovation or long-term planning.

My shock is valid. The real issue is not just who is on the list, but why these states with the most resources are often the most underperforming. Until accountability becomes a norm and citizens demand better with more data and less tolerance, sadly, this pattern may continue.

4 Likes

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Dogalmighty17: 6:32pm On Aug 05, 2025

What did Benue use the loans for? Nothing is developed in that state

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Rubyjade: 6:34pm On Aug 05, 2025

It’s easy to look at a list like this and panic: “Wow, the U.S. owes $33 trillion? China $15 trillion?!” But total public debt alone doesn’t tell the full story. Context matters — a lot.

🔹 Debt is not automatically bad. Countries like the U.S. and Japan intentionally take on debt to finance infrastructure, stimulate their economies, and manage growth. What matters more is how the debt is used and whether the economy is growing alongside it.

🔹 Size of the economy matters. The U.S. has a GDP of over $27 trillion — so while the debt figure is huge, it’s not the same as a smaller country owing the same amount. That’s why economists often look at Debt-to-GDP ratio rather than just raw numbers.

🔹 Debt is also a sign of trust. Countries like the U.S., UK, and Japan have the ability to borrow at low interest rates because investors trust them to repay. That’s very different from countries where borrowing comes with high risk and crippling interest.

🔹 Not all debt is created equal. Domestic debt (owed to citizens/institutions within the country) is far less dangerous than external debt. Some countries on that list owe mostly to themselves — others owe to foreign lenders, which is riskier.

So yes — the numbers are big. But what matters more is how well these countries manage, invest, and repay. Debt isn’t a death sentence — it’s a tool. Used wisely, it can be a ladder. Used recklessly, it becomes a trap.

Judolisco:
Here are the 10 most indebted countries in the world
🔍 Summary Table

Rank Country Approx. Total Public Debt

1 United States ~$33 trillion
2 China ~$15 trillion
3 Japan ~$10 trillion
4 United Kingdom Mid‑trillions
5 France Mid‑trillions
6 Germany Mid‑trillions
7 Brazil Multi‑trillion
8 India Multi‑trillion
9 Mexico Multi‑trillion
10 Egypt Multi‑trillion

7 Likes 3 Shares

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by amaridigital(m): 6:35pm On Aug 05, 2025

rinzaugustine:
APC states for sure because they believe in throwing money at problems instead of practical solutions like Mr. Peter Obi proffers

Mr Obi who couldn't buid a single school in 8 is the one proffering solution right? The advise he got from a mad man didn't help him to perform as Governor and now why should any reasonable person listen to him?

5 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Rubyjade: 6:35pm On Aug 05, 2025

Debt isn’t the enemy — but poor debt management is.
A productive debt used to invest in people and infrastructure can grow the economy.
But borrowing to fund waste, corruption, or consumption? That’s the road to disaster.

2 Likes 1 Share

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by AlphaTaikun: 6:37pm On Aug 05, 2025

ELsmile:
Despite a marginal 4.89% year-on-year (YoY) decline in total subnational debt, Nigeria’s 10 most indebted states saw their combined debt rise by 2.49% YoY in Q1 2025, reaching N2.48 trillion, up from N2.42 trillion in Q1 2024.

The debts of these states combined now account for 64.05% of the country’s total subnational debt.

The debt profile of Nigerian states has seen significant shifts in Q1 2025, with Lagos maintaining its position as the most indebted state despite a year-on-year (YoY) decline.

Meanwhile, states like Rivers, Enugu, and Niger recorded staggering increases in their debt burdens.

The latest data released by Debt Management Office (DMO) shows a reshuffling in Nigeria’s subnational debt landscape, driven by a blend of fiscal constraints, infrastructure ambitions, oil revenue shifts, and tighter federal allocations.

This analysis explores the debt trends of the top 10 states and the key factors driving their year-on-year changes.

The 10 most indebted Nigerian states in Q1 2025
10. Akwa Ibom – N118.21 billion
9. Imo – N122.09 billion
8. Benue – N129.82 billion
7. Bauchi – N142.40 billion
6. Niger – N143.75 billion
5. Enugu – N188.42 billion
4. Ogun – N190.14 billion
3. Delta – N204.72 billion
2. Rivers – N364.39 billion
1. Lagos – N874.04 billion
https://nairametrics.com/2025/07/31/top-10-most-indebted-nigerian-states-as-of-q1-2025/

https://nairametrics.com/2025/07/31/top-10-most-indebted-nigerian-states-as-of-q1-2025/

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by Samsyne(m): 6:38pm On Aug 05, 2025

Probably to build more IDP camps Cox I'm still shocked

Dogalmighty17:
What did Benue use the loans for? Nothing is developed in that state

1 Like

Re: Top 10 Most Indebted Nigerian States As Of Q1 2025 by AlphaTaikun: 6:44pm On Aug 05, 2025

Dogalmighty17:
What did Benue use the loans for? Nothing is developed in that state

Benue State recently acquired surveillance drones for security purposes and that can be factored in. Besides this is cumulative debt profile of N129.82 billion from past Benue State government loans (plus interests on loans) till the current one.

1 2 3 Reply

The 10 Most Indebted African Nations By Total Debt-to-GDP • 15 Nations Most Indebted To IMF • Most Indebted States In Nigeria 2023 • 2 • 3 • 4

My Bitter Experience With Lagos Police • Zamfara Assembly Sacks Five Councillors For Defecting To PDP • Shittu Suspends Peter Jack, NITDA Boss Over “Misconduct”