Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria - Politics

Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria (3166 Views)

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Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by ariesbull(op): 7:59am On Mar 05

🇳🇬 LAGOS STATE OWES MORE DOMESTIC DEBT THAN ANY OTHER GEOPOLITICAL ZONE IN NIGERIA

Geopolitical Zone — Domestic Debt

South West — ₦1.43 trillion
South South — ₦1.00 trillion
North Central — ₦496.05 billion
North East — ₦482.02 billion
South East — ₦375.04 billion
North West — ₦215.43 billion

🟣Lagos alone — ₦1.05 trillion

Lagos accounts for 73% of the South West’s total debt

Lagos’ debt is larger than any other geopolitical zone except its own region

🟣SW

#Statisense
(DMO, Q3 2025)

9 Likes 1 Share

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by ariesbull(op): 8:02am On Mar 05

STATES WITH THE HIGHEST DOMESTIC DEBT IN NIGERIA

(State Domestic Debt Stock — Q3 2025)

Top 12

1 🟣 Lagos — ₦1.05 trillion
2 🟤 Rivers — ₦381.21 billion
3 🟤 Delta — ₦247.17 billion
4 🟢 Enugu — ₦194.72 billion
5 🟣 Ogun — ₦168.09 billion
6 ⚫ Bauchi — ₦158.20 billion
7 🟠 Niger — ₦143.50 billion
8 🟤 Cross River — ₦141.94 billion
9 🟠 Benue — ₦107.25 billion
10 🟤 Akwa Ibom — ₦95.51 billion
11 🟢 Imo — ₦90.51 billion
12 ⚫ Taraba — ₦89.74 billion

🟠 NC ⚫ NE 🟢 SE 🟤 SS 🟣 SW

Key Insight

As of September 30, 2025, Lagos State’s domestic debt stood at ₦1.05 trillion.

Lagos alone accounts for 26.25% of the ₦4.00 trillion total domestic debt owed by all sub-national governments in Nigeria.

Lagos’ debt burden is greater than the combined domestic debt of the next four states:

Rivers — ₦381.21bn
Delta — ₦247.17bn
Enugu — ₦194.72bn
Ogun — ₦168.09bn

Combined total: ₦991.19 billion

In effect, Lagos owes more domestically than the next four most indebted states combined.

#Statisense
(NBS/DMO, Q3 2025)

1 Like

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by helinues: 8:05am On Mar 05

If you can generate the highest revenue, so as your debt will be high

9 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by AustineE1: 8:09am On Mar 05

Some people just left the chat......how can you dare say the Lagos Tinubu reclaimed and built from the Atlantic ocean,with all the taxes collected in Lagos,all the 'internally generated revenue that is more than that of west Africa',with all the ports,with almost all business headquarters in Nigeria located in Lagos and you say Lagos is so much indebted!
Who own's the conduit pipe?

23 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Frontend: 8:10am On Mar 05

helinues:
If you can generate the highest revenue, so as your debt will be high

and nothing to show for it

19 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by erai30(m): 8:10am On Mar 05

This is government of suffering and smiling,yet they are hiding the truth. Revolution is the answer to bad governance.

7 Likes 1 Share

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by SpatialKing(m): 8:10am On Mar 05

Generating IGR for Seyi Tinubu to enjoy

10 Likes 1 Share

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by helinues: 8:10am On Mar 05

Frontend:
and nothing to show for it

Pardon? I don't want to guess, just explain yourself better

1 Like

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by FreeStuffsNG: 8:11am On Mar 05

With GDP of $259.75 billion(2023), my Lagos is worth way more than 3,746 times that debt.

4 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by theophorus(m): 8:12am On Mar 05

AustineE1:
Some people just left the chat......how can you dare say the Lagos Tinubu reclaimed and built from the Atlantic ocean,with all the taxes collected in Lagos,all the 'internally generated revenue that is more than that of west Africa',with all the ports,with almost all business headquarters in Nigeria located in Lagos and you say Lagos is so much indebted!
Who own's the conduit pipe?

A Poor man has only a debt of 20k he is struggling to pay and Opay is dragging him like Tiger Generator but the Rich have debt Running to Billions but the Banks are still giving them Souvenir.

Read this again and Understand the implications.

13 Likes 1 Share

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by helinues: 8:12am On Mar 05

FreeStuffsNG:
Lagos is worth way more than 50× that debt.

Bro, why are you giving them headstart. I dey wait for them to do their lame arguments about this matter and disgrace them

7 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Mindlog: 8:13am On Mar 05

A proof that IGR benefits politicians while HDI is for the interest of the masses.

3 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by tollyboy5(m): 8:13am On Mar 05

AustineE1:
Some people just left the chat......how can you dare say the Lagos Tinubu reclaimed and built from the Atlantic ocean,with all the taxes collected in Lagos,all the 'internally generated revenue that is more than that of west Africa',with all the ports,with almost all business headquarters in Nigeria located in Lagos and you say Lagos is so much indebted!
Who own's the conduit pipe?

This thing you typed is jargons, TBH with you.

7 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Mindlog: 8:15am On Mar 05

FreeStuffsNG:
Lagos is worth way more than 50× that debt.

It will make sense if that debt is reflecting in better social services in Lagos state.

8 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by FreeStuffsNG: 8:17am On Mar 05

Mindlog:
It will make sense if that debt is reflecting in better social services in Lagos state.

It is reflecting wink

I will stop giving outsiders hint.
I do not owe you any explanation sir.

4 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Buhari4dullard: 8:23am On Mar 05

helinues:
If you can generate the highest revenue, so as your debt will be high

If Ur revenue is that high, then you won't have debts now 😆

Wait till when njja breaks, na that time Una go Sabi Agberoism no dey generate revenue 🫤

7 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by wellmax(m): 8:24am On Mar 05

The bigger you are the more debt you can owe.

USA is the most indebted country in the world.

8 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by AndroBlaze: 8:25am On Mar 05*

AustineE1:
Some people just left the chat......how can you dare say the Lagos Tinubu reclaimed and built from the Atlantic ocean,with all the taxes collected in Lagos,all the 'internally generated revenue that is more than that of west Africa',with all the ports,with almost all business headquarters in Nigeria located in Lagos and you say Lagos is so much indebted!
Who own's the conduit pipe?

if you ask this mumu who is clearly devoid of understanding the countries with the most domestic debt in the world you will see he will struggle to understand.

I am sure he is not even aware that most people regard domestic debt as healthier than foreign debt.

7 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by helinues: 8:27am On Mar 05

Buhari4dullard:
If Ur revenue is that high, then you won't have debts now 😆

Wait till when njja breaks, na that time Una go Sabi Agberoism no dey generate revenue 🫤

Please if you want to make this kind of arguments, know who to do with.

And you dey called others dullard

How come USA is also having high debt?

5 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Odin13: 8:27am On Mar 05

No be Lagos be the problem … na southwest .

As e be lik e this..
all Yoruba states are desolate and deserted from osun ogun o ndo Ekiti oyo kwara

With this huge debt

Something is seriously wrong ..

4 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by gabbasin(m): 8:28am On Mar 05

The bigger you are, the bigger your debt.

3 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by AustineE1: 8:30am On Mar 05

theophorus:
A Poor man has only a debt of 20k he is struggling to pay and Opay is dragging him like Tiger Generator but the Rich have debt Running to Billions but the Banks are still giving them Souvenir.

Read this again and Understand the implications.

This is only so in your screwed mentality and in an environment consumed by corruption,in higher climes,a billionaire that owes more than he can pay,will declare bankruptcy but it is what it is in Nigeria,your so called billionaires get away with obvious financial irregularities.
Nigerians must learn how to hold their leaders to accountability,the problem is not just the debts,is the amount owed commensurate to works it's used for?
This is the first law of public accountability,because these debts must be paid at some time by government.Who bears the brunt especially when or if not judiciously used?

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by pharmagba: 8:31am On Mar 05

AustineE1:
Some people just left the chat......how can you dare say the Lagos Tinubu reclaimed and built from the Atlantic ocean,with all the taxes collected in Lagos,all the 'internally generated revenue that is more than that of west Africa',with all the ports,with almost all business headquarters in Nigeria located in Lagos and you say Lagos is so much indebted!
Who own's the conduit pipe?

Dont show your folly and ignorance on a public domain.

Now tell me is it possible for a woman selling akara by the road side to be owing N1m debt?

3 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Mathewrichard99: 8:32am On Mar 05

How I wish the debt Of Lagos State is in commensurate proportion with the level of development. Lagos ought to have developed more than the present stage..... Presently, Lagos development is very slow even though, in comparison with other states in Nigeria, it's still the fastest but Lagos shouldn't be judged based on the development of other states.... Lagos is far far not their mate..... The development of Lagos out to be guaged with the likes of Dubai, Kuwait and Rwanda....

5 Likes

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Buhari4dullard: 8:36am On Mar 05

helinues:
Please if you want to make this kind of arguments, know who to do with.

And you dey called others dullard

How come USA is also having high debt?

America na world reserve currency, they just print more money.

Lagos has the nations HQs and busy seaports & airports.
When we break all those will vanish.

All Lagos get na Agberos & fake pastors.

1 Like

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by AustineE1: 8:40am On Mar 05

Mathewrichard99:
How I wish the debt Of Lagos State is in commensurate proportion with the level of development. Lagos ought to have developed more than the present stage..... Presently, Lagos development is very slow even though, in comparison with other states in Nigeria, it's still the fastest but Lagos shouldn't be judged based on the development of other states.... Lagos is far far not their mate..... The development of Lagos out to be guaged with the likes of Dubai, Kuwait and Rwanda....

Say no more! Only if data boys will understand that leaders must be put on their toes at all times. That's the difference between the west and Africa.

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by grandstar(m): 8:41am On Mar 05*

That means Lagos state owes 1 trillion. Its huge right?

The real question is , is the debt bearable or unbearable?

Lets say interest on the debt is 25% per annum, that means it pays about 250bn a year to service the debt.

The total revenue for Lagos state in 2024 was 2.08 tr. I couldnt find the figure for 2025, but it was targetted at 2.98tr.

250bn out 2.08tr is 12.5% of its 2024 revenue.

That means its debt is bearable. The debt is sustainable.

2 Likes 1 Share

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Macphenson: 8:43am On Mar 05

This statistics is simply saying Lagos state is the "onigbese" of Nigeria.

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by LZAA: 8:46am On Mar 05

Buhari4dullard:
If Ur revenue is that high, then you won't have debts now 😆

Wait till when njja breaks, na that time Una go Sabi Agberoism no dey generate revenue 🫤

They dunno😄😄😄
No be by lace and agbo o😄

1 Like

Re: Lagos State Owes More Domestic Debt Than Any Geopolitical Zone In Nigeria by Ofunaofu: 8:47am On Mar 05

That is Tinubu's legacies

1 2 Reply

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