₦airaland Forum

The Nigeria Extractive Industries
Transparency Initiative (NEITI) says that the
debt burden of the 36 states of the federation
rose to over N3.342 trillion as of 2016.

Lagos, Delta, Osun and Akwa Ibom topped the
debt chart, with a total debt profile of N1.262
trillion representing about 38% of debts owed by
the 36 states of the federation.

The break down shows that Lagos was indebted
to the tune of N603.25 billion, Delta, N331.95
billion, while Osun and Akwa Ibom are owing
N165.91 billion and N161.23 billion respectively.

The South Eastern states of the country owes a combine debt of #257.74 bn. This represents about 7 percent of the total debts of the entire 36 states, which stands shamefully at #3.3 bn.

The Highest indebted state of the region is APC controlled Imo, which stands at #88 bn while APGA contolled Anambra State has the least debt at #20.6 bn. PDP controlled States of Enugu (#57.56 bn), Ebonyi (#46.05 bn) and Abia (#44.93 bn) have an average debt of #49.51 bn.

The NEITI publication also expressed concern
that the total indebtedness of N3.342 trillion by
the 36 states represented 55.15 percent of the
2016 budget of N6.06 trillion and 45.8 per cent of
the 2017 budget estimates of about N7.3 trillion.

With a patry 7% of the entire debts, which appears sustainable in the long run, South East scored another Plus.

https://www.thecable.ng/neiti-lagos-delta-osun-lead-as-36-states-debt-burden-rise-to-n3-3trn

The usual debtors tops the list...after all the purported IGR that trounces that of the entire World put together ..What use is the so-called 'humongous IGR if borrowing is the normal revenue generation apparantly?

.Borrow borrow culture at play here...Borrow to throw parties,borrow jewelries,clothes and shoes to show off at such parties and pretty much every thing else

..Borrow borrow borrow just to be what they are not..At the end of the day,the debts amassed cancelles out the wealth purportedly generated in real terms..shame.

The break down shows that Lagos was indebted
to the tune of N603.25 billion, Delta, N331.95
billion, while Osun and Akwa Ibom are owing
N165.91 billion and N161.23 billion respectively.

The He-goat don mortgage the future of the state, with little to show apart from some work projects with large kick backs.

Mr fake igr. make them keep manipulating igr figures to feel good but reality will continue to expose them

Good development, by the time the appology of a country is inevitably divided, every region will pay its own debt respectively. I just dey laugh Aregbe and how he sold Osun state. Imagine a very poor state to be owing such humongous debt? It will surely take generations to pay off that debt!

Rochas

GavelSlam:
Owing 350 million dollars and that is the mortgage?

Can't really understand your question bro.
Can you please rephrase it?