States under heavy debt burden, exceed debt to revenue ratios

Ogun State had net revenue of N39.64 billion, a debt of N130.42 billion and a debt to revenue ratio of 328.97%. The state, therefore, had passed the limit set by the DMO by 278.97%.

For Plateau State, the revenue stood at N43.89 billion while the debt stood at N109.23 billion. The debt to revenue ratio stood at 248.9% while it had gone beyond the limit by 198.9%.

Edo had net revenue of N69.17 billion, total debt of N171.63 billion and debt to revenue ratio of 248.13%. It overstepped the limit by 198.13%.

For Bauchi, the revenue stood at N54.02 billion while the debt stood at N133.48 billion, thereby giving debt to revenue ratio of 247.1%. The state exceeded the limit by 197.1%.

Adamawa had revenue of N49.51 billion, a debt of N119.68 billion and a debt to revenue ratio of 241.73%. It exceeded the limit by 191.73%.

Kaduna had revenue of N68.84 billion, a debt of N154.4 billion and a debt to revenue ratio of 224.26%. It exceeded the limit by 174.26%.

For Nasarawa, the revenue stood at N47.55 billion while the debt stood at N103.53 billion. The state exceeded the 50% ratio by 167.73%.

Imo had revenue of N54.18 billion, a debt of N117.05 billion and a debt to revenue ratio of 216.04% and therefore exceeded the limit by 166.04%.

Oyo had revenue of N59.29 billion, a debt of N123.75 billion and a debt to revenue ratio of 208.72%. It exceeded the limit by 158.72%.