– The National Bureau of Statistics has released the debt profile of each state
– According to NBS, Lagos is the most indebted state in the country
– Meanwhile, Jigawa state had the least debt stock which stands at N30.97bn
PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!
With the latest report, Lagos state accounted for 12.15 per cent of the debt stock as of the end of 2020 while Jigawa state had the least debt stock in this category with a contribution of 0.74 per cent.
Here is the list of states with their current debt profiles.
- Abia – N89.12bn (2.13 per cent)
- Adamawa – N98.9bn (2.36 per cent)
- Akwa Ibom – N230.8bn
- Anambra – N59.97bn
- Bauchi – N102.8bn
- Bayelsa – N144.13bn
Council elections: Massive victory as PDP clears seats in northern state
- Benue – N126.12bn
- Borno – N89.05bn
- Cross River – N163.16bn,
- Delta – N248.45bn
- Ebonyi – N44.21bn
- Edo – N80.78bn
- Ekiti – N84.97bn
- Enugu – N68.09bn
- Gombe – N84.72tn
- Imo – N150.2bn
- Jigawa – N30.97bn
- Kaduna – N68.75bn
- Kano – N116.93bn
- Katsina – N48.03bn
- Kebbi – N56.81bn
- Kogi – N68.09bn
- Kwara – N63.63bn
- Lagos – N508.78bn
- Nasarawa – N59.4bn
- Niger – N66.77bn
- Ogun – N153.49bn
- Ondo – N74.66bn
- Osun – N134.11bn
- Oyo – N94.5bn
- Plateau – N137.8bn
- Rivers – N266.9bn
- Sokoto – N42.36bn
- Taraba – N106.04bn
- Yobe – N54.87bn
- Zamfara – N98.02bn
- FCT – N69.5bn
Recall that Legit.ng had reported that it seems Nigeria is sinking in more debts if the statement released by the Debt Management Office is to be believed.
According to the statement, Nigeria’s total public debt rose to N32.9tn at the end of December 2020.
Investors at Nigerian Stock Market Recorded N278.57billion Loss in One Day
The report from the DMO said the figure stood at N32.2tn as of the end of September 2020. This consequently showed an increase of N700bn.
Legit.ng had also reported that the federal government was in the process of acquiring a $750million loan from the World Bank to help boost the Nigerian economy.
Based on current dollar rates, the total sum of the money in naira is N285, 375, 000 (two hundred eighty-five billion three hundred seventy-five million three hundred eighty).
This loan according to the minister of finance, Zainab Ahmed, will stimulate the local economy and support vulnerable household consumption.
Source: Legit.ng News
You may be interested
No N60bn was printed to shore up march allocation, NEC affirmsWebby - April 22, 2021
A photo taken on April 22, 2021, shows the Vice President, Professor Yemi Osinbajo, presiding over the National Economic Council…
Actress, Rita Edochie reacts to criticisms after death of Ada JesusWebby - April 22, 2021
Veteran actress, Rita Edochie, has taken to her Instagram page to react to criticisms after the death of comedienne, Mmesome…
How Prophet Odumeje, Rita Edochie humiliated critically ill Ada Jesus in church shortly beforeWebby - April 22, 2021
Controversial pastor, Chukwuemeka Odumeje, the founder of Mountain of Holy Ghost Intervention Deliverance Ministry, Onitsha, Anambra State, and actress Rita…