Economy
Top 20 Nigerian states with highest domestic debt stock in Q1 2024
Published
2 weeks agoon
By
Sub-editor
Nigeria’s public debt stock which includes external and domestic increased by 24.99 per cent on a quarter-on-quatre basis in Q1 2024.
This is according to a debt profile published by the Nigeria Bureau of Statistics (NBS) in June 2024.
The report indicated that external debt was 46.05 per cent versus domestic debt of 53.95 per cent.
Like the names implies, external debts are borrowed from foreign lenders while internal debts are borrowed within the borders of the country such as money borrowed from a Nigerian based bank to fund a government project.
In total Nigerian states including the FCT owe 4.068 trillion in domestic debts.
Below is a list of the top 20 Nigerian states (including the FCT), with most domestic debts as of Q1 2024.
20. Gombe – N70.8 billion
Gombe state is a northwestern state in Nigeria with 11 Local Government Areas. The current governor is Inuwa Yahaya.
The Jewel in the Savannah (Gombe’s slogan), according to the NBS report has an external debt of N70,810,781,008.35 as of Q1 2024.
19. Edo – N72.3 billion
Edo state is a southern state in Nigeria with 18 Local Government Areas. With Benin City as capital, Edo state is known for its bronze sculptures, ivory carvings, and beadwork.
The HeartBeat Of The Nation (Edo’s slogan) as of Q1 2024 owes N72,379,108,806.38 domestic debts.
18. Enugu – N82.4 billion
Enugu state is a southeastern state in Nigeria with 17 Local Government Areas. The state is recognised for its tourism and agriculture. Some of the popular festivals in Enugu include Enugu State Festival and the Nkanu Cultural Festival.
The Coal City (Enugu slogan) owes a total domestic debt of N82,475,946,115.69 as of Q1 2024.
17. Niger – N86 billion
Niger state is a northwestern state in Nigeria. It has 25 Local Government Areas. Kainji National Park is a popular tourist destination in the state.
The Power State (Niger’s slogan) owes N86,070,461,145.70 in debt as of Q1 2024.
16. Osun – N87 billion
Osun state is a southwestern state in Nigeria with 30 Local Government Areas. It is popular for its Osun Osogbo festival which attracts both local and foreign traditional worshippers yearly.
The Land of Virtue (Osun’s slogan) owes N87,014,347,468.48 as of Q1 2024.
15. FCT – N94 billion
The Federal Capital Territory (FCT) is the capital of Nigeria. It is located in the north central part of the country, a position which is central to all parts of the country.
Created in 1991, the FCT as of Q1 2024 owes N94,005,038,997.06 in debts.
14. Oyo – N98.77 billion
Oyo state is a southwestern state in Nigeria with rich history and also the location of the great Oyo Empire, one of the most powerful and influential empires in West Africa.
It has 33 Local Government Areas. As of Q1 2024, the Pace Setter State (Oyo’s slogan) owes N98,778,959,804.79 in debts.
13. Bayelsa – N103.2 billion
Bayelsa is a state in southern part of Nigeria, historically home to the Ijaw Kingdom. The state was created in 1996 from part of Rivers state.
The Glory of all lands (Bayelsa slogan) as of Q1 2024 owes N103,231,321,073.24 in domestic debts.
12. Adamawa – N103.5 billion
11. Plateau – N107.3 billion
10. Bauchi – 108.3 billion
9. Abia – N113.7 billion
8. Benue – N116.7 billion
7. Akwa Ibom – N142.9 billion
6. Cross River – 156.1 billion
5. Imo – N163 billion
4. Ogun – N221.2 billion
3. Rivers – N232.5 billion
2. Delta – N334.8 billion
1. Lagos – N929.4 billion
Follow us on Instagram and Facebook for Live and Entertaining Updates.
Always visit NewsWireNGR for the latest Naija news and updated Naija breaking news.
NewsWireNGRLatest News in Nigeria
Send Us A Press Statement/News Tips on 9ja Happenings: [email protected].
Advertise With Us: [email protected]
