Oil rich Delta State has been ranked the most indebted state in Nigeria, a document by the Debt Management Office (DMO) has shown.
The state, according to DMO incurred domestic debt profile of N320.6bn as at 2015, putting it far ahead Lagos State with a debt profile of N218.6bn which polled second on the ladder.
Loading ...They were followed by Rivers, FCT and Bayelsa States, who have also accumulated local debts worth of N135bn, FCT N133 and N103bn respectively, to finish third, fourth and fifth on the state indebtedness log.
The data, which took stock as at December 2015, finds Anambra State as the least indebted state in Nigeria, with N3.6bn local debts to its name, followed by Yobe State that also have N3.9bn debt profile.
According to the data, domestic debt stock of Nigeria states jump to its highest in 2015, when states borrowing sharply increased from N1.655tn in 2014 to N2.503tn in 2015, a staggering N848.08bn increase.
States like Delta, Osun, Akwa-Ibom, increased their domestic debt stock by N108.6bn, N106.8bn and N65.81bn respectively, while there was also reduction of N49.5bn and N1.9bn in debts by Lagos and Niger in the year under review.
Below is the list of indebted state and amount:
- Abia – N33.5bn
- Adamawa – N47.2bn
- Akwa Ibom – N147.6bn
- Anambra – N3.6bn
- Bauchi – N57.6bn
- Bayelsa – N103.3bn
- Benue – N39.9bn
- Borno – N22.3bn
- Cross River – N115.5bn
- Delta – N320.6bn
- Ebonyi – N34.1bn
- Edo – N46.2bn
- Ekiti – N52.5bn
- Enugu – N37.55bn
- Gombe – N53.4bn
- Imo – N71.7bn
- Jigawa – N22.1bn
- Kaduna – N49.8bn
- Kano – N65bn
- Katsina – N11.49bn
- Kebbi – N63.7bn
- Kogi – N42bn
- Kwara – N31.9bn
- LAGOS 218.6b
- NASARAWA 40.6b
- NIGER 21.5b
- OGUN 75.9b
- ONDO 26.7b
- OSUN 144.7b
- OYO 47.4b
- PLATEAU 96.3b
- RIVERS 135b
- SOKOTO 11.7b
- TARABA 27.6b
- YOBE3.9b
- ZAMFARA 46.3b
- FCT 133.9b
Total 2,503,260,422,348.31
