Nigeria’s Top 10 States With Highest Debt Profiles in 2018
A recent report released by the National Bureau of Statistics (NBS) shows that Nigerian States are facing major challenges managing both domestic and foreign debts.
In a recent seminar organised on the outlook of the economy in 2019, Dr Ayodele Teriba pointed out that the high debt of sub-nationals reflects a major problem with domestic liquidity, or what he calls a “liquidity glut”. This refers to the absence of fiscal revenues to cover capital and recurrent annual budget expenditures.
For Domestic Debt; Lagos(South-West) with N530.2bn, Delta (South-South) with N228.8bn and Rivers (South-South) with N225.5bn emerged the top three(3) states with the highest debt profile.
Recommended: See The Debt Profile Of All Nigerian States 2019
Top 10 States with Highest External Debt Profile
The top ten sub-national debt profile reveals the usual suspects as follows :
- Lagos(South-West) N1.42trn ,
- Edo (South-South) N276.2bn
- Kaduna (South-West) N227.2bn