The growing amount of debts incurred by the federal and state governments recently have been a source of disturbing concerns for many Nigerians.
However, some analysts have argued that debt is not a bad thing if it is put to good use. This piece examines the states with highest debts as highlighted by StatiSense which sourced its data from the Debt Management Office (DMO).
The DMO is the federal government agency in charge of managing Nigeria’s domestic and public debts.
According to the data which was last updated in December 2020, Lagos tops the list of states with the highest debt.
Lagos, Nigeria’s economic nerve centre, has a total debt of N1.04 trillion, according to the report.
It is followed by Rivers state which has a total debt of N303.8 billion. On the third spot is Kaduna state which has a total debt of N285 billion while Delta occupies the fourth sport with a total debt of N272.1 billion.
The state on the firth spot is Akwa Ibom which has a total debt of N249.1 billion. See the list of the top 12 states with the highest public debts below:
1..Lagos state: N1.04 trillion
2. Rivers state : N303.8 billion
3. Kaduna state: N285 billion
4. Delta state: N272.1 billion
5. Akwa Ibom state: N249.1 billion
6. Cross River state: N236.5 billion
7. Ogun state: N192.9 billion
8. Edo state: N187.6 billion
9. Imo state: N186.8 billion
10. Osun state: N175 billion
11. Bayelsa state: N168.1 billion
12. Gombe state: N158.3 billion