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These are the highest and lowest indebted states to local lenders in Nigeria

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  • Lagos, Rivers, and Delta states are the most indebted states in Nigeria.
  • The states with the lowest debt profile include Sokoto, Jigawa, and Niger.
  • Patience Oniha, Director-general, Debt Management Office (DMO), says the “total public debt to GDP ratio stands at 19.03% which is within the 25% debt limit imposed by the government.”

Lagos, Rivers, and Delta states are the most indebted states to domestic lenders, according to the Debt Management Office (DMO) latest report. 

The report seen by Business Insider SSA shows that domestic debt of the 36 states of the federation including the Federal Capital Territory climbed to 3.97 trillion as at March 2019.

This figure represents an increase of N120 million from N3.85 trillion recorded in December 2018.

The states with the lowest debt profile include Sokoto, Jigawa, and Niger.


Nigeria’s debt profile since 2015 under President Muhammadu Buhari-led government (BISSA)

Business Insider SSA by Pulse looks at the lowest and highest debtors in Nigeria (States) in the first quarter of 2019.

Lowest debtors to domestic lenders (States)

  • Yobe – N26.96 billion
  • Anambra – N33.4 billion
  • Sokoto – N36.5 billion
  • Jigawa – N38. 2 billion
  • Niger – 43.4 billion

Highest debtors to domestic lenders (States)

  • Cross River – N167.2 billion
  • Akwa Ibom – N199.8 billion
  • Delta – N223.4 billion
  • Rivers – N225.6 billion
  • Lagos – N542.2 billion  

From the DMO’s figures, Nigeria’s debt profile rose by 2.3% to $81.27 billion (N24.947 Trillion) from $79.437 billion in the first three months of 2019.

Patience Oniha, Director-general, Debt Management Office (DMO), reiterated that the “total public debt to GDP ratio stands at 19.03% which is within the 25% debt limit imposed by the government.”