Lagos State is number one among the highly indebted states in Nigeria in both external and domestic debts with N1.043 trillion in 2018, the latest report by the Economic Confidential has shown.


While the external debt stock of Lagos amounts to N513.514 billion, the local debt stock settled at N530.243 billion.

In the publication’s Annual High Indebted States (AHIS) report on 2018 External and Domestic Debts, the amount owed by Lagos represents about 20 percent of the total debts owed by the 36 states and the Federal Capital Territory (FCT) which is N5.376 trillion in 2018.


Other highly indebted states for the external debt stock included Edo, Kaduna, Cross River and Bauchi with $276.25m (N99.45bn), $227.25m (N81.81bn), $188.77m (N67.95bn) and $133.93m (N48.21bn) respectively.

Among the first five highly indebted states in the local debt stock, Lagos emerges tops with N530.243 billion, followed by Delta with N228.805 billion, Rivers with N225.592 billion, Akwa Ibom with N198.663 billion and Cross Rivers with N167.955 billion.

The report further shows that outside Lagos, other highly indebted states for foreign debt are Rivers with N253.772 billion, Delta with N251.589 billion, Cross River with N235.914 billion and Akwa Ibom with N215.099 billion.


The five states on the list of least indebted states in the external debt stock are Taraba $21.611m (N7.780bn), Borno $21.618m (N7.782bn), and Yobe $27.486m (N9.895bn).

Others were Plateau and Kogi with $28.874m (N10.394bn) and $31.584m (N11.370bn), respectively.

Five states account for the lowest in both domestic and external debts.


Yobe state has a total of N37.667 billion, Jigawa N46.586 billion, Sokoto N52.723 billion, while Katsina and Niger states have N53.220 billion and N63.915 billion respectively.

Though, the FCT as a state, its external debt profile for 2018 is $31.848 million (N11.465bn) while the domestic debt is N164.245bn bringing a total of its external and domestic debts to N175.710bn.

It is generally known that most of the states’ internally generated revenue barely cover projects and most rely heavily on monthly federal allocations from the Federation Account Allocation Committee (FAAC).

https://dailypost.ng/2019/06/02/lagos-debt-hits-n1trn-economic-confidential-releases-list-high-low-indebted-nigerian-states/amp/

Lagos has huge IGR that when you check well can offset the debt in 2 months.

Keep your eyes on our IGR potentials and not on the debt which we took to increase our IGR.

IGR figures will make our children happy and pay our rents and health bills.

Sanwolu might spend his first term paying debts and be voted for non performance by 2023

And the prices of Beer and cigarette is going higher everyday.

Even Olosho's are not dropping prices

So what's all this debt really used for.

AllenSpencer:
And the prices of Beer and cigarette is going higher everyday.

Even Olosho's are not dropping prices

So what's all this debt really used for.

What's a bullion van doing in a private compound?

Gbeseeee, Eko ti bajeoo

SLAP44:
Lagos has huge IGR that when you check well can offset the debt in 2 months.

Keep your eyes on our IGR potentials and not on the debt which we took to increase our IGR.

IGR figures will make our children happy and pay our rents and health bills.

You spoke well partially

What about ikpeazu?

You need to channel more energy on him ooo

iwaeda:
Gbeseeee, Eko ti bajeoo

You lack sense of reasoning

sarrki:


You spoke well partially

What about ikpeazu?

You need to channel more energy on him ooo

I think we need to talk more about those who cannot pay their workers. Osun state is looking for another big loan.

sarrki:

You lack sense of reasoning

lalasticlala abusing someonebis lack if home trainning

iwaeda:


lalasticlala abusing someonebis lack if home trainning

You also show that you lack basic knowledge

SLAP44:


I think we need to talk more about those who cannot pay their workers. Osun state is looking for another big loan.

Like I rightly said am ready to defend any government that is working either be it Pdp or Apc even apga

The guy is new we will judge him soon

Ikpeazu wasted 4 years nothing to show for it

Yet you still vote him coz he’s Pdp

sarrki:

You also show that you lack basic knowledge

Awon omo iran kiran, abuse is their own defence

Its not the debt size that counts. But the revenue. Once it can service the debts it OK

Bb

Watch how some will go sentimental on financial update.....



A debt is dangerous

sarrki:


Like I rightly said am ready to defend any government that is working either be it Pdp or Apc even apga

The guy is new we will judge him soon

Ikpeazu wasted 4 years nothing to show for it

Yet you still vote him coz he’s Pdp

mumu, is he an abia man?