Lagos, Delta and Ogun are the three States with the highest domestic debt figures in Nigeria as of June 30, 2022, DAILY POST has learnt.
According to the Debt Management Office (DMO), many States have borrowed more between the first and second quarters of the year 2022. In March, the 36 States and the Federal Capital Territory had a domestic debt of N4,842,838,992,386.22. However, this has risen to N5,281,277,033,703.91 as at the end of June.
As of the time under review, Lagos State has borrowed a total of N797,305,312,602.53. This shows that the debt profile of Lagos has increased from the N780,476,880,563.06 it was in March 31, 2022.
Also, the debt stock of Delta State skyrocketed within the three months period. From N163,478,454,259.54 in March this year, Governor Ifeanyi Okowa’s administration has increased the domestic debt of Delta to N378,878,236,830.76. This represents over 100 percent increase from March to June this year.
Ogun on the other hand is owing a total of N241,782,021,304.96. Though it stands among the top three most indebted States, Ogun debt figure has marginally reduced from the N241,979,216,147.55 it was in March.
Be the first to comment