The 36 states of the federation spent N2.67 billion to service external debt in September. The amount is contained in a report by the office of the Accountant-General of the Federation. Figures from the Debt Management Office (DMO) also showed that as at June 30, 2017, the 36 state governments and the Federal Capital Territory had a debt stock of about $3.94 billion (N1.2 trillion).
According to DMO, the states and the FCT are currently servicing loans with multilateral agencies like the World Bank and Agence Française de Développement (AFD). The breakdown of the figure showed that the top10 external debt paying states are Lagos, Cross River, Kaduna, Oyo, Akwa Ibom, Katsina, Osun, Ogun, Edo and Kano states.The data also shows that the 10 states that paid the least on external debt servicing for September are: Taraba, Borno, Plateau, Benue, Delta, Kogi, Jigawa, Nassarawa, Gombe and Niger States.
AMOUNT SPENT BY STATES ON EXTERNAL DEBT SERVICE IN SEPT, 2017
ABIA 31,326,205.88
ADAMAWA 35,765,643.6
AKWA IBOM 111,225,880.57
ANAMBRA 36,392,250.36
BAUCHI 55,909,234.76
BAYELSA 28,391,300.12
BENUE 20,792,622.92
BORNO 17,411,845.73
CROSS RIVER 231,962,506.35
DELTA 22,321,499.2
EBONYI 31,282,856.03
EDO 64,088,110.49
EKITI 45,608,594.7
ENUGU 45,799,061.67
GOMBE 30,538,887.79
IMO 46,358,595.57
JIGAWA 25,733,823.96
KADUNA 180,575,169.37
KANO 54 ,328,126.76
KATSINA 99,227,240.44
KEBBI 36,342,977.01
KOGI 23,941,292.93
KWARA 34,961,787.12
LAGOS 802,753,160.64
NASSARAWA 26,961,830.75
NIGER 30,734,086.28
OGUN 72,750,986.82
ONDO 50,606,534.74
OSUN 95,247,661.72
OYO 115,182,557.78
PLATEAU 18,708,659.81
RIVERS 48,720,437.13
SOKOTO 33,665,974.99
TARABA 17,164,063.46
YOBE 31,564,249.48
ZAMFARA 20,300,625.15
