- Nigeria's total domestic debt stock stood at N4.04 trillion ($11.17 billion) as of September 31, 2019.
- Lagos state accounts for 10.9% of the domestic debt stock.
- Business Insider SSA looks at the 15 most indebted states in Nigeria as at Q3 2019.
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The 15 highly indebted states in Nigeria right now
L-R: Babajide Sanwo-Olu, President Muhammadu Buhari and Obafemi Hamzat
At $1.2 billion, Lagos state accounted for 10.9% of the country's total domestic debt stock at N4.04 trillion ($11.17 billion) as of September 31, 2019, according to a report by Nigerian Bureau of Statistics.
On the most indebted states to domestic lenders in Q3 2019, Lagos, Rivers, and Delta emerged as the three states with heavy debt among the 36 Nigerian states, including the Federal Capital Territory, Abuja.
From Left: Governor Nasir El-Rufai of Kaduna State, President Muhammadu Buhari and Governor Yahaya Bello of Kogi State. (TheCable)
Pulse Nigeria
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Yobe State has the least debt stock in this category with a contribution of 0.7% to the total domestic debt stock.
Overall the country's total public debt portfolio stood at N26 trillion ($72 billion).
Business Insider SSA looks at the 15 most indebted states in Nigeria as at Q3 2019:
- Lagos N441.67 billion
- Rivers state N266.94 billion
- Delta N230.57 billion
- Akwa Ibom N237,40 billion
- Cross River N167.97 billion
- Imo N148,90 billion
- Osun N141.79 billion
- Ogun N140.99 billion
- FCT N137,86 billion
- Bayelsa N127.24 billion
- Kogi N123.44 billion
- Kano N117.34 billion
- Plateau N108.97 billion
- Bauchi N105.20 billion
- Benue N98.44 billion.
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