28 state governors to transfer debt burden worth N5.8 trillion to next administration

Apart from the 28 state governors who are either leaving office or seeking reelection, the report has also shown that the Federal Capital Territory is included as the new administration will be inheriting some debt.

The debts owed by the states are classified into external debts which are monies borrowed from foreign or international creditors like the World Bank (About $3.15 billion or N1.42 trillion based on the exchange rate of the Central Bank of Nigeria), and domestic debt which are monies borrowed from local creditors (about N4.38 trillion).

According to the Punch, the state with the highest debt profile is Lagos with a domestic debt of N877.04 billion and a foreign debt of $1.27 billion.

Kaduna state followed closely with a domestic debt of N86.86 billion and external debt of $586.78 million. The state with the next highest debt is Rivers, with a domestic debt of N225.51 billion and foreign debt of $140.18 million.

From the 28 states, these governors would be seeking reelection after their first term elapses this year - Governors Mohammed Yahaya of Gombe; Babagana Zulum (Borno); Abdullahi Sule (Nasarawa); Seyi Makinde (Oyo); Mai Buni (Yobe); Bello Matawalle (Zamfara); Babajide Sanwo-Olu (Lagos); Ahmadu Fintiri (Adamawa); Dapo Abiodun (Ogun); Bala Mohammed (Bauchi) and Abdulrahman Abdulrazak of Kwara state.

The governors who will not be seeking re-election are Emannuel Udom (Akwa Ibom); Samuel Ortom (Benue) Ifeanyi Okowa (Delta); David Umahi (Ebonyi); Mohammed Abubakar (Gombe) Aminu Masari (Katsina); Bello Bagudu (Kebbi); Abubakar Bello (Niger); Aminu Tambuwal (Sokoto); Simon Lalong (Plateau) and Darius Ishaku of Taraba.

Others include Kaduna State Governor, Nasiru El-rufai; Abdulahi Ganduje (Kano); Victor Ikpeazu (Abia); Ifeanyi Ugwuanyi (Enugu); Ben Ayade (Cross Rivers) and Nyesome Wike of Rivers.