36 states September debt servicing gulp N2.67bn as Lagos tops table

Barely 24 hours after President Muhammadu Buhari expressed his displeasure over non-utilization of disbursed Paris fund, the Federal Government has disclosed that the 36 states spent N2.67 billion to service external debt in September.

Of the 36 states, Lagos topped the list, spending over N800 million servicing its foreign loan portfolio which was included in the N603.25 billion debt released by Nigeria Extractive Industries Transparency Initiative (NEITI) seven months ago.

Closely following Lagos was Cross River state with over N231.96 million, Kaduna state, N180,57 million; Oyo state, N115,18 million; while Akwa Ibom with N111,22 million completed list of five top spenders within the month under review.

Meanwhile, Katsina, Osun, Ogun, Edo and Kano states were five other states that made the top 10 states with high debt service in September.

The data also shows that the 10 states that paid the least on external debt servicing within the period under review were: Taraba, Borno, Plateau, Benue, Delta, Kogi, Jigawa, Nassarawa, Gombe and Niger States.


http://www.theguildng.com/36-states-september-debt-servicing-gulp-n2-67bn-as-lagos-tops-table/

chai! the south east are being marginalised again, they didn't make the first and last 10. Mean while, there's no need for any confirmatory test to certify that buhari is a failure.

TEST: There are lot of corrupt practices going on in this present administration + he never condemn the attacks carried out by fulani herdsmen + trying to cover up for his kins men etc

OBSERVATION: He's a president of the north, by the north and for the north

INFERENCE: (1) Lawal and Oke's case has been swept under the carpet:- Buhari is a failure suspected
(2) Emergence of Baru as chairman NGA advisory board:- Buhari is a failure confirmed

It is only prosperity that can judge those rogues called governors. They are all rogues elected to ruin people's welfare. Prosperity awaits all of you, just keep suffering your state and local govt

The federal government's debt profile is no different. A huge chunk of the federal and state budget is being used to service debts. It would have been better if there's a commensurate increase in GDP but the increase is so neglible in our case, yet we want to borrow more

noted pls.