Domestic debt: Lagos borrows over N126bn in three months, DMO releases other States’ figures



The Lagos State Government has borrowed over N126 billion domestically in the last quarter of 2021, the Debt Management Office (DMO) has said.


According to a report released by the DMO, Lagos, whose domestic debt stood at N532.12 billion as of September 30, 2021, is now owing N658.95 billion as at the end of December, 2021.

This represents an increase of N126.83 billion in the last three months of the year 2021, according to the DMO.

DAILY POST observed that Lagos is the State with the highest domestic debt figure as of the time under review.

Ogun State comes second with a total of N232.62 billion debt as of December.


Ogun’s debt profile rose from N192.41 billion to N232.62 within three months, making a debt increase of N40 billion.

Rivers State is the third with N225.50 billion, even as the State’s domestic debt reduced by about N850million.

At the moment, Akwa Ibom State’s debt stands at N214.60 billion, from N234.85 billion in September.

In Imo State, the domestic debt soared from N151.31 to N205.18; being an increase of N53.87 from October to December, 2021.

While Cross River owes N159.81 billion, Bayelsa, Delta and Plateau are owing N154.613bn, N154.61 billion and N150.49 billion respectively.


Oyo’s debt profile is now N142.56, as Osun struggles with N134.70 billion.

Aside from Benue with N128.34 and Kano with N111.89, other States and the FCT have domestic debts lower than N100billion.

With N31.35 billion, Jigawa is the State with the lowest domestic debt, followed by Ebonyi with N42.16 billion.

The DMO disclosed that the total debt profile for the 36 States and the FCT is now N4.45 trillion, as against N4.19 trillion in September last year.

https://dailypost.ng/2022/03/21/domestic-debt-lagos-borrows-over-n126bn-in-three-months-dmo-releases-other-states-figures/

Na the money Tinubu dey share so


Kanu, Jay Jay, Taribo West and co don collect their share yesterday.

NASS members collected their own share last week.

The Obas collected two weeks ago.


Sharing continues
Aloota continua

But i don't get why Lagos is borrowing. The state is rich, and can afford to have zero debt if they wish to. It's the only state that generates over a billion naira daily.

Zonefree:
Na the money Tinubu dey share so

His brainwashed supporters claim he has made Lagos so sophisticated and economically at par with New York. Same people who won't recommend their parents or themselves for leadership, are slaving under another man to lead them forever regardless of his flaws.

Upworkwriter007:
But i don't get why Lagos is borrowing. The state is rich, and can afford to have zero debt if they wish to. It's the only state that generates over a billion naira daily.

The only reason Lagos is borrowing is Tinubu.

Lagos is his footstool. He hypnotized Lagosians.

Upworkwriter007:
But i don't get why Lagos is borrowing. The state is rich, and can afford to have zero debt if they wish to. It's the only state that generates over a billion naira daily.

Wetin Tinubu go come thief?.

[s]

Upworkwriter007:
But i don't get why Lagos is borrowing. The state is rich, and can afford to have zero debt if they wish to. It's the only state that generates over a billion naira daily.

[/s]
From the table, the 5 Eastern states are owing over 1 trillion naira, what did they do with it?

LeoDeKing:
[s][/s]
From the table, the 5 Eastern states are owing over 1 trillion naira, what did they do with it?

Looted funds by the governors what do you expect ..you think Aside from Lagos , Amanra and Ebonyi any other state in Nigeria has reasonable leaders ?