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Most Indebted States In Nigeria 2023 - Politics (3) - Nairaland

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Lagos Tops List Of Highly Indebted States With N797b. Delta, Ogun, Rivers Follow / DMO Releases List Of Indebted States And How Much They Owe / Lagos Leads Highly Indebted States With More Than N1 Trillion Debts (2) (3) (4)

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Re: Most Indebted States In Nigeria 2023 by forgiveness: 11:02am On Nov 30, 2023
Obierika:


The population of the entire Lagos was less than 1,000,000 as at that time grin

And so? Does it change the fact that it has a thriving port before the entity Nigeria was formed?
Re: Most Indebted States In Nigeria 2023 by MyVILLAGEpeople(m): 11:02am On Nov 30, 2023
IVORY2009:



State like Delta was not suppose to be in that list, despite being an oli producing state, due to high corruption, there is nothing to show for it.

Imagine to borrow and loot it again while the citizens of the state are the mercy of these debts. Okowa borrowed billions on Atiku failed presidential aspiration.
Re: Most Indebted States In Nigeria 2023 by ufotunang: 11:05am On Nov 30, 2023
tongue
Depriest2020:
Mostly southern Nigeria with nothing much to show for it.
..and upon a the huge federal allocation, 13% funds, security votes, Niger Delta development commission ...but not much development in the south south states

1 Like

Re: Most Indebted States In Nigeria 2023 by Slurity(m): 11:07am On Nov 30, 2023
victorclean:
Agbadorians will soon attack the author
Why will they attack the author, you may need to know that US has more debt that Nigeria, the problem is not how mush you are owning but what can be seen that you have used the debt for.

Over the past 100 years, the U.S. federal debt has increased from $404 B in 1923 to $33.17 T in 2023. Comparing a country's debt to its gross domestic product (GDP) reveals the country's ability to pay down its debt.

Understanding the National Debt | U.S. Treasury Fiscal Data

Treasury Department (.gov)
https://fiscaldata.treasury.gov › americas-finance-guide.

Nigeria debt is is less that 44Billion dollars. compare to 33.17 trillion dollars of US.
Re: Most Indebted States In Nigeria 2023 by treatise: 11:07am On Nov 30, 2023
horsepower102:
🇳🇬MOST INDEBTED STATES - JUN 2023



Source: Statisense via (DMO)
Why would Rivers State be oweing?
Re: Most Indebted States In Nigeria 2023 by Sunisonflex39(m): 11:09am On Nov 30, 2023
Abeg any field work for ND holder that I can do?

Hunger one kill me
I based in Port Harcourt..

I need job..not to be dashed money.. please help
Re: Most Indebted States In Nigeria 2023 by Jetland(m): 11:14am On Nov 30, 2023
horsepower102:
🇳🇬MOST INDEBTED STATES - JUN 2023



Source: Statisense via (DMO)
Re: Most Indebted States In Nigeria 2023 by AzaHub(f): 11:14am On Nov 30, 2023
Mind sharing what make up those debts?

Re: Most Indebted States In Nigeria 2023 by hotseat: 11:15am On Nov 30, 2023
These most indebted States earn more from FAAC and IGR, yet wallowing in suffocating debt burden.



Know why?



It's a clear pointer to the fact of the unparalleled thievery and unbridled wastefulness taking place in those States.



One would have expected an insecurity-ravaged State like Borno to top the list.


But no!



With the prudent use of limited resources, Gov. Prof. Babagana Umara Zulum has been able to carve a niche for himself in the comity of States.



He's a true Servant-Governor serving the good people of Borno with the fear of God and true love for his people.

1 Like

Re: Most Indebted States In Nigeria 2023 by IamAtikulate: 11:16am On Nov 30, 2023
horsepower102:
🇳🇬MOST INDEBTED STATES - JUN 2023



Source: Statisense via (DMO)
Please get the regional distribution of these debts and calculate their share of the national aggregate (percentage).

The last time I saw the data, SE was lowest at 7%.

Yorubas are celebrating IGR while they are drowning in debts.

It doesn't make sense

1 Like

Re: Most Indebted States In Nigeria 2023 by Jetland(m): 11:18am On Nov 30, 2023
kennyz247, hope you can find Kogi State here.

1 🟣Lagos: ₦1.97 trillion
2 🔴Kaduna: ₦525.9 billion
3 🟤Delta: ₦511.3 billion
4 🟣Ogun: ₦379.2 billion
5 🟤Edo: ₦325.1 billion
6 🟤Cross river: ₦322.0 billion
7 🟤Rivers: ₦290.2 billion
8 🟢Imo: ₦280.8 billion
9 ⚫Bauchi: ₦278.7 billion
10 🟤Akwa Ibom: ₦233.1 billion
Re: Most Indebted States In Nigeria 2023 by IamAtikulate: 11:19am On Nov 30, 2023
Slurity:
Why will they attack the author, you may need to know that US has more debt that Nigeria, the problem is not how mush you are owning but what can be seen that you have used the debt for.

Over the past 100 years, the U.S. federal debt has increased from $404 B in 1923 to $33.17 T in 2023. Comparing a country's debt to its gross domestic product (GDP) reveals the country's ability to pay down its debt.

Understanding the National Debt | U.S. Treasury Fiscal Data

Treasury Department (.gov)
https://fiscaldata.treasury.gov › americas-finance-guide.

Nigeria debt is is less that 44Billion dollars. compare to 33.17 trillion dollars of US.
USA debt is held publicly and intergovernmental holding. Nigeria debt is external.

U.S.A debt is like you owing yourself, while Nigeria is like a person owing another person

2 Likes

Re: Most Indebted States In Nigeria 2023 by fx45(m): 11:21am On Nov 30, 2023
horsepower102:
🇳🇬MOST INDEBTED STATES - JUN 2023



Source: Statisense via (DMO)
Evenly distributed...

1. Southwest
2. North East
3. North West
4. North Central
5. South East
6. South South
Re: Most Indebted States In Nigeria 2023 by gare(f): 11:21am On Nov 30, 2023
horsepower102:
🇳🇬MOST INDEBTED STATES - JUN 2023



Source: Statisense via (DMO)

What exactly did Delta use all that money for, look at Rivers states with all it's projects is actually half of what Delta state is owing.

I believe part of the money was used to sponsor Atiku 😂

1 Like

Re: Most Indebted States In Nigeria 2023 by Akoasi: 11:23am On Nov 30, 2023
Depriest2020:
Mostly southern Nigeria with nothing much to show for it.
are you blind. Lagos owe times 10 of some staffs. Lagos owe trillions and still look like that. A former FCT for that mata

1 Like

Re: Most Indebted States In Nigeria 2023 by John4B: 11:40am On Nov 30, 2023
Ss with the huge allocation they receive as oil rich states yet they are in debt
Re: Most Indebted States In Nigeria 2023 by Adext4sure(m): 11:44am On Nov 30, 2023
Hunmm.
Kogi State must think Dangote Group can do it all alone without FG fixing Ajaokuta Refineries.


Stop playing 🎴
Re: Most Indebted States In Nigeria 2023 by Nobody: 11:44am On Nov 30, 2023
Depriest2020:
Mostly southern Nigeria with nothing much to show for it.

When you add the debt owned by the aforementioned region . It is still not up to that of Lagos. Ethnic bigot...
Re: Most Indebted States In Nigeria 2023 by firearcher: 11:48am On Nov 30, 2023
A missing context is what the debts are used for - consumption or productive ventures? US, Japan, China, France and Italy are the top 5 countries with the highest national debts in absolute term.

But compared to their debt-to-GDP ratio, only Japan will be on that list, joined by Sudan, Greece and Eritrea.
Re: Most Indebted States In Nigeria 2023 by Successlane: 11:53am On Nov 30, 2023
MMM
Re: Most Indebted States In Nigeria 2023 by Rating(m): 12:00pm On Nov 30, 2023
Debt is not supposed to be a problem but with the Nigerian (political) culture, debt is a burden. And it affects how we are able to command attention in the global community as there is nothing significant to show for the debt. This country needs some hard reset.
Re: Most Indebted States In Nigeria 2023 by soccerlite: 12:04pm On Nov 30, 2023
horsepower102:
Some states on the list have both high IGR and high federal allocations yet they are drowning in debt


are they are acquiring debts so that they won't spend what they have in stock

Since life never end

Unexplainable
Re: Most Indebted States In Nigeria 2023 by IGBOSON1: 12:07pm On Nov 30, 2023
MEEVEET:

Yes that is why Akwa Ibom borrow against that money and send the debtors to FG

That state is the best state in Nigeria in terms of financial state

They just haven't had smart leaders who would build a their human capital development

Building roads won't do it, building factories won't do it either


Hehehehehe grin grin grin
Re: Most Indebted States In Nigeria 2023 by IGBOSON1: 12:09pm On Nov 30, 2023
Even without looking, i knew Imo state will represent the south-east on the list! What's happened and continues to happen in the politics and governance of Imo state is nothing short of TRAGIC!

1 Like

Re: Most Indebted States In Nigeria 2023 by soccerlite: 12:09pm On Nov 30, 2023
gare:


What exactly did Delta use all that money for, look at Rivers states with all it's projects is actually half of what Delta state is owing.

I believe part of the money was used to sponsor Atiku 😂

Which part is that

How much
Re: Most Indebted States In Nigeria 2023 by nony43(m): 12:15pm On Nov 30, 2023
MEEVEET:

Ibom port won't work for same reason lekki sea port won't work

Until the law is change to allow everyone import anything from any port

That's the Koko

Soludo wanted to build pharmaceutical industrial layout in Anambra as minimum 60% of local pharmaceutical companies are owned by igbos

They told him the truth... Pharmaceutical and chemicals can only be imported through apapa not even tincan

That's why they are all in Lagos and Ogun

Such laws are the main reasons investors are holding back









Is this true?
Re: Most Indebted States In Nigeria 2023 by Caseless: 12:18pm On Nov 30, 2023
Shey Wike talk say they paid what's left of their debt to access and zenith bank in October? Why's Rivers still on the list?

Bauchi and Kaduna on the list and I can't see Kano...ummm


I heard Ganduje left some huge debt behind.
Re: Most Indebted States In Nigeria 2023 by Caseless: 12:20pm On Nov 30, 2023
MEEVEET:

Ibom port won't work for same reason lekki sea port won't work

Until the law is change to allow everyone import anything from any port

That's the Koko

Soludo wanted to build pharmaceutical industrial layout in Anambra as minimum 60% of local pharmaceutical companies are owned by igbos

They told him the truth... Pharmaceutical and chemicals can only be imported through apapa not even tincan


That's why they are all in Lagos and Ogun

Such laws are the main reasons investors are holding back
Where did you see this?
Re: Most Indebted States In Nigeria 2023 by GetMeRight: 12:24pm On Nov 30, 2023
Racoon:
Delta state ought not to be on that list. Same with Akwa Ibom. So much allocation but poor IGR hence economically unviable.

Meanwhile Lagos as usual remains a paradox. Generating so much but with grossly less to show for it. This is why GDP: debt ratio is a more reliable index of economic development than IGR.
GDP, IGR, Economic growth, Economic development, etc, all have different roles. You can't determine GDP without first determining your Revenue
Re: Most Indebted States In Nigeria 2023 by Whatisurproblem(m): 12:47pm On Nov 30, 2023
Racoon:
Delta state ought not to be on that list. Same with Akwa Ibom. So much allocation but poor IGR hence economically unviable.

Meanwhile Lagos as usual remains a paradox. Generating so much but with grossly less to show for it. This is why GDP: debt ratio is a more reliable index of economic development than IGR.
when Tinubu is collecting 70% of Lagos money.
Re: Most Indebted States In Nigeria 2023 by Slurity(m): 12:52pm On Nov 30, 2023
IamAtikulate:

USA debt is held publicly and intergovernmental holding. Nigeria debt is external.

U.S.A debt is like you owing yourself, while Nigeria is like a person owing another person
Yes, you are correct but that does not remove the fact that those money where borrowed and owned, in fact another thing you forgot to mention is that the currency that you are borrowing matters, US has advantage because they are owning in their own currency, which means they can as well print the currency if they have to pay back unlike Nigeria. The initial fact I want to buttress is that, The fact that the the value That figure of high or low debt profile is not the koko but the performance of the loan.
Re: Most Indebted States In Nigeria 2023 by Omoawoke(m): 12:59pm On Nov 30, 2023
Bestmanfornow:

The dodomayanas from Southwest hate to see this list, grin very dumbo brains next is to mention US and China, they always trying to use IGR to cover shame, while their leaders borrow to pay salary, I don't know when these guys go get sense, every year same stupidity grin grin

They enjoy borrowing, I pity Nigerians, by the time they are through Nigeria will be most indebted country in the world with nothing to show for


horsepower102:
Some states on the list have both high IGR and high federal allocations yet they are drowning in debt

We understand that most of you no go school. That’s why they say education no be scam.

You guys expose your spare parts economic sense daily, what a shame!
I won’t educate you on how illiterate you sound with your knowledge of debt, I prefer you drown in ignorance

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