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Nairaland Forum / Nairaland / General / Politics / Debt Burden: South East Scores Another Plus (522 Views)
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Debt Burden: South East Scores Another Plus by OFFICIAL336: 8:38am On Nov 03, 2017 |
The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the debt burden of the 36 states of the federation rose to over N3.342 trillion as of 2016. Lagos, Delta, Osun and Akwa Ibom topped the debt chart, with a total debt profile of N1.262 trillion representing about 38% of debts owed by the 36 states of the federation. The break down shows that Lagos was indebted to the tune of N603.25 billion, Delta, N331.95 billion, while Osun and Akwa Ibom are owing N165.91 billion and N161.23 billion respectively. The South Eastern states of the country owes a combine debt of #257.74 bn. This represents about 7 percent of the total debts of the entire 36 states, which stands shamefully at #3.3 bn. The Highest indebted state of the region is APC controlled Imo, which stands at #88 bn while APGA contolled Anambra State has the least debt at #20.6 bn. PDP controlled States of Enugu (#57.56 bn), Ebonyi (#46.05 bn) and Abia (#44.93 bn) have an average debt of #49.51 bn. The NEITI publication also expressed concern that the total indebtedness of N3.342 trillion by the 36 states represented 55.15 percent of the 2016 budget of N6.06 trillion and 45.8 per cent of the 2017 budget estimates of about N7.3 trillion. With a patry 7% of the entire debts, which appears sustainable in the long run, South East scored another Plus. https://www.thecable.ng/neiti-lagos-delta-osun-lead-as-36-states-debt-burden-rise-to-n3-3trn |
Re: Debt Burden: South East Scores Another Plus by Ngokafor(f): 8:41am On Nov 03, 2017 |
The usual debtors tops the list...after all the purported IGR that trounces that of the entire World put together ..What use is the so-called 'humongous IGR if borrowing is the normal revenue generation apparantly? .Borrow borrow culture at play here...Borrow to throw parties,borrow jewelries,clothes and shoes to show off at such parties and pretty much every thing else ..Borrow borrow borrow just to be what they are not..At the end of the day,the debts amassed cancelles out the wealth purportedly generated in real terms..shame. 1 Like 1 Share |
Re: Debt Burden: South East Scores Another Plus by Tolexander: 8:44am On Nov 03, 2017 |
The break down shows that Lagos was indebtedThe He-goat don mortgage the future of the state, with little to show apart from some work projects with large kick backs. |
Re: Debt Burden: South East Scores Another Plus by igbozionism(m): 8:46am On Nov 03, 2017 |
Mr fake igr. make them keep manipulating igr figures to feel good but reality will continue to expose them 2 Likes |
Re: Debt Burden: South East Scores Another Plus by BiafraIShere(m): 8:50am On Nov 03, 2017 |
Good development, by the time the appology of a country is inevitably divided, every region will pay its own debt respectively. I just dey laugh Aregbe and how he sold Osun state. Imagine a very poor state to be owing such humongous debt? It will surely take generations to pay off that debt! 1 Like |
Re: Debt Burden: South East Scores Another Plus by GavelSlam: 9:04am On Nov 03, 2017 |
Tolexander:Owing 350 million dollars and that is the mortgage? |
Re: Debt Burden: South East Scores Another Plus by legendte(m): 9:04am On Nov 03, 2017 |
Rochas |
Re: Debt Burden: South East Scores Another Plus by Tolexander: 9:10am On Nov 03, 2017 |
GavelSlam:Can't really understand your question bro. Can you please rephrase it? |
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