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Nairaland Forum / Nairaland / General / Politics / Lagos Debt Hits N1trn As Economic Confidential Releases List (659 Views)
Economic Confidential Names Lagos, 6 Others Viable States, Declares 6 Insolvent / Jandor: Sanwo-Olu Grew Lagos Debt From N542b To N797b Without Any Development / Lagos Debt Management Office Visits The State's Blue Line Light Rail Project (2) (3) (4)
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Lagos Debt Hits N1trn As Economic Confidential Releases List by iwaeda: 2:42pm On Jun 02, 2019 |
Lagos State is number one among the highly indebted states in Nigeria in both external and domestic debts with N1.043 trillion in 2018, the latest report by the Economic Confidential has shown. While the external debt stock of Lagos amounts to N513.514 billion, the local debt stock settled at N530.243 billion. In the publication’s Annual High Indebted States (AHIS) report on 2018 External and Domestic Debts, the amount owed by Lagos represents about 20 percent of the total debts owed by the 36 states and the Federal Capital Territory (FCT) which is N5.376 trillion in 2018. Other highly indebted states for the external debt stock included Edo, Kaduna, Cross River and Bauchi with $276.25m (N99.45bn), $227.25m (N81.81bn), $188.77m (N67.95bn) and $133.93m (N48.21bn) respectively. Among the first five highly indebted states in the local debt stock, Lagos emerges tops with N530.243 billion, followed by Delta with N228.805 billion, Rivers with N225.592 billion, Akwa Ibom with N198.663 billion and Cross Rivers with N167.955 billion. The report further shows that outside Lagos, other highly indebted states for foreign debt are Rivers with N253.772 billion, Delta with N251.589 billion, Cross River with N235.914 billion and Akwa Ibom with N215.099 billion. The five states on the list of least indebted states in the external debt stock are Taraba $21.611m (N7.780bn), Borno $21.618m (N7.782bn), and Yobe $27.486m (N9.895bn). Others were Plateau and Kogi with $28.874m (N10.394bn) and $31.584m (N11.370bn), respectively. Five states account for the lowest in both domestic and external debts. Yobe state has a total of N37.667 billion, Jigawa N46.586 billion, Sokoto N52.723 billion, while Katsina and Niger states have N53.220 billion and N63.915 billion respectively. Though, the FCT as a state, its external debt profile for 2018 is $31.848 million (N11.465bn) while the domestic debt is N164.245bn bringing a total of its external and domestic debts to N175.710bn. It is generally known that most of the states’ internally generated revenue barely cover projects and most rely heavily on monthly federal allocations from the Federation Account Allocation Committee (FAAC). https://dailypost.ng/2019/06/02/lagos-debt-hits-n1trn-economic-confidential-releases-list-high-low-indebted-nigerian-states/amp/ |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by SLAP44: 2:55pm On Jun 02, 2019 |
Lagos has huge IGR that when you check well can offset the debt in 2 months. Keep your eyes on our IGR potentials and not on the debt which we took to increase our IGR. IGR figures will make our children happy and pay our rents and health bills. |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by kettykin: 2:59pm On Jun 02, 2019 |
Sanwolu might spend his first term paying debts and be voted for non performance by 2023 |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by AllenSpencer: 3:02pm On Jun 02, 2019 |
And the prices of Beer and cigarette is going higher everyday. Even Olosho's are not dropping prices So what's all this debt really used for. |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by SLAP44: 3:04pm On Jun 02, 2019 |
AllenSpencer: What's a bullion van doing in a private compound? |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by iwaeda: 3:07pm On Jun 02, 2019 |
Gbeseeee, Eko ti bajeoo |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by sarrki(m): 3:08pm On Jun 02, 2019 |
SLAP44: You spoke well partially What about ikpeazu? You need to channel more energy on him ooo |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by sarrki(m): 3:08pm On Jun 02, 2019 |
iwaeda: You lack sense of reasoning |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by SLAP44: 3:11pm On Jun 02, 2019 |
sarrki: I think we need to talk more about those who cannot pay their workers. Osun state is looking for another big loan. 1 Like |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by iwaeda: 3:12pm On Jun 02, 2019 |
sarrki:lalasticlala abusing someonebis lack if home trainning 2 Likes |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by sarrki(m): 3:14pm On Jun 02, 2019 |
iwaeda: You also show that you lack basic knowledge |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by sarrki(m): 3:16pm On Jun 02, 2019 |
SLAP44: Like I rightly said am ready to defend any government that is working either be it Pdp or Apc even apga The guy is new we will judge him soon Ikpeazu wasted 4 years nothing to show for it Yet you still vote him coz he’s Pdp |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by iwaeda: 3:16pm On Jun 02, 2019 |
sarrki:Awon omo iran kiran, abuse is their own defence |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by aolawale025: 3:23pm On Jun 02, 2019 |
Its not the debt size that counts. But the revenue. Once it can service the debts it OK |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by Nobody: 3:25pm On Jun 02, 2019 |
Bb |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by BlackfireX: 3:38pm On Jun 02, 2019 |
Watch how some will go sentimental on financial update..... A debt is dangerous |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by Binikingdowm: 3:42pm On Jun 02, 2019 |
sarrki:mumu, is he an abia man? |
Re: Lagos Debt Hits N1trn As Economic Confidential Releases List by Mynd44: 3:44pm On Jun 02, 2019 |
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