NIGERIA'S DEBT STOCK PROFILE:SMALLEST STATE HAS LARGEST DEBT

Nigeria's Debt Profile: Smallest State Has Largest Debt

The debt stock data released by the National Bureau of Statistics (NBS) revealed that the smallest state in Nigeria- Lagos, with a landmass of 3,345km, has the largest debt burden among all states. The state’s debt stock is 35.61% of the country's foreign borrowings. Kaduna (5.79%), Edo (5.64%), Cross River 4.08% and Enugu 3.23%, are all clustered behind Lagos. 
by SAHARAREPORTERS, NEW YORK Mar 27, 2018
The debt stock data released by the National Bureau of Statistics (NBS) revealed that the smallest state in Nigeria- Lagos, with a landmass of 3,345km, has the largest debt burden among all states.
The state’s debt stock is 35.61% of the country's foreign borrowings. Kaduna (5.79%), Edo (5.64%), Cross River 4.08% and Enugu 3.23%, are all clustered behind Lagos.
The spread of domestic debts is more even; Lagos takes up only 10.85% of the stock in this category. Sokoto state borrows quite little locally; it owes just 0.78% of aggregate borrowing within Nigeria.
However, the federal government owes 78.23% of the country’s entire debt stock as at 31st December 2017, while the states owe just 21.77%. Nigeria’s foreign debt profile stands at $18.9 billion and its local borrowings amounted to N3.35 trillion

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