Analysis of the Debt Profile of Nigerian States
Analysis into the domestic debt profile of the 36 states and FCT shows that Lagos state with total debt of N444.23 billion has the highest domestic debt stock outstanding among the states and this represents 10.82% of the total domestic debt stock. Lagos, Abuja and Port Harcourt in combined have total debt worth 19.92% of the total domestic debt stock of the 36 states and the FCT. Of the top 10 states based on debt, only Lagos, Ogun, Rivers, Akwa-Ibom and Delta states are among the top 10 states based on 2019 Internally IGR.