The Lagos State Government has borrowed over N126 billion
domestically in the last quarter of 2021, the Debt
Management Office (DMO) has said.
According to a report released by the DMO, Lagos, whose
domestic debt stood at N532.12 billion as of September 30,
2021, is now owing N658.95 billion as at the end of
This represents an increase of N126.83 billion in the last
three months of the year 2021, according to the DMO.
Oniftv observed that Lagos is the State with the highest
domestic debt figure as of the time under review.
Ogun State comes second with a total of N232.62 billion debt
as of December.
Ogun’s debt profile rose from N192.41 billion to N232.62
within three months, making a debt increase of N40 billion.
Rivers State is the third with N225.50 billion, even as the
State’s domestic debt reduced by about N850million.
At the moment, Akwa Ibom State’s debt stands at N214.60
billion, from N234.85 billion in September.
In Imo State, the domestic debt soared from N151.31 to
N205.18; being an increase of N53.87 from October to
While Cross River owes N159.81 billion, Bayelsa, Delta and
Plateau are owing N154.613bn, N154.61 billion and N150.49
Oyo’s debt profile is now N142.56, as Osun struggles with
Aside from Benue with N128.34 and Kano with N111.89,
other States and the FCT have domestic debts lower than
With N31.35 billion, Jigawa is the State with the lowest
domestic debt, followed by Ebonyi with N42.16 billion.
The DMO disclosed that the total debt profile for the 36
States and the FCT is now N4.45 trillion, as against N4.19
trillion in September last year.