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South-West tops domestic debtors’ list with N1.04tn

The South – West has more domestic debt than other regions of the country .

Statistics obtained from the Debt Management Office on Monday showed that the geopolitical zone was exposed to a domestic debt of N 1 . 04tn as of March 31.

The statistics also showed that the six geopolitical zones of the country were exposed to a total domestic debt of N 3 . 97tn as of March 31.

This means that the South -West geopolitical zone of the country accounts for 26 . two per cent of the country’ s total subnational domestic debt .

The geopolitical zone is made up of six states – Ondo , Ogun , Oyo , Ekiti, Lagos and Osun . Lagos , the commercial capital of the country accounts for much of the indebtedness of the zone as it has domestic debt of N 542 . 23bn .

Thus, the state , which is the largest subnational economy in the country , accounts for 51. 92 per cent of the domestic debt owed by the six states in the South – West .

Osun State with N 147 . 7 bn accounts for 14 . 2 per cent of the indebtedness of the South -West region while Ekiti State with N 118 . 01bn accounts for 11. 35 per cent of the domestic debt owed by the South – West geopolitical zone .

Ogun State accounts for 9 . 34 per cent of the domestic indebtedness of the region with a total of N 97. 09bn while Oyo with N 94 . 14bn accounts for 9 . 03 per cent of the domestic debt of the region.

Ondo which has the least domestic debt in the region accounts for 5 . 48 per cent with N 56. 96bn .
The South – South region has a domestic debt burden of N 949 . 4 bn . This accounts for 23. 91 per cent of the country’ s subnational domestic debt .

Among the six states that make up the South – South region , Rivers State has the highest domestic debt. It has a domestic debt of N 225 . 59bn and therefore accounts for 23. 76 per cent of the regional domestic debt .

Delta State with N 233 . 44bn accounts for 23 . 53 per cent of the domestic debt burden of the region. Akwa Ibom with N 199 . 77bn accounts for 21. 04 per cent while Cross River with N 167 . 25bn accounts for 17. 62 per cent .

Bayelsa State with N 133 . 34bn accounts for 14. 04 per cent while Edo State, the least indebted state in the region accounts for 9 . one per cent of the domestic debt commitment of the South – South region .

The North- Central region comprising Kwara , Kogi , Nasarawa , Niger, Plateau and Benue States as well as the Federal Capital Territory has a domestic debt burden of N 648 . 63bn , accounting for 16. 34 per cent of the country’ s subnational domestic debt .
The FCT Administration has a debt of N 163 . 52 bn, accounting for 25. 21 per cent of the North-Central ’ s domestic debt . Plateau State accounts for 15 . 2 per cent of the regional domestic debt while Benue State with N 96. 91 bn accounts 14. 94 per cent .

Kogi State with N 96 . 68bn accounts for 14. 91 per cent ; Nasarawa State with N 89 . 95bn accounts for 13. 87 per cent ; Kwara State with N 59 . 58bn accounts for 9 . 19 per cent while the least burdened state , Niger, accounts for 6 . 69 per cent of the region ’ s domestic debt with N 43. 41bn .

The North- West comprising Kano , Kaduna, Katsina, Kebbi , Sokoto , Zamfara and Jigawa States has a domestic debt burden of N 485 . 39bn , accounting for 12. 23 per cent of subnational local debt.

In the region , Kano has the highest domestic debt burden of N 121 . 31 bn accounting for 24. 99 per cent of the domestic debt of the region . It is followed by Kaduna State with N 93. 2 bn , accounting for 19 . 2 per cent .

Katsina State has a domestic debt burden of N 67. 1 bn , accounting for 13. 82 per cent of the region’ s debt while Kebbi State accounts for 13. 81 per cent with a burden of N 67. 04bn .

Zamfara has a domestic debt burden of N 61. 95bn , accounting for 12. 76 per cent . Kebbi accounts for 7 . 88 per cent with a total domestic debt of N 38. 23bn .

Sokoto , on the other hand , is the least indebted in the region with a debt of N 36. 57bn , accounting for 7 . 53 per cent .

The North- East geopolitical zone comprising Adamawa , Bauchi , Borno , Gombe , Taraba and Yobe states has a debt burden of N 441 . 19bn , accounting for 11. 11 per cent of the country ’ s subnational debt .
Adamawa tops the zone with N 97. 15bn , accounting for 22. 02 per cent of the domestic debt of the region. Bauchi has N 93. 32bn , accounting for 21. 15 per cent . Borno has N 78. 26bn , accounting for 17. 74 per cent while Gombe has N 76. 89bn , accounting for 17. 43 per cent .

Taraba with N 68 . 57bn accounts for 15. 54 per cent while the least indebted , Yobe , with N 26. 99bn accounts for 6 . 12 per cent .
The South – East geopolitical zone comprising Imo , Abia , Enugu , Ebonyi and Anambra is the least indebted zone with N 305 . 67bn local debt accounting for 7 . 7 per cent of the country’ s subnational debt.
Imo tops the region with N 97. 85bn , accounting for 32. 01 per cent of the regional local debt ; Abia has N 62. 85bn , accounting for 20. 56 per cent .

Enugu has N 55. 88bn , accounting for 18. 28 per cent while Ebonyi has N 55. 6 bn , accounting for 18. 18 per cent . Anambra is the least indebted state in the region with N 33. 49bn , accounting for 10. 96 per cent .

6 bn, accounting for 18. 18 per cent . Anambra is the least indebted state in the region with N 33. 49bn , accounting for 10. 96 per cent .

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