See What Nigerian States Owed Domestically In 2015

Nigerian-naira-to-dollar

Here are details on the Domestic Debt Stock by all Nigerian state as at December 2015 and the sad reality is, most of them have nothing to show for it.

First of all, Domestic or Internal debt is the amount of money raised by the Government, in local currency and from its own residents. Generally, domestic debt consists of two categories, which are Bank and Non-Bank borrowing.

Put differently,it is also defined as debt denominated in local currency. The management of domestic debt in Nigeria has hitherto been conducted by the Central Bank of Nigeria (CBN) through the issuance of government debt instruments, which consisted of:

• Nigerian Treasury Bills
• Nigerian Treasury Certificates
• Federal Government Development Stocks
• Treasury Bonds
• Ways and Means Advances.

Now to what the states owe;

Abia – N33.5bn
Adamawa – N47.2bn
Akwa Ibom – N147.6bn
Anambra – N3.6bn
Bauchi – N57.6bn
Bayelsa – N103.3bn
Benue – N39.9bn
Borno – N22.3bn
Cross River – N115.5bn
Delta – N320.6bn
Ebonyi – N34.1bn
Edo – N46.2bn
Ekiti – N52.5bn
Enugu – N37.55bn
Gombe – N53.4bn
Imo – N71.7bn
Jigawa – N22.1bn
Kaduna – N49.8bn
Kano – N65bn
Katsina – N11.49bn
Kebbi – N63.7bn
Kogi – N42bn
Kwara – N31.9bn
Lagos – N218.5bn
Nasarawa – N40.5bn
Niger – N21.5bn
Ogun – N75.9bn
Ondo – N26.6bn
Osun – N144.6bn
oyo – N47.4bn
Plateau – N96.2bn
Rivers – N134.9bn
Sokoto – N11.6bn
Taraba – N27.6bn
Yobe – N3.8bn
Zamfara – N46.2bn

Domestic debt stock increased by N848.08bn from N1.655tn in 2014 to N2.503tn in 2015.

Highest Jump in Domestic Debt stock (2014 to 2015)
Delta – N108.6bn increase
Osun – N106.8bn increase
Akwa Ibom – N65.81bn

Reduction in domestic debt stock 2015
Lagos – N49.5bn reduction from 2014
Niger – N1.9bn reduction from 2014

Only Lagos and Niger states had reductions in total domestic debt stock in 2015

SCARY NUMBERS

Katsina state had 1,859% increase in domestic debt stock

2014 – N586m
2015 – N11.4bn

Jigawa state had a 1314% increase in domestic debt stock

2014 – N1.5bn
2015 – N22.1bn

Ebonyi state had a 391% increase in domestic debt stock

2014 – N6.9bn
2015 – N34.1bn

Nigeria’s Public Debt stock

Ext Debt stock (FG+states) – N2.11tn
Domestic (FG) – N8.83tn
Domestic (States) – N2.5tn

Total – N13.45tn

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