Lagos, Kaduna, C’River, Ogun, Oyo Top Foreign Debtors’ List
Lagos, Kaduna, Cross River, Ogun and Oyo occupied the top position on the list of external debts incurred by state governments as of June 30, 2012.
According to states and Federal Government’s external debt stock obtained by SATURDAY PUNCH from the Debt Management Office, Borno, Delta, Plateau, Taraba and Anambra states had the lowest external debts.
Lagos topped the list of external debtors with $517,677,672 as of June 30, 2012.
The foreign debt increased by 5.25 per cent from $491,847.295 in December, 2011.
However, while other four states depend on federal allocations, Lagos generates a huge internal revenue, which was about N23bn monthly in the first quarter of the year.
Next to Lagos is Kaduna with $197,155.525 foreign debt as against $182,261,250 in December 2011.
Cross River has $109,351,503 external debt. As of December, the state’s external debt was $107,532,721.
Ogun State is the fourth most indebted state with $96,285.547 as of June 30, 2012. Its external debt increased by 1.8 per cent from $94,575,129.
Oyo’s external debt (the fifth) was $78,878,401 as of June 30, 2012, as against $78,085,379 in December 2011.
Culled from PUNCH
According to states and Federal Government’s external debt stock obtained by SATURDAY PUNCH from the Debt Management Office, Borno, Delta, Plateau, Taraba and Anambra states had the lowest external debts.
Lagos topped the list of external debtors with $517,677,672 as of June 30, 2012.
The foreign debt increased by 5.25 per cent from $491,847.295 in December, 2011.
However, while other four states depend on federal allocations, Lagos generates a huge internal revenue, which was about N23bn monthly in the first quarter of the year.
Next to Lagos is Kaduna with $197,155.525 foreign debt as against $182,261,250 in December 2011.
Cross River has $109,351,503 external debt. As of December, the state’s external debt was $107,532,721.
Ogun State is the fourth most indebted state with $96,285.547 as of June 30, 2012. Its external debt increased by 1.8 per cent from $94,575,129.
Oyo’s external debt (the fifth) was $78,878,401 as of June 30, 2012, as against $78,085,379 in December 2011.
Culled from PUNCH
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