Jigawa has the lowest domestic debt among Nigerian states at ₦1.06B, a stark contrast to Lagos's (the highest) ₦874.04B debt

  • Lagos alone holds more domestic debt than the bottom 25 states combined.
  • Jigawa’s domestic debt of ₦1.06 billion is less than 0.15% of Lagos’s debt, showing the widest disparity.
  • The 10 highest-indebted states account for nearly 70% of the total domestic debts across Nigerian states.
  • The Federal Capital Territory (FCT) carries more debt than 17 other states.

Lagos State stands out distinctly in Nigeria’s domestic debt landscape, with an overwhelming ₦874.04 billion debt, over twice that of the next highest state, Rivers, at ₦364.39 billion.

This gap highlights the scale of financial commitments that Lagos has taken on, likely to finance infrastructure and meet its urban development needs.

Combined, Lagos and Rivers alone account for nearly a third of all domestic debts owed by Nigeria’s 36 states and the FCT, indicating a highly concentrated debt profile among a few subnational entities.

Source:

Debt Management Office

Period:

2024
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