Rivers State's domestic debt is 3.5% (₦12.4b) more than the combined debt of Delta and Cross River

Key Takeaways

Bayelsa holds the lowest debt with ₦65.9 billion.
Rivers’ ₦364.4 billion domestic debt is almost six times Bayelsa’s total, highlighting major fiscal disparities.
Delta (₦204.7 billion) and Cross River (₦147.3 billion) remain among the region’s more indebted states
Regional debt approaches ₦1 trillion: The six South-South states collectively hold an estimated ₦968 billion in domestic debt as of Q2 2025.

In Q2 2025, South-South Nigeria’s debt landscape reveals a sharp divide between high and low borrowers. Bayelsa, with ₦65.9 billion, remains the least indebted state, underscoring its relatively smaller borrowing profile compared to Rivers State, which tops the region with ₦364.4 billion. While Delta and Cross River also carry substantial obligations, Bayelsa’s restrained debt levels may reflect conservative fiscal management or limited borrowing capacity. The region’s combined ₦968 billion domestic debt highlights its significant role in Nigeria’s overall subnational debt picture.

Source:

Debt Management Office

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Period:

Q2 2025

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