From Uche Usim, Abuja
The Nigeria Extractive Industries Transparency Initiative (NEITI), yesterday, revealed that the debt burden of the 36 states of the Federation rose to over N3.342 trillion, as at 2016.
NEITI’s spokesman, Dr. Orji Ogbonnaya Orji said Lagos, Delta, Osun and Akwa Ibom topped the debt chart with a debt profile of N1.262 trillion, representing about 38 per cent of debts owed by the 36 states.
The breakdown shows that Lagos was indebted to the tune of N603.25 billion, Delta owes N331.95 billion, Osun and Akwa Ibom are indebted to the tune of N165.91 billion and N161.23 billion respectively, as at 2016.
This information, according to Orji, was contained in the third edition of NEITI Quarterly Review, a research publication which focused on Federal Accounts Allocation Committee (FAAC) disbursements in 2016.
“The publication with facts and data from the National Bureau of Statistics, Office of the Accountant General of the Federation (FAAC) and Debt Management Office, is consistent with the mandate of NEITI on monitoring of fiscal allocation and statutory disbursement of revenues due to the three tiers of government.
“From the NEITI Quarterly Review currently in circulation, states with high debt burden include Benue indebted to the tune of N49.15 billion; Edo N94.54 billion; Enugu N57.56 billion; Ekiti; N67.3 billion and Kano; N81.05 billion.
He also explained that Katsina was indebted to the tune of N30.03 billion while Ogun owes N103.75 billion, as at 2016.