
10 states borrow N417bn despite higher allocations
At least 10 Nigerian states collectively increased their domestic debt by N417.7bn year-on-year, despite a significant rise in revenue allocations from the Federation Account Allocation Committee, a review of official data has shown. An analysis of the Debt Management Office’s quarterly reports on subnational debt reveals that Rivers, Enugu, Niger, Taraba, Bauchi, Benue, Gombe, Edo,…