Lagos is the most indebted state, NBS report shows
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Lagos is the most indebted state, NBS report shows

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The latest report of the National Bureau of Statistics, NBS, has shown that Lagos State is the highest in the list of states with external debts for the months of June and July.

According to the report, the total external indebtedness of Lagos State stands at N377, 218,633.57 in June, out of a total of N1, 687,226,870.81 external debts owed by the 36 states in June.

The NBS report also showed that the total sum of N156, 240,031,414.57 was shared for the 36 states of the federation from Federation Account Allocation Committee for the month of May and June, 2016.

It similarly showed that the 774 local government areas in the country also shared N57,228,855,281.52 and N99,011,176,133.05 from the Federation Account for June and July respectively.

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Kano State, which has the largest number of LGAs, got the highest allocation for the two months while Bayelsa State, with the least number of LGAs in the country got the least for the two months.

Kastina and Oyo states followed Kano in the list of the states with the highest allocations for the LGAs while Gombe and Ebonyi followed Bayelsa fromm the rear.

Also the 9 oil producing states got as derivation fund, the sum of N16,737,534,925.61 for June and N15,834,173,467.20 for July.

Akwa Ibom however got the highest for those months, receiving N5,707,719,568.95 and N5,147,046,274.87 respectively for June and July.

Rivers State followed Akwa Ibom, receiving N3,794,656,431.68 and N3,599,566,911.82 for both months respectively while Edo state came a distant last with N96,653,425.30 for June and N135,627,219.07 for July.

By Timothy Enietan-Matthews…

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