The Debt management office has revealed domestic debt data for the 36 states of the federation and the Federal Capital Territory.

The data shows that as of June 20, 2022, the total debt stands at N5.28 trillion, increasing from N3.96 trillion in June 2019.

This means that the states have borrowed 1.3 trillion within the three-year period under review.

The breakdown shows that Lagos, Delta and Ogun are the three States with the highest domestic debt figures in Nigeria as of June 30, 2022.

Lagos State debt grew from N479bn (N479,047,606,006.32) it was in 2019 to N797,30 billion in 2022.

This shows that Lagos state governor Babajide Olusola Sanwo-Olu has borrowed N318.25 billion in three years.

For Delta, Governor Ifeanyi Okowa’s administration has increased the domestic debt of the states to N378.87 billion.

As at 2019, the total domestic debt of the states stood at N233.56 billion.

On the other hand, Ogun is owing a total of N241.78 billion to stand among the top three most indebted States.

Top 5 states with the highest domestic debt

Lagos- N797.30bn

Ogun- N378.87bn

Delta- N241.78bn

Rivers-N225.50bn

Imo- N210.39bn

How much governors borrowed in the last three years

Lagos- N318.25bn

Ogun-N146.60bn

Delta- N145.31bn

Yobe-N69.15bn

Imo-N61.79bn

Best performing Governors on debt

Analysis of the report shows that despite increased borrowing among Governors during the period under review, six states reduced their debts

The states are FCT, Rivers, Akwa Ibom, Nassarawa, Kaduna and Kogi.

See full list of much states are owing here.