Over the years, many state government during the military era borrowed fund from international donors to financed projects, these funds formed the subject of debate which eventually the debt was cancelled during former president Obasanjo administration who campaign and canvassed earnestly for it. As soon as these was done, a number of state governors using various developmental plans as an excuse, has borrowed again to fund real and fathom projects. A greater chunk of these funds have been traced to their bank accounts within and outside the shores of this country. Today after pains staking and diligent investigation by Ekwere007live.com crack reporters, we present to you our esteemed reader the indebtedness of your state and what is left for next generation by state governors.
Here is the presentation below on a party by party basis
PDP States.
1] Kano (PDP) owes $61.7million
2] Katsina (PDP) owes $74.6million
3] Akwa Ibom (PDP) owes $61.6 million
4] Cross River (PDP) owes $113million
5] Kebbi (PDP) owes $47.8million
6] Kogi (PDP) owes $33.8million
7] Niger (PDP) owes $29.7million
8] Kwara (PDP) owes $45.5million
9] Kaduna (PDP) owes $215.6million
10] Plateau (PDP) owes $21.9million
11] Rivers (PDP) owes $36.6million
12] Jigawa (PDP) owes $33.6million
13] Gombe (PDP)owes $31.7million
14] Enugu (PDP) owes $50million
15] Delta (PDP) owes $18.9million
APC States.
16] Lagos (APC) owes $611.2 million
17] Nassarawa (APC) owes $36.9 million
18] Ogun (APC) owes $102million
19] Osun (APC) owes $62.7million
20] Oyo (APC) owes $76.6million
21] Edo (APC) owes $42.7 million.
22] Ekiti (APC) owes $36.1million
APGA And Labour State(s)
23] Ondo (LP) owes $51.8 million
24] Imo (APGA) owes $51.9million
25] Anambra (APGA) owes $26.7million
culled
Jesus!....What are they doing with all these Monies?...Oh My God!
At least those in Oyo State can start by questioning Adedibu's Family and all those who swallowed Amala at his home everyday during his reign.
ReplyDeleteLib readers. I think am really Sick. Y on act am i so much inlove with Memphis? Oh Lord! Save me!!!
Deletecum,ada abi na dada,u sure say u nor miss road so? Abeg dis is soooo nt lib u hia!
DeleteI knew that Lagos state is owing a lot of debt,but fashola dey work now according to lagosians but I pity dem and the year they will finish paying those debt,
ReplyDeleteHow can lagos state be owing such a huge amount?
DeleteD money they generate from dis state on a daily bases, where does d money go to?
God is watching !
Tinubu n fashion don finish lagosians!
Fashola is working my ass!
With d kind of money lagos generates everyday not to talk of monthly, its not suppose to be on d debtor's list!
Things cannot continue this way, leadership is Nigerian's natural disaster. Revolution please come quick.
ReplyDeleteAh My delta has d least debt, I'm suprised
ReplyDeleteDebt is not a bad thing, so long as you are servicing your debt and you are spending judiciously. Lagos state has the most infrastructure in the country and the largest population, it's not a big deal if they are leveraged. Aliko Dangote is in huge debts, but he obviously services his debt and he is utilising his loans on huge projects. America is another example. So madame, don't insinuate that debt is a bad thing. Thank you.
ReplyDeleteWow.
DeleteHow come we think alike? Our comments are so identical!
chineke wot are dey doing with all this money?
ReplyDelete
ReplyDeleteIt is the nature of big companies, governments, etc to use borrowed funds to fund projects. You cant see a Dangote Account that is in Credit but he has billions in assets. That's why Banks struggle to give him loans. They know he has the capacity to pay. It is bad business sense to have idle money lying round. Even the US government borrows to fund projects too.
As long as your credit rating is good, you meet your obligations when they fall due and you have more assets than liabilities, no problem with borrowing.
The problem is borrowing and diverting to private accounts.
That's why I love my state. Proudly Deltan! After una go say ibori no work. Yeye dey smell.. The guy work and he no too owe igbese keep for his cuz, hehehe. Likewise his cuz dey run the package with the local budget. Hip hip hip, hurray! Lagos govt and its people ehn, very unrealistic. I sorry for lagosians gan. Plant flower my ass. Yimu!
ReplyDeleteSo none of these states is adding to govt acct in generating revenue,rather they are ALL owing?
ReplyDeleteThis country sha.smh
No hope!
Most of the debts for Lagos are domestic debts e.g goverment bonds issued over a period of sometimes up to 7 years. These debts are secured with Irrevocable Standing Order (ISPO) and are repaid by direct debits from the federal allocation accruable to the state government. Usually, the state government sets up a Debt Service Reserve Account (DSRA) which is built up periodically and matched with the maturity date for the specific debt.
ReplyDeleteIn actual fact, debt as an instrument of raising government revenue is not a bad thing provided the debt is targeted at providing infrastructure and for capital projects and not to pay salaries or other recurrent expenditure. Its on record that Lagos State is one of only 4 states in Nigeria that can conveniently service its debts and is financially viable, The others being Bayelsa, Rivers and Delta. This is on account of the IGR or taxes in layman terms that Lagos generates which the other states are oil producing.
Iam 100% sure that the debt ratio of Lagos is relatively low and can be conveniently serviced
Delta better not be dere
ReplyDeleteLagos is not doing anything, APC are thieves
ReplyDeleteKaduna (((shocked))) nd wat hav de done wt ds money??? Nothing!!! Ds debt started fr namadi sambo!!! God punish namadi sambo n pdp choiiiiiii kant burlive ds!
ReplyDeleteOf course some has syphoned d money meant for a particular project,greedy politicians.at times I begin to wonder if efcc exist cos they r not doing their work n I forgot to say na them them.
ReplyDeleteStella as regards Imo which was a PDP state before owes over $40m before Rochas took the reign. God will deliver us.
ReplyDeleteThe debts roll on....
ReplyDeletefabricated... where did u get ur info???
ReplyDeleteSo upon all BRF shakara him beloved lagos still dey owe igbese? Na wah o
ReplyDeleteSo many illiterates here. Thank God for for a few sensible comments here. I'd have been so disappointed.
ReplyDeleteAzin ehn!! So many illeterates. Debt is nt a bad thing.
DeleteVery daft commenters stella has. Mtscheew! The Lagos you are all struggling to enter and die there. How do you think the government is able to provide all the things that make Lagos, Lagos? PDP states are chopping all the money with nothing to show for it. Yet they are collecting debt. Even stella state Delta is stagnant but there is still debt. And you are all jumping up and down. buhahahaha. Who is in more of a mess? By the time an able government comes, your state will go under. Because it is not good for any debt.
ReplyDeletethe northern states are owing, and what the fuck do they do in the north? what developments? these northerners, na dem thief pass. at least fashola is working on transforming Lagos.
ReplyDeletebecause it was not attributed to GEJ ? ODE
ReplyDeleteYOUR BLIND AND CAN NOT SEE...LAGOS GOVERNMENT IS NOISE MAKING GOVERNMENT...
ReplyDeleteLET HIM SERVICE IT NOW THAN BORROWING MORE AFTER RECEIVING OVER N25BILLION ON IGR...WE ARE NOT DAFT..
ReplyDeleteSdk y av u not bin postin my comment? Dis is y pple dont lik commentn on ur posts,are u fryin akara wit my commnts or wat? Y dyu tink Linda's posts is always filled wit comments? Its cos she posts pple's comment evntho it dosnt mak sense,d only commnt she dosnt post is if u insult her or tell her d truth(if u knw her deep secret). Nah wah for u oh u beta post my comments asap cos i no abuse u,u be my padi...oya chop kiss
ReplyDeleteSdk y av u not bin postin my comment? Dis is y pple dont lik commentn on ur posts,are u fryin akara wit my commnts or wat? Y dyu tink Linda's posts is always filled wit comments? Its cos she posts pple's comment evntho it dosnt mak sense,d only commnt she dosnt post is if u insult her or tell her d truth(if u knw her deep secret). Nah wah for u oh u beta post my comments asap cos i no abuse u,u be my padi...oya chop kiss
ReplyDeleteThe figure for Rivers State is wrong. The State is indebted to various banks to the tune of N80billion. Aunty Stella, do small investigative journalism mbok!
ReplyDeleteEdo sef dey owe when everybody don go abroad finish?
ReplyDeleteMtsheeeew.