While sub-national domestic debt stock was N4.46tn, the sub-national external debt stock was N1.97tn in 2021.
The N4.46tn domestic debt represents 11.27 per cent of the country’s domestic debt stock of N23.70tn as of December 2021, up from N20.21tn in the previous year. The five states account for 34.98 per cent of the total domestic debt owed by the sub-national governments in the country as of December 31, 2021.
The debt of Lagos alone is more than that of 5 states of South Eastern Nigeria
Upon all the much propaganda about the increase in Internally Generated Revenue in followlasg, the State still owes 658.96Bn Nr. Who's is fooling who? Until that office slip from the hands of Emperor Bourdillon, that's when extent of damages done to Lagos can be ascertained.
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