Osun , Two Others Top States With External Debt Reduction In 18 Months

Osun State has reportedly listed among top three states in Nigeria with external debt reduction within eighteen months.

This was revealed in a recent data released by the Debt Management Office (DMO) on the details of external debts owed by the 36 states including the FCT.

The details showned how the sub-nationals increased and decreased their external debts between June 2023 and December 2024.

Despite the much talked about increase in federal allocation to the states of the federation, a total of 20 states have increased their external debts in the period under review, while 16 states and the FCT have reduced their external debts within the same period.

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Edo, Rivers, Ogun, Kaduna, and Katsina state are among the list of states with increased external debts while Zamfara, Plateau, Nasarawa, Niger and Kwara states recorded the least increment. Other states with increased external debts include; Cross River, Ebonyi, Ekiti, Borno, Kano, Bauchi, Sokoto, Kebbi, Abia, and Taraba.

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Meanwhile, Lagos ($94M), Enugu ($33.6), and Osun State ($14.6M) lead as 16 states, and the FCT reduced their external debt figure between June 2023 and December 2024. Other states are Oyo, Akwa Ibom, Ondo, FCT, Benue, Gombe, Bayelsa, Adamawa, Jigawa, and Delta, while Yobe, Kogi and Anambra states recorded the least increment figure