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Subnational debt: 11 states, FCT borrow N373.06 billion in nine months

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Subnational debt: 11 states, FCT borrow N373.06 billion in nine months

24 Feb, 2026

 

Eleven states and the Federal Capital Territory (FCT) increased their domestic debt stock by a combined N373.06 billion between December 2024 and September 2025, according to an analysis by Nairametrics. Data from the Debt Management Office (DMO) show that total domestic debt for the 36 states and the FCT rose from N3.97 trillion as of December 31, 2024, to N4.00 trillion as of September 30, 2025. The increase of N34.84 billion represents a modest 0.88% growth at the aggregate level........................... READ MORE