Ogun Domestic Debt Hits N153bn, With N58bn Borrowed In 18 Months

The domestic debt profile of Ogun State has been put at n153.49 billion

Out of the N153.49 billion domestic debt, the Abiodun Admnistration borrowed N58 billion within 18 months

The debt profile was contained in separate reports by the debt management office and the National Bureau of Statistics (NBS)

The NBS in its report reveals the debt profile of each of the 36 states in the report

According to the report, Ogun State has the third highest debt burden in the south west region

The most indebted state in the region is Lagos, whose total debt is N508.7 billion, which accounts for 12.15 per cent of total debts incurred by the 36 states

Trailing Lagos is Ondo state with N146 billion and Osun state with N132.1 billion, as well as Oyo state which has a debt profile of N94.5 billion

But in its report, debt management office says that Ogun State government borrowed N58 billion in 18 months

According to the report, Ogun State was owing N95.14 billion as at June 30, 2019, a month after the Amosun administration left office

But between June 30, 2019 and December 30, 2020, debt management office says that Ogun State government borrowed N58.3 billion, raising the state’s total domestic debt to N153.4 billion as at December 2020

YOU CAN ALSO READ: Ogun Owes N90bn, $102m To Local And External Debts-Amosun


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