The domestic debts owed by state governments and the Federal Capital Territory Administration rose to six point four three trillion naira at the end of 2021.
Sub-national domestic debt stock was four point four six trillion naira while the sub-national external debt stock was one point nine seven trillion naira in 2021.
Lagos, Ogun and Rivers became the three most indebted states according to the latest data from the Debt Management Office.
Lagos, Ogun, Rivers, Akwa Ibom, and Imo emerged as the top five debtors, with a combined domestic debt stock of about one point five six trillion naira.
The five states account for thirty-four point nine eight per cent of the total domestic debt owed by the sub-national governments in the country as of December 31, 2021.