Debt Profile Of The 36 States Of The Federation As Released By Debt Management Office.( D.M.O).

According to the Debt Management Office (DMO), the 36 states of the Federation and the Federal Capital Territory (FCT) owed about $2.22billion (N333.05billion) in external debts as at June, 2011, almost half of national debt building up so soon after the much celebrated debt exit of 2003.

The debt stock is party-blind. Indeed it is a kind of bi-partisan indebtedness. Lagos leads with external debt of $460.742million, representing 8.54 percent of the nation's external debt; Kaduna State owes $175.433million, representing 3.25 percent, Cross River, owes $124.022million, representing 2.30percent of the nation's external debt, and third leading debtor state.


The debt profile of some other states are as follows;
Abia State, $34.048million,
Adamawa State; $29.45million,
Akwa Ibom ($70.56million);
Anambra ($23.722million);
Bauchi ($58.8million);
Bayelsa ($28.77million);
Benue ($25.016million);
Borno ($14.036million);
Delta ($17.63million);
Ebonyi ($42.149million);
Edo ($46.92million);
Ekiti ($36.201million);
Enugu ($41.66million);
Gombe ($27.96million);
Imo ($52.32million).

In the period under review,
Jigawa State's external debt was $29.120million;
Kano ($63.94million);
Katsina ($78.75million);
Kebbi ($51.644million);
Kogi ($36.203million);
Kwara ($48.557million);
Nassarawa ($41.35million);
Niger ($27.438million);
Ogun ($91.902million);
Ondo ($60.794million);
Osun ($65.332million);
Oyo ($93.990million);
Plateau ($26.974million);
Rivers ($36.501million);
Sokoto ($41.206million);
Taraba ($21.111million);
Yobe ($31.690million);
Zamfara ($27.186million) and
FCT ($37.664million).

DMO added that; "These figures exclude arrears that only become obvious by the end of the year". Again if we weigh the debt burden of the states with their monthly Federal allocations, your guess is as good as mine as to if the states are bankrupt or not.