Amid ongoing fiscal tightening, Nigeria’s states are piling up more debt on their citizens. Fresh data from BudgIT’s latest ‘State of States’ report shows that average debt per capita rose slightly from N40,469 in 2023 to N41,766 in 2024, underscoring the growing strain on state finances and public resources. The report entitled ‘A Decade of Subnational Fiscal Analysis: Growth, Decline and Middling Perfomance’ was launched on Tuesday in Abuja. According to the report, 12 states—including Lagos, Edo, Kaduna, and Cross River – exceeded the
Amid ongoing fiscal tightening, Nigeria’s states are piling up more debt on their citizens. Fresh data from BudgIT’s latest ‘State of States’ report shows that average debt per capita rose slightly from N40,469 in 2023 to N41,766 in 2024, underscoring the growing strain on state finances and public resources. The report entitled ‘A Decade of Subnational Fiscal Analysis: Growth, Decline and Middling Perfomance’ was launched on Tuesday in Abuja. According to the report, 12 states—including Lagos, Edo, Kaduna, and Cross River – exceeded the