Nigerian states have seen their collective debts decline marginally in the first quarter (Q1) of 2025 buoyed by an almost 50 percent jump in federally allocated revenue received in the same period, an analysis by BusinessDay has shown. According to a quarterly data released by the Debt Management Office (DMO), the 36 states, including the Federal Capital Territory (FCT) borrowed a total sum of N3.87 trillion in the three months to March 2025, 4.87 percent lower than N4.07 trillion in the same period last year, even though it rose by 2.3 perc
Nigerian states have seen their collective debts decline marginally in the first quarter (Q1) of 2025 buoyed by an almost 50 percent jump in federally allocated revenue received in the same period, an analysis by BusinessDay has shown. According to a quarterly data released by the Debt Management Office (DMO), the 36 states, including the Federal Capital Territory (FCT) borrowed a total sum of N3.87 trillion in the three months to March 2025, 4.87 percent lower than N4.07 trillion in the same period last year, even though it rose by 2.3 perc