Taraba State Debt Profile:

• State Owes 106bn local debt, $20M Foreign debt

•Taraba Among Least indebted States- DMO

 

Taraba state has the lowest debt among the entire 36 states in Nigeria with only 20.7million dollars and N106 Billion local and foreign debts respectively, the Debt Management Office DMO has said.

A document obtained from the Debt Management Office (DMO), recently in Abuja, titled: 'States, Federal Capital Territory (FCT) and Federal Governments' External Debt Stock as at December 30, 2020' also detailed other states' external debts.

The Document also shows that Taraba State is also leading in the reduction of domestic debts owed by various state governments in Nigeria as of the end of December 2020.

As at September 2018, the state was owing about 22.1Million dollars in external debt but dropped to 20.7 Million Dollars at the end of 2020.

Lagos State, the commercial nerve-center of Nigeria, has retained its position as the state with the highest foreign debt in the country, with a foreign debt put at 1.45 billion dollars as at June 30.

According to NBS, the total states and Federal Capital Territory (FCT) domestic debt was put at N4.19trillion with Lagos accounting for 12.15 per cent of the debt stock while Jigawa has the least debt stock in this category with a contribution of 0.74 per cent. While Taraba State owed the least foreign debt in the country.