Taraba State Debt Profile Drops To N93.18bn in 2021

Domestic debt profile of Taraba State has dropped from N106 Billion in 2020 to N93.18 Billion in 2021, the Debt Management Office DMO has said.

A document obtained by Taraba Truth and Facts Newspaper from the Debt Management Office (DMO), recently in Abuja, titled: 'States, Federal Capital Territory (FCT) and Federal Governments' External Debt Stock as at December 31, 2021' shows that Taraba State is among the least indebted states in the federation.

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 2021.

As at December 2020, the state was owing about 20.7million dollars and N106 Billion local and foreign debts respectively.

Figures from the DMO shows that while the domestic debt reduced by about N13.2 billion, foreign debt of the state increased slightly with about USD3.5 Million in 2021.

 Meanwhile, Nigeria's total debt as of December 31, 2021, rose to N39.556 trillion ($95.779 billion), from N32.915 trillion it was on December 31, 2020 ($86.392 billion).

The amount represents the total external and domestic debt of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT) administration.

 

The Director-General, DMO, Patience Oniha, said the total debt includes new borrowings by the Federal Government and the sub-nationals.