Photo Source: Daily Trust

States in the Federal Republic of Nigeria have a total local debt of about N3 trillion as at June 2017 compared to N1.2 trillion in December 2011.

In a little under 7 years, our states have grown their local debt by a whopping 16% annually (using compounded annual growth rate).

The table below provides a list of all the states and their local debt profile from December 2011 compared to the most recent data of June 2017. On the extreme right is the compounded annual growth rate (CAGR) for each state. CAGR annualized the rise in debt of each state over the 7 year period.

Table of growth in debts

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