Debts Rise To N11.4tn Despite IGRs, FAAC Allocations
The Debt Management Office on Monday reports that Nigeria's 36 states saw a rise in total debts, reaching N11.47 trillion by June 2024 as this reflects a 14.57% increase from N10.01 trillion in December 2023, despite federal allocations and internally generated revenues. External debt for states and the Federal Capital Territory grew from $4.61 billion to $4.89 billion, with naira-denominated debt surging 73.46% due to the devaluation of the naira. […]
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