The total public debt stocks of the Federal Government of Nigeria, states within the Nigerian federation, and the Federal Capital Territory (FCT) jumped to N28.63 trillion as of Q1 2020. This is according to a report by the National Bureau of Statistics (NBS) which was released on Friday. A breakdown of the report showed that the total debt stock of the states as of 31 March 2020 is N4.1 trillion. Meanwhile, these states total Internally Generated Revenue (IGR) for 2019 was N1.3 trillion. They also received N2.47 trillion from FAAC. Note that as always, Lagos State recorded the highest IGR at N398.7 billion. The state also received N117.8 billion in…
Read MoreNigerias public debt increases by N1.23trn in three months
