Top 10 Most Indebted Nigerian States As Of Q1 2025

<blockquote>Despite a marginal 4.89% year-on-year (YoY) decline in total subnational debt, Nigerias 10 most indebted states saw their combined debt rise by 2.49% YoY in Q1 2025, reaching N2.48 trillion, up from N2.42 trillion in Q1 2024.<br><br>The debts of these states combined now account for 64.05% of the countrys total subnational debt.<br><br>The debt profile of Nigerian states has seen significant shifts in Q1 2025, with Lagos maintaining its position as the most indebted state despite a year-on-year (YoY) decline.<br><br>Meanwhile, states like Rivers, Enugu, and Niger recorded staggering increases in their debt burdens.<br><br>The latest data released by Debt Management Office (DMO) shows a reshuffling in Nigerias subnational debt landscape, driven by a blend of fiscal constraints, infrastructure ambitions, oil revenue shifts, and tighter federal allocations.<br><br>This analysis explores the debt trends of the top 10 states and the key factors driving their year-on-year changes.<br><br><b>The 10 most indebted Nigerian states in Q1 2025</b><br>10. Akwa IbomN118.21 billion<br>9. ImoN122.09 billion<br>8. BenueN129.82 billion<br>7. BauchiN142.40 billion<br>6. NigerN143.75 billion<br>5. EnuguN188.42 billion<br>4. OgunN190.14 billion<br>3. DeltaN204.72 billion<br>2. RiversN364.39 billion<br>1. LagosN874.04 billion</blockquote><br><a rel=ugc href="https://nairametrics.com/2025/07/31/top-10-most-indebted-nigerian-states-as-of-q1-2025/">https://nairametrics.com/2025/07/31/top-10-most-indebted-nigerian-states-as-of-q1-2025/</a>
Click here to read full news..