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13 States technically insolvent, debts rise 163%

Published by Vanguard on Fri, 25 Sep 2020


By Yinka Kolawole Thirteen States in Nigeria may have become technically insolvent as an independent research report indicated they failed fiscal sustainability test. According to the research conducted by BudgIT, a public sector-focused financial information house, the states' revenues could not fund their recurrent expenditure obligations together with their loan repayment schedules due in 2019.Read MoreThe post 13 States technically insolvent, debts rise 163% appeared first on Vanguard News.
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