Lagos leads as debt profile of states rises
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the debt burden of the 36 states has risen to over N3.342 trillion as of 2016. The Cable reports that this was contained in the third edition of NEITI Quarterly Review, which was summarised in a statement by the director of information, Ogbonnaya Orji. NEITI’s legitimate interest in the debt profiles, revenue generation and management in Nigeria is as a result of the fact that over 70 percent of the revenues involved are derived from the extractive industry. READ ALSO: Presidency reacts to call to remove Magu by Senate\ The review indicated that Lags state had the highest debt followed by Delta, Osun and Akwa Ibom who all had a combined debt profile of of N1.262 trillion representing about 38% of debts owed by the 36 states. As at the end of 2016, Sokoto, Anambra and Yobe ha the least debt prof