The Debt Management Office (DMO) has said that the total domestic debt stock of the 36 states of the federation and the Federal Capital Territory (FCT) as at December 31, 2016, stood at N2.958 trillion.
Lagos, which remains the commercial nerve centre of the country, DMO said in a document posted on its website, emerged the state with the highest local debt stock in the country during the period.
Domestic debt is the amount of money raised by the any sub-national government denominated in local currency and from its own residents.
Source: DMO
Nigeria's Domestic Debt Hits 2.95tn - See How Much Each State Is Owing
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