The Debt Management Office (DMO) has released the domestic debt of profile of states for the first quarter (Q1) of 2023.
According to the data released, Lagos state, the commercial centre of the country has the highest domestic debt profile compared to the other five states in the southwest.
In the data, Lagos’s domestic debt is larger than the combination of all the debts of the other five states.
Lagos is leading the region’s debt profile with N812.4bn followed by Ogun having N293.2bn and Oyo—with N161.7bn.
Others include Osun— with N147.1bn, Ekiti—with N114.3bn and Ondo—with the smallest N75.5bn.
The total domestic debt profile of the five states is N791.7bn.