Lagos has highest foreign debt portfolio DMO
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states with the lowest debt portfolio include taraba with 22.1 million dollars borno 22.2 million dollars yobe with 28.4 million dollars and plateau with 29.6 million dollars1 following lagos in a distant second is edo which incurred 279 million dollars1 according to the dmo other top debtors are anambra owing 107.4 million dollars oyo 106.34 million dollars ogun 105.3 million dollars osun 101.5 million dollars and abia with 100.2 million dollars1 following closely are ekiti with 97.9 million dollars ondo with 81.4 million dollars rivers 79.5 million dollars ebonyi 67.9 million dollars kano 65 million dollars katsina 64.7 million dollar and delta 63.8 million dollars1 the statement also revealed that imo incurred 61.2 million dollars nassarawa 61.4 million dollars adamawa 57.8 million dollars niger 55.7 million dollars and bayelsa with 57.2 million dollars1 others are akwa ibom with 48.3 million dollars kebbi 46.7 million dollars kwara 49.8 million dollars and sokoto with 40.2 million dollars1 others are kaduna 232.9 million dollars cross river 193.7 million dollars bauchi 134.9 million dollars and enugu 127.9 million dollars1 others are kogi with 32.37 million dollars jigawa 32.80 million dollars fct 32.83 million dollars zamfara 34.2 million dollars benue 34.7 million dollars and gombe 38.5 million dollars1 nan reports that the director-general of dmo ms patience oniha had at a media conference on aug. 14 said as at june 30 the nations public debt stock increased marginally by 3.01 per cent from that of dec. 20171 one of the beneficial outcomes is the rebalancing of the debt stock the ratio of domestic debt to external debt inching towards the target of 6040 and the target of 7525 between long term domestic debt and short term domestic debt1 according to the figures for june 30 released by the dmo the ratio between domestic and external debt stood at 70 to 30 compared to 73 to 27 in dec. 20171 oniha said the ratio of 60 to 40 was important to ensure that the nation was not 100 per cent indebted externally and that it was also easier to raise money domestically1 oniha also said the federal government had been borrowing from the external debt market to refinance maturing local debts because of the lower interest rates obtainable from foreign sources1