Thirty-two states and the Federal Capital Territory’s debt rose to nearly $5.7 billion in fresh external loans in 2025, driving a year-on-year surge in subnational foreign debt despite higher inflows from Federation Account Allocation Committee disbursements, an analysis has shown. Data from the Debt Management Office indicated that the combin...
•Governors Abdullahi Sule, AbdulRahman AbdulRazaq and Chukwuma Soludo Nigerians are graduÂally turning the heat on governors in the face of dilapidated infrastructure and remarkable absence of economic growth in majority of states despite increased federal allocations to them since 2023. For example, available data shows that the total FAAC re...

