A new analysis of state finances has revealed that at least ten Nigerian states are exposed to huge amounts of foreign debt, the repayment of which could now far exceed their internally generated revenue (IGR) and monthly federal allocations.
According to data from Debt Management Office (DMO) and BudgetIT 2025 condition of states According to the report, states like Kaduna, Edo, Bauchi, Cross River and Adamawa are the worst affected, with their foreign debt now higher than it was.
