Investigation by WikkiTimmes has revealed that Bauchi state has the highest domestic and external debt profile of all the six states in the North Eastern part of the country.
The state’s combined domestic and external debts figures now stand at one hundred and nineteen billion three hundred and fifty eight million six hundred and sixty six thousand five hundred and eighty six Naira (119,358,666,586) as at June this year.
When disaggregated, Bauchi state domestic debt currently stands at seventy eight billion seventy million nine hundred and thirty seven thousand three hundred and fourteen Naira eighty Kobo (78,070,937,314.80)
On the other hand, the state’s external debt as of June 2018 is to the tune of one hundred and thirty-four million nine hundred and seven thousand six hundred and twelve dollars (134,907,612) or forty-one billion two hundred and eighty-one million (41,281,729,272) at the official rate of three hundred and six Naira to a dollar.
These Figures published by the debt management office of the federation also indicate that Bauchi state’s external debt profile is higher than combined debt of Borno, Gombe, Taraba and Yobe, the total debt profile of which is about one hundred and ten million dollars.
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Similarly, Bauchi state domestic debt profile of seventy seven billion Naira is higher than the domestic debt of Gombe and Yobe states the combined total of which is sixty eight billion Naira.
The state’s current population estimate according to the National Bureau of Statistics is six million five hundred and thirty seven thousand three hundred and fourteen people.
The combined debt profile figures of the state (119,358,666,586) divide by its entire population (6,537,314) means that every citizen of the state is indebted to the tune of eighteen thousand two hundred and fifty eight Naira (N18,258).
