A WikkiTimes review of the budget performance documents has shown that five North Central states spent the sum of N101 billion on debt servicing in 2023.
Study shows that Plateau spent over 50% of the money spent with N51.3 billion spent by the state on debt servicing.
The least amount for debt servicing was spent by Nasarawa with the sum of N5.24 billion expended. The data for Benue state could not be obtained as of the time of this report.
$275 Million Dollars External,N802 Billion Domestic Loan Portfolio
Further review also shows that the foreign debt portfolio stood at $275 million while the external debt of the region was N802 billion.
Among the North central states, Benue state has the highest amount of domestic debt with the sum of N187 billion debt portfolio, Plateau is the second most indebted state with N173.9 billion.
The least amount is owed by Nasarawa state with N71.1 billion.
Externally, Niger state has the highest figure with $68 million while Benue has the lowest external debt with $29 million.
There are concerns on the debt portfolio of states which pushes pressure on them to service such debts with monies running into billions of naira.
