At the recent 140th meeting of the National Economic Council chaired by Vice President Kashim Shettima, startling revelations surfaced regarding the indebtedness of Nigeria’s 36 states and the Federal Capital Territory (FCT) to the federal government. According to a presentation by the Office of the Accountant General of the Federation, these entities collectively owe an outstanding liability of N1.72 trillion in budget support facilities.

This disclosure underscores the financial strain faced by sub-national governments across Nigeria and raises concerns about fiscal sustainability. The debt burden, evenly...

https://ratecaptain.com/states-n1-7-trillion-debt-to-fg-unveiled-at-national-economic-council-meeting/