Most indebted Nigerian states as of March 2026
Nigeria’s subnational domestic debt rose in the first quarter of 2026, driven largely by a 106.43% increase in borrowing by the Federal Capital Territory (FCT). The post Most indebted Nigerian states as of March 2026 appeared first on Nairametrics .
By March 2026, Nigeria's subnational domestic debt had risen to N4.52 trillion, a 3.74% increase from N4.36 trillion in December 2025, according to the Debt Management Office (DMO). The Federal Capital Territory (FCT) experienced the most significant surge, with its debt stock escalating by 106.43% from N188.86 billion to N389.88 billion.
This marked a more than doubling of the FCT's debt stock over the three-month period. The top 10 jurisdictions accounted for N3.09 trillion, or 68.35% of the total subnational domestic debt. Enugu led the decline among the top 10, with its debt stock falling to N120.03 billion from N157.60 billion, a 23.84% reduction. Cross River's debt stock declined by 3.68% to N132.30 billion, while Niger's debt decreased marginally by 1.39% to N140.69 billion.
Edo's debt stock surged by 89.04% to N172.37 billion, pushing the state into the top six most indebted jurisdictions. Despite the FCT's debt increase, Rivers remained Nigeria's second-largest state debtor with a debt stock of N362.43 billion. Lagos, the most indebted state, had a domestic debt stock of N1.21 trillion, representing 26.64% of the total subnational domestic debt.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
