The debt status of the 36 states in Nigeria and the Federal Capital Territory FCT) have been revealed.
The Debt Profile of the Federal Capital Territory FCT) as at April 2019 is 164,245,377,802.60 naira.
The Fiscal Responsibility Commission, FRC, guidelines said that the debt status of each state and the FCT should not exceed 50 per cent of the statutory revenue in the previous 12 months.
Most of the states’ debts however, exceeded 50 per cent of their annual revenues.
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