The debt status of states in Nigeria have been revealed.
Ondo State Debt Profile at April 2019 is 49,123,506,028.25 naira
The Fiscal Responsibility Commission, FRC, guidelines said that the debt status of each state should not exceed 50 per cent of the statutory revenue in the previous 12 months.
Most of the states’ debts exceeded 50 per cent of their annual revenues.
Related Posts: All Nigerian State Debt Profile – Past & Present