There are concerns that, Gombe and 27 other States may be bogged down by rising Debt profile amidst economic challenges facing the country.
Although Gombe is not among the highly indebted states, it’s rising Debt raises concerns looking at its position among the state’s economies in the country.
It is among the least indebted state with N139.1 billion internal debt and a external debt of $46.93 million.
According to a BBC report which quoted Debt Management Office (DMO) figures published between June and September, 2022, 28 states currently have a total debt profile of N5.8 trillion comprising of local and international debts.
The report put the total internal debts by the states at N4.38 trillion while external debt stood at $1.42 billion which is about N3.15 trillion using N449.53 to the Dollar.
The report revealed that, out of the 28 states, 10 top the list as the most indebted states.
According to the DMO figures, Lagos tops the list with N87704 billion internal debt and $1.27 billion external debt. It is followed by Kaduna State which has N86.86 billion internal debt and $586.78 billion as internal debt.
Rivers is the third most indebted state with N225.51 internal and $140.18 billion external debts followed by Cross Rivers with N175.2 billion internal and $215.75 million external debt.
Ogun State is fifth with N241.78 billion internal and $122.73 million external borrowing while Bauchi State’s internal debt was put at N144.28 billion and and external debt of $172.76 million
Enugu has N89.89 billion, $123.02 million internal, Kano has N125.19 billion external and $109.42 million external debt while Abia borrowed N104.57 billion internally and a foreign debt of $95.63 million followed by Adamawa with N122.48 billion and $77.01 million external debt.
As the 2023 election draws nearer, there are concerns about the debt being accumulated in the states as some governors complet their terms while others seek re-election.
11 out of the 28 state governors in states with significant debt profile are seeking re-election.
The 12 governors include that of Gombe State, Mohammed Inuwa Yahaya, Borno, Babagana Zulum, Nasarawa, Abdullahi Sule, Oyo, Seyi Makinde and Mai Mala Buni of Yobe State
Others are; Governor Bello Matawalle of Zamfara; Babajide Sanwo-Olu, Lagos Ahmadu Fintiri, Adamawa, Dapo Abiodun, Ogun, Bala Mohammed, Bauchi and Governor Abdulrahman Abdulrazak of Kwara State
Governors that are completing their terms include; Emannuel Udom of Akwa Ibom State, Samuel Ortom, Benue, Ifeanyi Okowa of Delta State now the running mate to the PDP Presidential Candidate, Atiku Abubakar.
Others are; David Umahi of Ebonyi State, Aminu Bello Masari, Katsina, Bello Bagudu, Kebbi, Abubakar Bello, Niger Aminu Tambuwal, Sokoto, Simon Lalong, Plateau and Darius Ishaku of Taraba State.
The rest include; Nasiru El-rufai of Kaduna State, Abdulahi Umar Ganduje, Kano, Victor Ikpeazu, Abia, Ifeanyi Ugwuanyi, Enugu, Ben Ayade, Cross Rivers and Nyesome Wike of Rivers State.
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