Lagos borrows over N126bn in three months, DMO releases other States’ figures

-


The Lagos State Government has borrowed over N126 billion domestically in the last quarter of 2021, the Debt Management Office (DMO) has said.

According to a report released by the DMO, Lagos, whose domestic debt stood at N532.12 billion as of September 30, 2021, is now owing N658.95 billion as at the end of December, 2021.

This represents an increase of N126.83 billion in the last three months of the year 2021, according to the DMO.

DAILY POST observed that Lagos is the State with the highest domestic debt figure as of the time under review.

Ogun State comes second with a total of N232.62 billion debt as of December.

BUSINESS

Domestic debt: Lagos borrows over N126bn in three months, DMO releases other States’ figures

Published

 

on

 March 21, 2022

By

 

The Lagos State Government has borrowed over N126 billion domestically in the last quarter of 2021, the Debt Management Office (DMO) has said.

According to a report released by the DMO, Lagos, whose domestic debt stood at N532.12 billion as of September 30, 2021, is now owing N658.95 billion as at the end of December, 2021.

This represents an increase of N126.83 billion in the last three months of the year 2021, according to the DMO.

DAILY POST observed that Lagos is the State with the highest domestic debt figure as of the time under review.

Ogun State comes second with a total of N232.62 billion debt as of December.

Ogun’s debt profile rose from N192.41 billion to N232.62 within three months, making a debt increase of N40 billion.

Rivers State is the third with N225.50 billion, even as the State’s domestic debt reduced by about N850million.

At the moment, Akwa Ibom State debt stands at N214.60 billion, from N234.85 billion in September.

In Imo State, the domestic debt soared from N151.31 to N205.18; being an increase of N53.87 from October to December, 2021.

While Cross River owes N159.81 billion, Bayelsa, Delta and Plateau are owing N154.613bn, N154.61 billion and N150.49 billion respectively.


Comments

Post a Comment

What do you think??

Top #10 Most Read

Crisis like EndSARS being planned over fuel scarcity in Nigeria – DSS

-
Image
The Department of State Services (DSS) has alerted of a sinister plan to stoke violence in parts of Nigeria, particularly the North Central. Peter Afunanya, the Public Relations Officer raised the alarm in a statement on Saturday. The spokesman said the aim was to cause ethno-religious crisis, ignite reprisals and heat up the polity. The DSS said the sponsors have mobilised foot soldiers and held several meetings in and outside the target areas. The agency said students, striking lecturers, labour unions, disgruntled individuals and strategic groups are to be used “to exploit the global energy situation to carry out a mass protest like the ENDSARS.” Afunanya noted that this is despite ongoing efforts by the government to address the issues. The DSS disclosed it was trailing “the agents of destabilisation who are desirous of using violence to achieve ulterior goals”. The statement warned, “the ring leaders and their cohorts to desist from acts capable of causing a breakdown of law and o...
Read More...

ASUU strike: Nwajiuba says FG working on alternative funding structure for universities

-
Image
ASUU strike: Nwajiuba says FG working on alternative funding structure for universities The Nigerian government is currently working on proposals it can use to resolve the ASUU strike, including a new scheme in which universities implement a different way of earning funds. This was disclosed by Emeka Nwajiuba, former Minister of State for Education and a presidential aspirant under the All Progressives Congress (APC) in an  interview  with Channels TV on Sunday. He stated that the implementation of alternative funding structures is a necessity for university autonomy. What the former minister is saying Nwajiuba apologised to Nigerian students for the continued strike, taking responsibility as their minister. “On behalf of the FG, we want issues to be understood. We have had nearly 15 strikes in 20 years. ASUU has a case, they are making a case for the entire university system,” he said. “The only problem is that we have asked ASUU that strikes can’t cure the problem....
Read More...

Amaechi Raises Alarm, Accuses Electoral Officials Of Rigging

-
Image
The delegates who stormed the voting arena alleged that electoral officials were assisting the delegates who could not write, contrary to the announcement made earlier by the electoral committee that only one electoral official attached to each state would be allowed. Some delegates from Rivers State have alleged rigging in the ongoing All Progressives Congress (APC) presidential primary at the Eagle Square Abuja. The delegates who stormed the voting arena alleged that electoral officials  were assisting the delegates who could not write, contrary to the announcement made earlier by the electoral committee that only one electoral official attached to each state would be allowed. They also alleged change of delegates list by allowing non-delegates to vote. The aggrieved delegates stated that some delegates were not on the ground but their accreditation tags were given to other people. The situation almost disrupted the exercise as security operatives and electoral officials were see...
Read More...

Top 10 Best Football Midfielders In The world Based On Their Current Form.

-
Image
Instagram Twitter LinkedIn Facebook As we approach the final sprint of the football season, we have tried to rank the 10 best midfielders in the world right based on the current form. According to some stats here's a list of the top 10 midfielders in the world right now. 10. Ilkay Gundogan (Manchester City) Gundogan had a stellar 2022. He scored 3 goals and has provided five assists in the Premier League this season. For his feats, he won the Premier League and the Carabao Cup as well. But more importantly, he established himself as one of the most important players in the Manchester City squad. This season, Gundogan has continued his good form with three goals and five assists in many league games.  9. Boubacar Kamara (OM) He is out of contract next June. However, Boubacar Kamara is still used as often by Jorge Sampaoli, on the OM side.  Used just in front of the defense, Boubacar Kamara is very solid in this role. The European leaders are following this file w...
Read More...

JAMB shifts mock exams to April 9

-
The Joint Admissions and Matriculation Board (JAMB) says the 2022 Unified Tertiary Matriculation Examination (UTME) mock examination will now hold on April 9, and not April 16 as earlier scheduled. The board made this known in its Weekly Bulletin of the Office of the Registrar on Monday in Abuja. JAMB said that the change was due to the realisation that April 16, earlier scheduled, was an Easter Saturday; a holy Saturday, celebrated by Christians to mark the end of the Lent period before Easter Sunday. Easter Saturday; a holy Saturday, celebrated by Christians to mark the end of the Lent period before Easter Sunday. The board also noted that the date for the exercise had been affected also by the shift in date for the registration of the UTME and Direct Entry (DE), which was earlier scheduled for Feb.12, but later commenced on Feb.19. It, however, urged all candidates who registered and would want to sit for the mock exercise to note the change of date and be prepared. The News Agency ...
Read More...

ASUU and Nigerian education

-
Image
Leadership of Academic Staff Union of Universities (ASUU) led by its’ President, Biodun Ogunyemi Chief Obafemi Jeremiah Oyeniyi Awolowo (1909 – 1987) was Premier of the Western Region from 1952 to1959, seven years in total, yet the profound influence he has on Nigerian education lingers on from the 20th to the 21st Century. Perhaps it would be there forever, nobody can say. Therefore, it is possible for a thoughtful policy to influence any aspect of society. So with the Academic Staff Union of Universities (ASUU). It does not matter if the policy was followed or not, by future governments or institutions. In the case of ASUU, it was not followed. In spite of that, ASUU has influenced not only the universities but both the primary and secondary education. I am not sure of pre-primary education. ASUU was formed in 1987 not only to look after the welfare of the members of the intellectual class of the universities, but also the welfare of Nigerians altogether. They did this by joining the...
Read More...

6 Celebrities That Didn't Let Their Conditions Stand In The Way Of Their Dreams

-
Image
Some individuals are known to have suffered certain conditions that prevented them from achieving their dreams. However, in this article, I will be sharing with you some famous individuals in the entertainment industry who didn't allow their condition to stand in the way of their dreams. • Famous Nollywood actress and dancer,  Doris Samuel  is one of the movie stars that is currently making waves in the entertainment industry. Age the age of 13, she got one of her legs amputated after she got involved in an accident. Despite her condition, Doris ventured into the Nigerian movie industry in 2014. Today, she has been featured in over 10 movies and she is currently recognized among the most talented Nollywood actress. • Multi-talented actress  Marlee Matlin  is one of the most successful actresses in the American entertainment industry. She has been featured in multiple blockbuster movies including movies like Seinfeld, The Practice, Law & Order,...
Read More...

Six Practices That Will Make You Remain Attractive to Your Wife or Girlfriend

-
Image
The need for some attractiveness is almost universal among men who are involved in relationships. Some men have gotten into the habit of spending a lot of money on body creams, lotions, and even clothes in order to preserve their attractiveness in front of their partner and perhaps other women they come across. However, a man who wants to increase his attractiveness must first realize that it is a broad notion that encompasses more than just one's physical features or complexion; it also includes one's attitude, self-assurance, personal hygiene, and a positive outlook toward other people and situations. In this article, I want to briefly discuss six practices that will make you remain attractive to your wife or girlfriend. 1. The first thing a man should do to keep a woman interested in him is to look good. As part of this, you should constantly have a pleasant scent, maintain a healthy dental hygiene routine, and dress neatly. Most women respond favorably to men who maintain a...
Read More...

Downfall of IPOB-UK finally designates IPOB as terrorist group, bars members from asylum

-
The United Kingdom government has finally accepted Nigeria’s classification of the Indigenous People of Biafra (IPOB) as a terrorist organisation. Following widespread killings and acts of lawlessness, the Nigerian government designated IPOB a terrorist group in 2017. But some foreign countries, including UK, which IPOB leader, Nnamdi Kanu, holds its passport, did not acknowledge the declaration at the time. However, four days after the outlawed group beheaded an army couple, who were on their way to Imo State for their traditional wedding, UK acknowledged IPOB as a terrorist organisation, directing that it should be excluded from its asylum programme. Although the killing, which sparked nationwide outrage, was not among the atrocities of the Nnamdi Kanu-led terror group the UK listed in its policy review document, the action was taken a few days after the murder. The acts of the terrorist group listed by UK Visas and Immigration (UKVI), a division of the British Home Office, were the ...
Read More...

10 Cool New Pop Songs to Get You Through The Week:

-
Image
Pop any of these new tracks into your regular rotation, or listen to all of them in our custom playlist. REYNA Ariel Kassulke Looking for some motivation to help power you through the start of another work week? We feel you, and with some stellar new pop tunes, we’ve got you covered. These 10 tracks from artists including REYNA, Wild Rivers, Mothica and more will get you energized to take on the week. Pop any of these gems into your personal playlists — or scroll to the end of the post for a custom playlist of all 10. Wild Rivers and Wrabel, “Thinking ’bout Love”  Canadian folk band Wild Rivers tapped pop singer-songwriter (and Kesha collaborator) Wrabel to reimagine its track “Thinking ’bout Love,” a gorgeous and delicate reflection on past loves. The addition of Wrabel adds another layer — and perspective — to the already poignant storytelling, and leaves listeners hoping this won’t be the last collaboration from these two acts. —  Lyndsey Havens Milky Chance, “Synchronize”...
Read More...