Imo Makes Top Ten Of Most Indebted States In Nigeria

Imo State’s problem has been further compounded in terms of debt burden, thereby mortgaging the socioeconomic lives of her citizenry.

Agreeably, the mountain of debts began from under Rochas Okorocha administration, which dug a whole in the purse of the State.

This is so because under Ikedi Ohakim, he got about N18 billion bond secured for the development of proposed Imo Wonder Lake was later secured by Okorocha when he came into office as its original course was changed.

Under Governor Hope Uzodimma, save for over N7 billion naira he recovered from the former Governor Okorocha, he, too, has accumulated so much debt for the state.

Uzodimma led government can easily point at Owerri-Orlu, Owerri-Mbaise and Owerri-Okigwe express roads and other infrastructure as real cause for heavy borrowing. While the opposition revealed that Uzodimma has received over N200 billion form JAAC and FAAC, monthly 13 percent derivations and other intervention funds were discounted.

It is incontrovertibly a fact that these major roads across the states are federal government roads for which the credit should be given to the outgoing President Muhammadu Buhari who gave approvals for these roads.

Uzodimma is considered an accountable leader to an extent as some of his aides complain of financial starvation and one-man show approach to governance.

While borrowing is permissible in so far as it is for development purposes, it seems as though the State is focused on federal roads, which is not bad afterall but what happens to all the billions that have continued to flow into the coffers of the state.

According to available data which was shared by the Guardian Newspaper, some States in Nigeria have accumulated much debt more than others, and most of these debts have been channelled towards infrastructural development in one way or another, and today, according to claims.

This write shall be looking at the status of the top ten most indebted States in Nigeria, which Imo State is not exempted.

According to the Guardian, first on the list is Lagos State: this is a southwestern State and is the major economic hub of Nigeria, and it is estimated that Lagos State had incurred 1.3trillion Naira debt.

Second on the list is Kaduna State: this is a state located in the northwestern part of Nigeria, and according to the available data, Kaduna has incurred 340.4billion Naira in debt.

Third on our list is Ogun State, which is located in the southwestern part of Nigeria, and it is estimated that Ogun had incurred about 331.5billion Naira in debt.

Fourth on our list is Delta State which is located in the south-south region of Nigeria, and it is estimated that Delta has incurred about 331.1billion Naira in debt.

Fifth on the list is Cross-River State which is also located in the south-south region of Nigeria with about 291.1billion Naira in debt.

Sixth in the list is Rivers State, which is also located in the south-south region of Nigeria, and it is estimated that Rivers has incurred about 264.5billion Naira in debt.

The seventh on the list is Akwa-Ibom State, also located in the south-south region of Nigeria with a debt of about 239.4billion Naira.

Eight on the list is Edo State, also located in the south-south region of Nigeria with a debt of 227.6billion Naira.

Ninth on the list is Imo State, located in the southeast region of Nigeria, and it is estimated that Imo has incurred a debt of about 227.1billion Naira.

Finally, Bauchi State is the last on the list of the top ten States in Nigeria with the highest debts, and it is reported that Bauchi has a debt of about 217.9billion Naira.