Nigeria’s total subnational debt rose 9.89% year-on-year (YoY) to N4.36 trillion in 2025 from N3.97 trillion in 2024, yet a number of states went against that tide, maintaining low and in most cases declining debt levels over the same period. According to data compiled by the Nairametrics Research Team from the Debt Management Office (DMO), the ten least indebted states reveal a pattern of fiscal
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