FCT domestic debt surges more than six-fold in one year

The Federal Capital Territory (FCT) has seen its domestic debt surge more than six-fold within a year, according to recent data. This increase is part of a broader trend where 11 subnational governments added a combined N654 billion in debt over 12 months. The sharp rise in FCT's debt raises questions about fiscal sustainability and the management of subnational finances. Analysts are calling for prudent borrowing practices to avoid long-term economic strain.

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