Nigeria’s most indebted states: Lagos, Delta, FCT leads as subnational debt rises to N4.59 trillion in Q2 2026

NAIRAMETRICS | 29-09-2026 08:06am |

Nigeria's state-level domestic debt stock rose to N4.59 trillion in the second quarter of 2026. The increase was much slower than the sharp 3.74 percent jump recorded between December 2025 and March 2026. Lagos, Delta and the Federal Capital Territory were listed as the most indebted subnational entities. The data indicates a continued but moderating rise in borrowing by states and the FCT.

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