Imo State Leads in Domestic Debt Reduction by N141.34B

Between Q2 2023 and Q2 2026, ten Nigerian states achieved notable reductions in domestic debt, as reported by the National Bureau of Statistics. Imo state recorded the largest decrease, reducing its domestic debt from N220.84 billion to N79.50 billion, a decline of N141.34 billion or approximately 64%.

Despite this reduction, Imo's external debt rose from $77.81 million in June 2023 to $109.20 million in June 2026, an increase of about $31.38 million. Akwa Ibom followed, cutting its domestic debt from N199.58 billion to N81.53 billion, a reduction of N118.05 billion or 59.1%, while its external debt increased from $43.54 million to $81.84 million, an increase of approximately $38.30 million.

Ogun state reduced its domestic debt from N293.20 billion to N189.05 billion, a decrease of N104.15 billion, but its external debt rose from $111.62 million to $225.12 million, an increase of about $113.50 million. Plateau also saw a significant reduction in domestic debt from N157.62 billion to N59.37 billion, representing a reduction of N98.24 billion.