Top 28 Nigerian state governors with highest debt in 2022, 11 leave massive debts for successors

LEGIT

About 28 governors leaving office in May 2023 or seeking re-election including the Minister of the Capital Territory have amassed about N5.8 trillion in sub-national debts. The figures are based on the reports of the Debt Management Office (DMO) on sub-national debts. 

List of governors seeking re-election Out of the 28 governors, 11 are eligible for re-election in March 2023. 

They include Governors Mohammed Yahaya of Gombe; Babagana Zulum (Borno); Abdullahi Sule (Nasarawa); Seyi Makinde (Oyo); Mai Buni (Yobe); Bello Matawalle (Zamfara); Babajide Sanwo-Olu (Lagos); Ahmadu Fintiri (Adamawa); Dapo Abiodun (Ogun); Bala Mohammed (Bauchi) and Abdulrahman Abdulrazak of Kwara state. 

The sub-national debts are categorised into domestic borrowings from local creditors and external loans from foreign or international creditors such as the World Bank and International Monetary Fund (IMF).