State Debts
If Abia was mentioned, the negative minded individuals would’ve gone to town. Now that Abia is not mentioned, they will rather find something idiotic to talk and paint Abia black.
Some States they compare us to have borrowed to the point of no return.
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Kudos to Ikpeazu. Doing a lot with little.
The debt status of most states of the federation exceeds 50 per cent of their annual revenues. For 18 states, the debt profiles exceed their gross and net revenues by more than 200 per cent. Lagos, Osun and Cross River states record over 480 per cent debt to gross revenue.
According to the Punch newspaper,
According to the guidelines, the debt status of each state should not exceed 50 per cent of the statutory revenue in the previous 12 months.
The debt status of most states of the federation exceeds 50 per cent of their annual revenues. For 18 states, the debt profiles exceed their gross and net revenues by more than 200 per cent. Lagos, Osun and Cross River states record over 480 per cent debt to gross revenue.
According to the Punch newspaper,
According to the guidelines, the debt status of each state should not exceed 50 per cent of the statutory revenue in the previous 12 months.
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