In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers. This emerged as findings by Sunday PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn), respectively. The external debt was calculated based on the exchange rate of N889/$ used by the Debt Management Office in its report. This is according to an analysis of the latest sub-national debt reports released by the DMO.…
Read MoreHOW 13 NEW GOVERNORS BORROWED N226.8BN IN SIX MONTHS
