Governor Hope Uzodimma of Imo State | File Image
Imo State has emerged as one of the 10 most indebted states in Nigeria, with a debt profile of N97.98 billion as at June 2025.
It’s total debt stood at about N262.64 billion in June 2025.
Of the amount, N97.98 billion represents domestic debt which dropped by a 19.75% from the N122.09 billion recorded in March 2025, signifyng progress in local debt reduction.
However, the state’s external debt remains significant at $107.67 million (N164.65 billion), forming a large chunk of its total liabilities.
But, Lagos State maintains the top position with a total debt stock of N2.65 trillion, followed by Kaduna at N1.03 trillion and Rivers at N641.29 billion.
Also read: Imo tops Nigeria’s 10 most educated states
Others with high debt profile include Delta, N204.7 billion; Enugu, N180.49 billion; Ogun, N162.92 billion; Edo, N80.32 billion.
According to the latest figures from the Debt Management Office (DMO), the combined external debt stock of all 36 states and the FCT stood at $4.81 billion as of June 2025, equivalent to about N11.32 trillion, using an exchange rate of N1,529.21 per dollar.
The exchange rate is calculated by Nairametrics Research from the total public debt stock released by the DMO.
Most of the external borrowings were from multilateral and bilateral bodies.
The domestic debt for states and the FCT also rose to N3.96 trillion ($2.59 billion) as of June 2025, marking a 2.48% increase from N3.87 trillion ($2.52 billion) recorded as of March 2025.
Meanwhile, Nigeria’s total external debt, including that of the Federal Government, hit $46.98 billion during the same period.
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