7 states spend 190% of revenue on loan repayment
Seven states spent an average of 190 per cent of their Internally Generated Revenue (IGR) on debt servicing in the first quarter of 2025, a development that shows the worsening fiscal strain facing subnational governments. Data from the Q1 2025 Budget Implementation Reports of Bayelsa, Adamawa, Benue, Niger, Kogi, Taraba, and Bauchi states show that debt service expenditure in each …