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Nigeria’s states are sinking in a sea of N4trn domestic debt

The economies of Nigeria’s states are sinking under the suffocating weight of domestic debt owed by the states and which has now ballooned to more than four trillion Naira. This debt burden excludes the issuance of Naira denominated bonds which currently stand at over N390bn. Analysts at FBNQuest say the total domestic debt of state…

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