Rivers State has emerged among the top four Nigerian states with the highest increase in domestic debt within a year, raising fresh concerns over fiscal responsibility at the sub national level.
A review of data released by the Debt Management Office (DMO) shows that the state’s domestic debt rose sharply from ₦232 billion in the first quarter of 2024 to ₦364 billion by the end of December 2024. This represents a staggering year-on-year increase of ₦131 billion, or 56.7%.
Despite the figure remaining unchanged between the fourth quarter of 2024 and the first quarter of 2025, Rivers still ranks high in domestic borrowing, alongside Enugu, Niger, and Taraba states.
The sharp rise in debt is particularly concerning given that Rivers received increased allocations from the Federation Account Allocation Committee (FAAC) during the same period.
Fiscal analysts warn that the trend of rising subnational debt, especially in states benefiting from improved federal disbursements, may signal deeper issues around public financial management and long-term sustainability.
