Lagos emerges most indebted state in Nigeria as it owes N1.22trn, $1.17b
Lagos State has emerged as the most indebted state in Nigeria. According to the National Bureau of Statistics (NBS), as at the fourth quarter (Q4) 2025, Lagos state is owing a total of N1.22 trillion and $1.17 billion as domestic and external debts respectively. Making the announcement on Monday, April 27, in its Q4 2025…