LIVE UPDATES
Governor Babajide Sanwo-Olu of Lagos State on Wednesday dismissed concerns over the rising debt profile of the state.
Governor’s Sanwo-Olu remark is in reaction to the National Bureau of Statistics (NBS) report that revealed that Lagos State recorded the highest domestic debt in Q1 2024 with N929. 41 billion, followed by Delta with N334.
Reacting to the NBS’report, Sanwo-Olu said Lagos is still within the standard debt ratio.
According to him, there is no need for concerns as that of the state is lower than the standard debt profile of 40 per cent
“The standard debt ratio that we are meant to meet standardly is about 40%, today we are less than 30, we are about 29 or 28% of those numbers, so we are not even close to it,” he said.
