Seven Northern States, One Oil Producing State Declared Bankrupt in Nigeria

Seven Northern states and one Southern state have been declared bankrupt based on their internally generated revenue in comparison with their Federal Accounts Allocation (FAA). Jigawa, Katsina, Adamawa, Yobe, Niger, Taraba and Benue were tagged insolvent states alongside oil-producing Bayelsa State by the Annual State Viability Index (ASVI) of Economic Confidential. The status of the…

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