Enugu leads as four states cut domestic debt by over 20% in six months

Four Nigerian states reduced their domestic debt by more than 20 per cent in the first half of 2026, with Enugu recording the biggest reduction.

According to an analysis of Debt Management Office (DMO) data, Enugu, Jigawa, Ondo and Zamfara reduced their domestic debt between December 2025 and June 2026.

Four Nigerian states reduced their domestic debt by more than 20 per cent in the first half of 2026, with Enugu recording the biggest reduction.

According to an analysis of Debt Management Office (DMO) data, Enugu, Jigawa, Ondo and Zamfara reduced their domestic debt between December 2025 and June 2026.

The four states had a combined domestic debt of N224.66 billion in December 2025. By June 2026, the figure had fallen to N126.85 billion.

This represents a reduction of N97.81 billion, or 43.53 per cent, within six months.

Enugu recorded the highest reduction at 52.73 per cent, followed by Jigawa with 34.71 per cent, Ondo with 26.82 per cent and Zamfara with 20.86 per cent.

Enugu

Enugu’s domestic debt fell from N157.60 billion in December 2025 to N74.51 billion in June 2026.

This represents a reduction of N83.10 billion, or 52.73 per cent, the largest decline recorded by any state during the period.

The state recorded a 23.84 per cent reduction in the first quarter, before cutting its debt by another 37.93 per cent in the second quarter.

Jigawa

Jigawa reduced its domestic debt from N1.60 billion in December 2025 to N1.04 billion in June 2026.

The reduction amounted to N555.41 million, representing 34.71 per cent.

The state recorded no change in its debt during the first quarter, but reduced it by 34.71 per cent in the second quarter.

Ondo

Ondo’s domestic debt dropped from N8.42 billion to N6.16 billion during the six-month period.

This represents a reduction of N2.26 billion, or 26.82 per cent.

The state reduced its debt by 13.11 per cent in the first quarter and a further 15.78 per cent in the second quarter.

Zamfara

Zamfara’s domestic debt fell from N57.04 billion in December 2025 to N45.14 billion in June 2026.

The state reduced its debt by N11.90 billion, representing 20.86 per cent.

Most of the reduction occurred in the first quarter, when the debt fell by 16.77 per cent. It declined by another 4.91 per cent in the second quarter.

Other states also recorded notable reductions. Kwara’s debt fell by 18.93 per cent, Ogun by 16.89 per cent, Anambra by 16.74 per cent, Ebonyi by 15.55 per cent and Bayelsa by 15.36 per cent.

Overall, 26 states reduced their domestic debt between December 2025 and June 2026, while 10 states and the Federal Capital Territory recorded increases.

Edo recorded the largest increase at 135.72 per cent, followed by the FCT at 89.98 per cent, Borno at 70.52 per cent, Adamawa at 52.74 per cent and Delta at 48.41 per cent.