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Oil States Slash ₦611bn Debt, Rivers Borrows More
The Business NG
|The BusinessNG
Oil-producing states in Nigeria have reduced their domestic debt by about ₦611 billion between June 2023 and March 2025, thanks to huge inflows from the 13% oil derivation fund.
Fresh figures from the Debt Management Office (DMO) show that the combined debt of the nine oil states dropped from ₦1.66 trillion in June 2023 to ₦1.05 trillion by March 2025. This means
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