The Federal Capital Territory’s domestic debt has surged from N88.51 billion to N389.88 billion under Wike, moving Abuja from Nigeria’s ninth-lowest debtor to the second-highest, according to available data.
The dramatic increase in borrowing has lifted Abuja in the rankings of subnational debt, placing it behind only one other entity. The shift marks a notable reversal from its earlier status as one of the country’s lowest debtors.
However, the data comes with a significant caveat: gaps in publicly available financial records mean the full scope of the FCT’s debt situation may not be completely captured.
The increase in debt under Wike, combined with the noted gaps in financial records, means the full picture of the FCT’s obligations remains incomplete.
