Headline

10 Poorest States Owe Over N1tn, Provide Govs Jumbo Package

Published

3 years ago

June 8, 2023

The 10 poorest states in Nigeria owe local and foreign creditors about N1.18tn, according to findings by The PUNCH.

While the data for the poorest state was acquired from the National Bureau of Statistics, the debt data was obtained from the Debt Management Office.

The NBS, in its National Multidimensional Poverty Index report, disclosed that 133 million Nigerians are multi-dimensionally poor.

The NBS said 63 per cent of Nigerians were poor due to a lack of access to health, education, living standards, employment, and security.

The Multidimensional Poverty Index offered a multivariate form of poverty assessment, identifying deprivations across health, education, living standards, work, and shocks.

The report presented the level of poverty in each state of the country.

The NBS report showed Sokoto, Bayelsa, Gombe, Jigawa, and Plateau were the top five poorest states in 2022.

These states were followed by Yobe, Kebbi, Taraba. Ebonyi, and Zamfara.

It was observed that the top 10 poorest states had a total of 43.99 million poor people, which was 33.08 per cent of the total population of poor people in Nigeria.

Sokoto led the poorest, with 90.5 per cent of people in the state poor. It is followed by Bayelsa with 88.5 per cent poor people, Gombe with 86.2 per cent, Jigawa with 84.3 per cent, and Plateau with 84 per cent.

Yobe had 83.5 per cent of its population as poor, Kebbi had 82.2 per cent and Taraba had 79.4 per cent.

Both Ebonyi and Zamfara states each had 78 per cent of their total population poor.

The NBS report noted that 65 per cent of poor Nigerians (86 million) were in the North, while 35 per cent (nearly 47 million) were in the South.

The report noted, “Overall, 65 per cent of poor people – 86 million people live in the North, while 35 per cent – nearly 47 million – live in the South. In general, a disparity between North and South is evident in both incidence and intensity of multidimensional poverty, with the North being poorer.

“However, the level and number of poor people needs to be addressed in all zones – each of which are home to between 11 and 20 million poor people except North-West, which has 45 million poor people due to its larger population and higher level of poverty.”

It also noted that 72 per cent of people in rural areas were poor. It was the same for 42 per cent of people in urban areas.

Aside from struggling with a high poverty rate, the 10 poorest states also struggled with local and foreign debts.

Data from the subnational debt report as of December 2022 showed that the states had N998bn domestic debt and $386.16m foreign debt (about N178.28bn, using the exchange rate of the Central Bank of Nigeria of N461.68 to a dollar as of Tuesday).

From the debt data, Plateau had the highest local debt of N149.01bn, then Bayelsa (N146.37bn) and Gombe (N139.32bn).

Zamfara had local debt of N112.2bn, Yobe had N90.76bn, Sokoto had N90.6bn, Taraba had N87.96bn, and Ebonyi had N76.5bn.

The least owing states on the list for subnational domestic debt were Jigawa (N43.95bn) and Kebbi (N61.31bn).

It was further observed that Bayelsa had the highest foreign debt of $60.39m.

It was followed by Ebonyi ($58.57m), Taraba ($46.47m), Kebbi ($40.93m), Sokoto ($36.56m), Gombe ($32.48m) and Plateau ($32.4m).

The least debtor owing foreign creditors were Yobe ($22.51m), Jigawa ($26.99m), and Zamfara ($28.86m).

The PUNCH further observed that despite the high poverty and debt, some of the states released huge pension benefits to their past governors.

The Jigawa State ‘Former Public Officers Pension and other Benefits Law No. 15 of 2015’ stipulates that a governor who successfully completes his term without impeachment will be entitled to a monthly pension equivalent to the current salary of the current governor, two brand new vehicles to be provided by the state government and to be replaced after every four year, six-bedroom fully furnished house, two personal assistants not below grade level 10, two drivers selected by the governor and to be paid by the state, a fully furnished office in any location of choice and fully paid medical treatment within Nigeria and abroad.

The deputy governor is also to get a monthly pension equivalent to the incumbent’s salary, one assistant not below level eight, one brand new vehicle, a four-bedroom flat, and an office in a location of his choice.

In Sokoto, each former governor, under the Sokoto State Pension Law, gets N200m every four years, while the deputy is entitled to perks amounting to N180m, being monetisation for other entitlements, including domestic aides, residences, and vehicles that can be renewed after every four years.

Section 2 (2) of the Sokoto State Grant of Pension (Governor and Deputy Governor) Law, 2013 states, “The total annual pension to be paid to the governor and deputy governor shall be at a rate equivalent to the annual total salary of the incumbent governor or deputy governor of the state, respectively.”

The Ebonyi State Political Office Holders Amendment Law, 2011, makes provision for the payment of pension to Governor Umahi, who is set to move to the Red Chamber of the National Assembly. The law also made provisions for vehicles and personal aides, among others, for the governor and his deputy.

Yobe State, in its pension law, provides that former governors be given a severance gratuity of N200m, two vehicles to be replaced every four years, free medical care and a house in the state or the Federal Capital Territory, among others provisions.

Also, Plateau State has a pension law that supports the payment of N600,000 to its ex-governor as monthly take-home; Gombe State has a law supporting the provision of N300m as pension benefits for the ex-governors.

Zamfara State repealed its pension law that allowed for the payment of pensions and other allowances to the state’s former governors and their deputies shortly after the immediate past Governor, Abdul’aziz Yari, in a leaked letter to the State Government, requested his N10m monthly upkeep. The letter evoked outrage across the country, with many people calling for the abolition of the law in states that had them.

The PUNCH reported that some of these states also owed salaries and pension of their workers amid the high poverty rate.

It was reported that in Plateau State, the new Governor, Caleb Muftwang of the PDP, would have to settle outstanding salaries owed by his predecessor, Simon Lalong of the APC.

In Taraba State, almost all categories of workers were owed, from lecturers in the state-owned university to teachers. The Taraba State NLC had during the 2023 Labour Day celebration, urged the governor to settle the six months’ salaries of local government employees and five months for primary school teachers before handing over to the incoming administration.

In Zamfara State, it was reported that the former Governor, Bello Matawalle, owed workers at least two months’ salaries.

A professor of economics, Prof. Ode Ojowu, earlier urged the government and key stakeholders to come up with policies, programmes and projects that would tackle rising poverty.

Also, the former Minister of State for Finance, Budget and National Planning, Prince Clem Agba, earlier said that it was concerning that despite the Social Investment Programme designed to tackle poverty, with more than five million persons impacted, poverty still persisted in the country.
PUNCH

Headline

Aircraft Crashes In Owerri With Four Persons Onboard

Published

2 days ago

December 17, 2025

Editor

Photo: File copy

A Cessna 172 aircraft with registration number 5N-ASR, operated by Skypower Express, has crashed at the Sam Mbakwe International Cargo Airport, Owerri, Imo State.

The aircraft had departed Kaduna International Airport en route to Port Harcourt International Airport before diverting to Owerri after the crew declared an emergency.

The crash occurred at about 8:00 pm on the airport premises, with four passengers and crew members onboard.

Confirming the incident, the Director, Public Affairs and Family Assistance of the Nigerian Safety Investigation Bureau (NSIB), Mrs. Bimbo Oladeji, said the agency had been notified of the crash.

According to the NSIB, the aircraft crashed on the approach area of Runway 17, but no fatalities have been recorded so far.

The statement said: “Following the occurrence, airport emergency services were successfully activated and arrived on site promptly. Reports indicate that there was no post-crash fire, and the runway remains active for flight operations, with other aircraft taking off safely after the incident.

“Efforts are currently underway to coordinate the recovery and evacuation of the distressed aircraft from the crash site to allow for a detailed wreckage examination.”

The NSIB said it has officially activated its investigation protocols in line with its statutory mandate

The Director-General of NSIB, Capt. Alex Badeh Jr., sympathised with the management of Skypower Express over the incident and expressed relief that no lives were lost.

Badeh Jr. added that the Bureau’s investigation team is already coordinating with relevant authorities to secure the crash site and commence a detailed investigation into the cause of the accident.

Two days ago, 11 persons narrowly escaped death as a private jet crash-landed at Mallam Aminu Kano International Airport, Kano, on Sunday morning.

The occupants, including passengers and cabin crew, were safely evacuated amid an intense atmosphere, eyewitnesses told The Guardian.

The private jet, owned by Flybird Aviation, crash-landed at about 9:30 a.m. while approaching Kano Airport en route to Abuja.

The incident attracted urgent attention, with emergency staff and other stakeholders converging at the runway to render rescue operations.

The management of the Federal Airports Authority of Nigeria (FAAN) is yet to release an official statement on the incident. Unofficial sources disclosed that the passengers have been taken to an unknown destination.

Several aircraft incidents have occurred at Kano Airport, with several lives lost.

The last incident occurred in May 2002, when an EAS Airline aircraft departed the runway at Aminu Kano International Airport at 1:29 p.m. local time en route to Lagos.

Headline

Musk Breaks Record As First Person Worth Over $600 Billion

Published

2 days ago

December 16, 2025

Editor

Elon Musk, Chief Executive Officer of SpaceX, Tesla, and xAI, has reached a new personal wealth milestone, surpassing a net worth of $600 billion, driven primarily by a recent valuation increase of SpaceX.

The development makes Musk the first individual in history to exceed the US$600 billion threshold.

According to Bloomberg’s Billionaires Index, Musk’s net worth stood at approximately $638 billion as of 15 December 2025, with the increase largely attributed to SpaceX, which was recently valued at around $800 billion following an insider share sale.

The privately held aerospace company, based in Starbase, Texas, is now considered the most valuable private firm globally, significantly boosting Musk’s personal holdings.

Musk’s stake in Tesla, estimated at roughly 12 per cent, is valued at nearly $200 billion, while his majority ownership of xAI Holdings is estimated at $60 billion.

Collectively, these assets place him on track to potentially approach US$700 billion, widening the gap between him and the world’s second-richest individual, former Google CEO Larry Page, valued at $265 billion.

The SpaceX valuation comes ahead of a projected public listing in 2026, which could see the company valued at approximately $1.5 trillion.

“Other shareholder meetings are snooze-fests but ours are bangers. Look at this. This is sick,” Musk said in November during Tesla’s shareholder meeting, referring to a performance-linked pay package approved by investors.

He added, “I super appreciate it.” The package, potentially worth up to US$1 trillion in stock, is tied to market-capitalisation and operational milestones over the next decade.

SpaceX’s Starlink satellite network has also contributed to investor confidence. The company continues to expand high-speed internet access to underserved regions worldwide.

Chad Gibbs, Vice President of Starlink Operations, stated that the satellite technology “bypasses the need to build massive amounts of infrastructure,” allowing broader and faster connectivity.

Musk’s ascent in personal wealth follows years of strategic risk-taking and long-term planning, with Tesla’s focus on electric vehicles, battery technology, and autonomous systems laying the foundation for his financial growth.

Analysts note that the combination of SpaceX’s soaring valuation, Tesla’s long-term incentives, and Musk’s diverse portfolio underpins his current status as the world’s wealthiest individual.

Headline

South Korea, Japan Protest China, Russia Aircraft Incursions

Published

1 week ago

December 10, 2025

Editor

South Korea and Japan reacted furiously on Wednesday after Chinese and Russian military aircraft conducted joint patrols around the two countries, with both Seoul and Tokyo scrambling jets.

South Korea said it had protested with representatives of China and Russia, while Japan said it had conveyed its “serious concerns” over national security.

According to Tokyo, two Russian Tu-95 nuclear-capable bombers on Tuesday flew from the Sea of Japan to rendezvous with two Chinese H-6 bombers in the East China Sea, then conducted a joint flight around the country.

The incident comes as Japan is locked in a dispute with China over comments Prime Minister Sanae Takaichi made about Taiwan.

The bombers’ joint flights were “clearly intended as a show of force against our nation, Defence Minister Shinjiro Koizumi wrote on X Wednesday.

Top government spokesman Minoru Kihara said that Tokyo had “conveyed to both China and Russia our serious concerns over our national security through diplomatic channels”.

Seoul said Tuesday the Russian and Chinese warplanes entered its air defence zone and that a complaint had been lodged with the defence attaches of both countries in the South Korean capital.

“Our military will continue to respond actively to the activities of neighbouring countries’ aircraft within the KADIZ in compliance with international law,” said Lee Kwang-suk, director general of the International Policy Bureau at Seoul’s defence ministry, referring to the Korea Air Defence Identification Zone.

South Korea also said it deployed “fighter jets to take tactical measures in preparation for any contingencies” in response to the Chinese and Russian incursion into the KADIZ.

The planes were spotted before they entered the air defence identification zone, defined as a broader area in which countries police aircraft for security reasons but which does not constitute their airspace.

Japan’s defence ministry also scrambled fighter jets to intercept the warplanes.

Beijing later Tuesday confirmed it had organised drills with Russia’s military according to “annual cooperation plans”.

Moscow also described it as a routine exercise, saying it lasted eight hours and that some foreign fighter jets followed the Russian and Chinese aircraft.

Since 2019, China and Russia have regularly flown military aircraft into South Korea’s air defence zone without prior notice, citing joint exercises.

In November last year, Seoul scrambled jets as five Chinese and six Russian military planes flew through its air defence zone.

Similar incidents occurred in June and December 2023, and in May and November 2022.

Meanwhile, Tokyo said Monday it had scrambled jets in response to repeated takeoff and landing exercises involving fighter jets and military helicopters from China’s Liaoning aircraft carrier as it cruised in international waters near Japan.

It also summoned Beijing’s ambassador after military aircraft from the Liaoning locked radar onto Japanese jets, the latest incident in the row ignited by Takaichi’s comments backing Taiwan.

Takaichi suggested last month that Japan would intervene militarily in any Chinese attack on the self-ruled island, which Beijing claims as its own and has not ruled out seizing by force.

AFP