Cross River, 12 Other States Technically Insolvent, Debts Rise 163%
By Yinka Kolawole, Vanguard Newspaper Cross River and 12 other States in Nigeria may have become technically insolvent as an independent research report indicated they failed fiscal sustainability test. According to the research conducted by BudgIT, a public sector-focused financial information house, the States’ revenues could not fund their recurrent expenditure obligations together with their