The 36 states of Nigeria as well as the Federal Capital Territory, Abuja are heavily indebted to banks to the tune of N12.9 trillion and this is just for the 2015 fiscal period.
The revelation was made Wednesday night by the National Bureau of Statistics (NBS) and the huge fund may have been borrowed to execute programmes within the period under review.
The highest borrower, according to the report is Lagos with N10.1 trillion followed by Rivers with a credit facility of N658.2 billion from banks.
This was closely followed by the Federal Capital Territory with N402.1 billion, Kano with N185.05 billion, Abia with N72.3 billion and Adamawa with N45.6 billion.
Bauchi got a facility of N31.09 billion, Bayelsa got N26.1 billion, Borno N55.49 got billion, Cross River got N121.9 billion and Delta got N159.9 billion.
Kaduna got N151.9 billion, Enugu got N116.65 billion, Ebonyi got a credit facility of N44.8 billion, Edo got N70 billion, Ekiti got N31.5 billion, , Gombe got N18.7 billion and Imo got N71 billion.
While Oyo got N172.2 billion, Ogun got N107.8 billion, Zamfara got N35.8 billion, Kwara got N61.6 billion as Kogi got a credit of N13.34 billion from banks.
Just as Lagos had the highest credit facility, it also had the highest deposit within the period under review with N8.7 trillion.
It was followed by Rivers which deposited N1 trillion.
Oyo deposited N388 billion, Ogun deposited N279.1 billion, Kaduna deposited N270.8 billion, Imo deposited N221.1 billion, Katsina deposited N105.14 billion, Kogi deposited N61.34 billion, and Kwara deposited N124.54 billion.