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The Lagos State governorship candidate of the Peoples Democratic Party (PDP), Adedeji Doherty, has raised concerns over the state’s debt burden, saying it is putting pressure on the economy.
Doherty spoke during the 2027 Lagos governorship debate organised by Channels Television, TVC, PUNCH Newspapers, Vanguard Newspapers and TheCable on Sunday.
He said the state spends between N19 billion and N20 billion on servicing its external and domestic debts, describing the amount as a heavy burden.
“The debt burden (in Lagos) is heavy. When you are paying close to about 19 to 20 billion in external debt, in domestic debt, in foreign debt then you have a burden you are carrying that is weighing you down,” he said.
The PDP candidate also criticised what he described as the lack of financial independence among local government areas in the state.
He argued that local governments were closest to residents and should have access to sufficient resources to address their needs.
Doherty said the situation made it difficult for councils to provide essential services and respond to challenges in their communities.
“When your LGAs are not independent, those are the closest to the people and when you do not give them what they need, when you are taking in LASAA and putting it in the pocket of the state, these are the issues,” he added.
He made the remarks while presenting his views on the financial management of Lagos State and the role of local governments ahead of the 2027 governorship election.
