• Withdrawal of CBN’s budget support threatens survival • Some states can’t pay debts in 50 years, says Uba • Adonri warns of impeding social unrests State governments are in dire strait as make-up funding sources dry up amid tumbling earnings, crippling their ability to repay existing loans and meet essential obligations. While state governments mouth disdain for mounting debts and declining financial capacity, the cost of governance has continued to rise across different states with only a handful managing to pay the N30,000 minimum wage. Amid growing liquidity crisis, findings have suggested that many state governors are queuing for commercial loans to offset “spending plans and schedules” that cannot wait. This is raising dust in the financial circle, as it would increase the already high banks’ exposure to governments.