36 States’ 2024 Budgets Hit N15.91trn

Year 2024 looks rosy for the nation’s 36 states including the Federal Capital Territory as the governors presented a whopping sum of N15.91 trillion budget for the new year.

President Bola Ahmed Tinubu had in late November, 2023 presented to a joint session of the National Assembly a N27.50 trillion budget. The budget tagged the Budget of Renewed Hope is currently undergoing scrutiny and deliberation for final approval

 The proposed budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.”

Subsequently, governors for each state of the federation followed with a presentation to their state’s Assembly.

A breakdown of the states’ budgets in regions show that Southwest led the pack with N4.20 trillion. This was followed by South South: N3.43 trillion, South East: N2.29 trillion, North West: N2.50 trillion, North Central: N1.89tn and North East: N1.60 trillion.

With a total of N15.91 trillion budget, Lagos state government led others with N2.25 trillion. This was followed by Akwa Ibom with N845.63 billion, Rivers: N800.39billion, Delta: N724.90billion, Ogun: N703.03billion, Imo: N592.23billion, Abia: N567.20bn, Bayelsa: N480.99billion, Enugu: N521.56billion, Anambra: N410.10billion.

Niger state led other northern states with N613.27billion. This was followed by Kaduna state with N458.27 billion budget. The state was followed by Katsina: N454.31bn.

Other states are Oyo: N434.22bn, Zamfara: 423.52 billion , Ondo: N384.53 billion, Kano with N350.20billion, Borno: N340.62 billion,, Edo: M325.30bn, Taraba: N311.39 billion, Bauchi: N300.22 billion, Jigawa: N298.14 billion, Kwara: N286.40 billion, Plateau: N295.43bn and Osun: N273.91 billion

Kogi state presented ₦258.28 billion budget. The budget will be executed by the incoming governor as the state governor, Yahaya Bello takes a bow in February 2024 after two terms of four years in office.

Sokoto also presented a N270.1 billion budget, followed by Kebbi: N250.13 billion, Cross river: N250 billion, Adamawa: N225.89 billion, Benue: N225.73 billion, Yobe: N217.00bn, Gombe: N207.75bn, Ebonyi: N202.13bn, Nasarawa: N199.88bn.

Ekiti state presented the lowest budget of N159.57billion.

Recall that a report by Economic Confidential, a subsidiary of PR Nigeria, had declared seven states, including Lagos, Ogun, Rivers, Kaduna, Kwara, Oyo and Edo as the most viable states in Nigeria for 2022.

The Assistant Editor of Economic Confidential, Zekeri Idakwo, who disclosed this at a press briefing and presentation of the 2022 Annual States Viability Index Report in Abuja, said the report was compiled from figures released by the Nigerian Bureau of Statistics, and the Federal Account Allocation Committee.