Latest data has shown that no 29 Nigerian governors spent about N2 trillion in the first three quarters of 2024The January to September 2024 budget implementation data were gathered from their states’ websites after the governors started receiving a 40 per cent increase in their federal allocationThe report indicated that the governors did not meet their target in terms of internally generated revenue and got N533.29 billion in loans, while N658.93 was spent on servicing the loans
No less than 29 governors in Nigeria N1.994 trillion on refreshments, travelling, utilities, sitting allowances and other recurrent expenditures between January to September 2024.
It was also discovered that the governors got N533.29 billion in loans while N658.93 were spent in servicing the loans, which they owned by local, foreign and multilateral creditors.
List of governors who spent N2 trillion on refreshment in 2024
Photo Credit: @officialABAT
Source: Twitter
IGR: How governors performed in 2024
The Punch further reported that the governor lagged behind in their revenue-generating power as they got a total sum of N1.92 in their internally generated revenue as against that revenue target of N2.868 trillion. This means they have a deficit of N948.28 billion.
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This revelation came following a 40 per cent increase in their state’s allocation from the federation account. Of the 36 states, only six did not have the latest January to September budget implementation data. The states are Ogun, Borno, Sokoto, Gombe, Kwara, Kaduna and Kano.
Below is the summary of data gathered from some of the state governors as reported by The Punch:
Alex Otti of Abia State
Spent N17.91bn on operating expensesGenerated N22.15bn in revenue, missing the N32.14bn targetBorrowed N3.901bn and allocated N10.91bn for debt servicing
Ahmadu Fintiri of Adamawa State
Spent N41.45bn on recurrent expenditureEarned N9.16bn income out of N22.24bn revenueBorrowed N10bn and paid N22.68bn to service debts
Governor Umo Eno of Akwa-Ibom State
Spent N85.45bn on recurrent expenditure, exceeding revenue by N43.98bnGenerated N41.47bn revenuePaid N34.47bn as debt service, with no borrowing
Charles Soludo, Anambra State
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Generated N28.296bn revenue, surpassing recurrent spending of N12.70bnSpent N4.56bn on debt service, with no borrowing
Bala Mohammed. Bauchi State
Spent N99.31bn on operating expensesCollected N15.92bn out of N37.03bn targetBorrowed N33.64bn and paid N27.54bn as debt service
Douye Diri, Bayelsa State
Generated N57.85bn IGR, exceeding revenue target of N23.87bnSpent N75.23bn on operating costs and N30.54bn on debt service
Benue State, Hyacinth Alia
Spent N29.45bn on operating expensesCollected N8.71bn revenue out of N23.91bn targetSpent N5.48bn to service previous loans, with no borrowing
Cross River State, Bassey Otu
Spent N55.73bn on recurring expensesCollected N32.42bn IGRBorrowed N20.67bn and spent N19.99bn on debt service
Delta State, Oborevwori Sheriff
Spent N121.54bn on recurrent expenditureEarned N97.02bn revenue out of N110.3bn targetServiced debt with N55.9bn, with no borrowing
Ebonyi State, Francis Nwifuru
Spent N37.73bn on recurrent expensesEarned N15.67bn revenueBorrowed N15.65bn and spent N8.46bn on debt service
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Edo State, Godwin Obaseki
Spent N75.78bn on recurrent expenditureGenerated N52.68bn revenueBorrowed N12.84bn and spent N27.5bn on debt service
Ekiti State, Biodun Oyebanji
Spent N74.73bn on recurrent expenditureGenerated N23.16bn revenueBorrowed N11.75bn and spent N12.93bn on debt service
Peter Mbah of Enugu State
Spent N10.88bn on operating expensesCollected N39.98bn revenueBorrowed N1.39bn and spent N6.93bn on debt service
Hope Uzodimma of Imo State
Spent N42.75bn on operating expensesCollected N15.24bn revenueSpent N15.94bn on debt service, with no borrowing
Umar Namadi of Jigawa State
Spent N35.69bn on operating expensesCollected N18.41bn revenue out of N50.65bn targetBorrowed N744.75m and spent N2.17bn on debt service
Tinubu’s 2025 budget
Henzodaily.ng earlier reported that the President Bola Tinubu-led federal government has proposed a N47.9 trillion budget for 2025 as 2024 approaches its end.
The 2025 budget was proposed at the FEC meeting on Thursday, November 14, which President Tinubu presided over.
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The budget is expected to shape the country’s economic trajectory as many Nigerians look forward to relief.
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Source: Henzodaily.ng