None of the select Nigerian states achieved a 60% budget performance from January to September 2024. This underperformance raises concerns as they prepare for substantial 2025 budgets. Katsina, Jigawa, and Niger states struggled, achieving 44.9%, 45.6%, and 30.4% respectively, indicating issues with revenue generation and financial management. Source
Niger state, alarmingly, plans a 48.3% higher budget for 2025 amidst poor historical execution rates. Reliance on loans, like the N79 billion covered 31.3% of its 2024 expenditures, accentuates financial challenges. A critical change in fiscal strategy seems imperative to improve budget efficiency and reduce dependency on debt.
How can Nigerian states improve their budget performance and reduce reliance on loans? Share your thoughts.
