Nigeria News: Budget Review Highlights South-West States’ Spending on Allowances
A recent review of budget performance documents for South-West states in Nigeria has revealed that Osun, Ekiti, and Ondo spent N1.6 billion on honorarium and sitting allowances from January to September 2024. Notably, Ekiti alone accounted for N766.3 million, while Osun and Ondo spent N764.3 million and N111.9 million, respectively.
In light of economic challenges, concerns mount over escalating budgets for allowances and other expenses in 2025, including Osun’s planned N1.6 billion for allowances and N2.5 billion on refreshments. Despite inadequate revenue, states heavily depend on federal allocations and loans, intensifying scrutiny on accountability. What steps should these states undertake to ensure financial efficiency?
Key Takeaways:
- South-West states spent N1.642 billion on allowances from January to September 2024.
- Osun State earmarks N1.6 billion for 2025 allowances, raising financial prudence concerns.
- Heavy reliance on federal allocations and loans persists amid revenue inadequacy.
For detailed insights, visit the Sahara Reporters. What additional measures can these states adopt to increase fiscal accountability and reduce dependency on external funding?
