Nigeria’s long-awaited revenue rebound is failing to translate into tangible development as many state governments channel new fiscal gains into growing overheads and debt servicing, a pattern that’s crowding out capital investments needed to spur growth.
Data from BudgIT’s ‘2025 State of States’ report shows that while combined revenue from the Federal Account Allocation Committee (FAAC) to 35 states surged by 110.74 percent to N11.38 trillion in one year and Internally Generated Revenue (IGR) jumped from N8.66 trillion in 2023 to N14.4 tri
