• Monday, December 16, 2024
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Lagos, Rivers, Delta lead top 10 states by expenditure

Lagos, Rivers, Delta lead top 10 states by expenditure

Delta, Rivers and Lagos led the chart in states’ expenditure log in the third quarter (Q3) of 2024.

According to the budget performance reports released by 31 out of Nigeria’s 36 state governments, the 31 states collectively spent N7.07 trillion in the nine months of the year.

Data obtained by BusinessDay show that N3.3 trillion, accounting for 47 percent of total expenditure, was allocated to recurrent costs, including personnel and overheads. The remaining N3.8 trillion, or 53 percent, was dedicated to capital expenditure, primarily for fixed assets.

This report by BusinessDay highlights the 10 state governments with the highest expenditures during the period.

1. Lagos State – N1.34 trillion

In the nine months of 2024, Lagos State expended N1.34 trillion, representing a performance of 58.9 percent of the 2024 budget of N2.27 trillion. This features a capital expenditure of N770 billion and a recurrent expenditure of N566.6 billion. During the period under review, the state reported a total revenue of N1.49 trillion, comprising N912 billion in internally generated revenue and N550 billion from FAAC allocations.

The government expended N84 billion on debt service charges during the period. The economic sector recorded the most expenditure, as the state spent N190.4 billion as personnel cost. The state’s Ministry of Works & Infrastructure recorded an expenditure of N163.4 billion.

2. Rivers State – N529.8 billion

During the period under review, Rivers State spent N529.8 billion out of a proposed N793.5 billion, representing a budget performance of 67 percent. The state’s expenditures during the nine months include a capital expenditure of N343.7 billion and a recurrent expenditure of N186.1 billion.

The state generated a revenue of N720.2 billion during the nine months, with a FAAC allocation of N328.7 billion and an IGR of N269.2 billion.

Read also: High expenditures drive Nigeria’s budget deficit-to-GDP to 7.5%

3. Delta State – N451 billion

The Delta State government spent N451 billion in the first nine months of 2024, reflecting a budget performance of 62 percent of the 2024 proposed budget of N725 billion. Delta State spent N237.1 billion on capital projects within the period, while incurring a recurrent expenditure of N213.9 billion.

The state recorded a revenue of N819.7 billion during the period, with its FAAC allocation hitting N722.7 billion, while the state generated internal revenue of N97 billion. Bulk of the state’s expenditure came from its Works Ministry, where the state expended N118.5 billion.

4. Edo State – N303.3 billion

The Edo State recorded an expenditure of N303.3 billion in the first nine months of 2024, representing a budget performance of 88 percent of the N342.8 billion proposed budget. During the nine months, Edo State recorded a capital expenditure of N176 billion and a recurrent expenditure of N127.3 billion. The state recorded revenue of N317.8 billion during the nine months, with FAAC allocation making up about N247.7 billion.

Within the nine months, Edo State’s personnel cost was N127.3 billion, as the state was the first to effect the new minimum wage of N70,000.

5. Niger State – N252.3 billion

Niger State spent N252.3 billion in the first nine months of 2024, with its capital expenditure making up 68 percent of its total expenditure. The state spent N172 billion on its capital projects, and N80.3 billion on its recurrent expenditure within the period.

The state recorded a revenue of N295.3 billion during the nine months, including foreign loans of N45.1 billion.

The state’s Ministry of Works was the highest source of expenditure, with N132 billion, followed by the Ministry of Tertiary Education with N7.7 billion.

6. Akwa Ibom State – N228.8 billion

Akwa Ibom State expended N228.8 billion during the nine months, representing a 27 percent budget performance of the state’s 2024 proposed budget of N850 billion. The state’s expenditure featured a recurrent expenditure of N145.7 billion and a capital expenditure of N83.1 billion.

7. Katsina State – N216.4 billion

The Katsina State government has reported an expenditure of N216.4 billion in the first nine months of 2024, reflecting a 45% performance of the state’s proposed N481.7 billion budget for the year. A review of the state’s expenditure shows that it spent N139.5 billion on its capital projects and N76.7 billion as recurrent expenditure.

During the nine months, Katsina generated revenue of N394.7 billion, with FAAC allocation contributing N245.1 billion. The state also received N46.8 billion in aid and grants, majorly from foreign bodies. In terms of capital expenditure, the state Ministry of Works was the highest spender with about N37 billion during the nine months, followed by the Ministry of Basic and Secondary Education with about N21.5 billion.

8. Imo State – N214.9 billion

In the first nine months of 2024, Imo State recorded an expenditure of N214.9 billion, featuring a capital spending of N138.8 billion and a recurrent expenditure of N76.1 billion. The state’s expenditure in 9M 2024 represents a 36 percent performance of the 2024 proposed budget of N592.2 billion.

During the period, Imo State generated a revenue of N218.4 billion, including an FAAC allocation of N172.1 billion and an IGR of N15.2 billion. The state’s Ministry of Works expended N77.5 billion during the period, while the Ministry of Special Projects under the office of the Governor also expended N29.7 billion.

Read also: Our target is funding recurrent expenditure with IGR – Oyebanji

9. Oyo State – N210.9 billion

Oyo State expended N210.9 billion in the first nine months of 2024, representing a 48 percent budget performance of the 2024 proposed budget of N438.4 billion. The state’s expenditure featured a capital expenditure of N88.1 billion and a recurrent expenditure of N122.8 billion. Unlike its contemporaries, Oyo State expended more on personnel and overhead costs than capital projects.

The state generated a total revenue of N342.9 billion over the nine months, comprising N187.5 billion from FAAC allocations, N45.8 billion from internally generated revenue (IGR), N10 billion from aids and grants, and N62.5 billion from borrowings. The state’s Works Ministry was the highest spender during the nine months with N60.8 billion, followed by the Education Ministry with an expenditure of N34.7 billion.

10. Enugu State – N207.8 billion

Enugu State was the second-highest spender in the Southeast region, with an expenditure of N207.8 billion during the nine months. The state’s capital expenditure was N163.6 billion during the nine months with its recurrent expenditure at N44.2 billion.

During the period, the state generated revenue of N238.9 billion, with FAAC contributing N87.7 billion, an IGR of N40 billion and foreign grants of N75.3 billion. In nine months, Enugu State expended N91.7 billion on infrastructure through its Ministry of Works and Infrastructure.

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