States must show Nigerians how they spend rising revenues – Aigbogun

Frank Aigbogun, Publisher of BusinessDay Media Limited and Chairman of BDTV, has challenged State Governments across Nigeria to embrace greater transparency, accountability and competitiveness in the management of public resources, saying citizens deserve to know how increasing revenues are being utilised to improve their lives.

Aigbogun made the call on Thursday in Abuja at the States Competitiveness and Investment Readiness Awards (SCIRA) organised by BusinessDay Media Limited, Nigeria’s leading business and economic intelligence news platform.

The awards celebrate Sub-national Governments that have distinguished themselves through impactful governance, infrastructure development, security improvements, economic reforms and policies that enhance investment attractiveness.

Speaking at the event, Aigbogun said the awards were designed to recognise governors and States that are transforming local economies, creating jobs, fighting poverty and insecurity, and positioning their states as destinations for investment.

“We are not merely handing out trophies tonight. We are recognising vision, innovation, resilience and the relentless pursuit of excellence that drives our states and our nation forward,” he said.

He noted that States had enjoyed significantly improved revenues in recent years, revealing that the 36 States collectively received about N16.94 trillion from the Federation Accounts Allocation Committee (FAAC) between 2023 and the first quarter of 2026.

According to him, the huge inflow of resources places a responsibility on governments, civil society and the media to monitor how public funds are being spent and to acknowledge states that are delivering measurable development outcomes.

“There is no doubt that states have enjoyed better revenue from the federation account in the last three years. It is our duty to monitor what is going on and celebrate those that have surpassed their peers in the management of these resources”, he stated.

Aigbogun, however, expressed concern that many States continue to struggle with poor budget implementation, weak transparency mechanisms and limited public access to information.

“If someone sitting in Canada visits a state’s website today, what exactly will they see? Transparency must improve. It is good to be working, but it is even better when people know you are working”, he said.

The BusinessDay Publisher stressed that the failure of public resources to translate into visible development outcomes had contributed to rising poverty and insecurity across the country.

He argued that improved governance, transparency and accountability remain critical to unlocking economic growth and restoring public confidence in government institutions.

Aigbogun further disclosed that SCIRA was created as a neutral and credible platform for measuring and recognising States that are successfully translating policies into economic results, attracting investments and strengthening productive sectors.

“The competition among states has already begun. What we are creating is a transparent and credible platform for identifying the leading lights of governance and economic development in Nigeria,” he said.

On security, he called for stronger collaboration among State Governments, warning that insecurity had evolved from a regional challenge into a national crisis.

“Insecurity is no longer the problem of one State or a few States. It has become Nigeria’s problem. If we fail to address it, it could define us as a people”, Aigbogun warned.

He urged governors to share successful strategies, build partnerships and learn from one another, insisting that solutions to Nigeria’s security and economic challenges must come from within the country.

“The answers to our problems, whether insecurity or poverty, lie in Nigeria. They will not come from abroad”, he added.

Aigbogun congratulated all award recipients, describing them as examples of leadership, resilience and innovation whose efforts are helping to build a stronger and more prosperous Nigeria.