The total revenue of Nigerian states almost doubled compared to the 2023 fiscal year, largely driven by increased allocations from the Federation Accounts Allocation Committee (FAAC) and the removal of fuel subsidy, according to the civic-tech organisation, BudgIT Foundation.

Speaking on Channels Television’s Politics Today programme on Wednesday, Vahyala Kwaga, Deputy Country Director of BudgiT, said states are earning significantly more, noting that Internally Generated Revenue (IGR) has also improved considerably across the board.

“The total revenue of all the states almost doubled compared to the 2023 fiscal year, and it is clear that a lot of this had to do with revenue and transfers from the federation accounts allocation committee, or had to do with removal of subsidy. So states are earning far more, but IGR has also improved in no small way across the board,” Kwaga explained.

“Our report this year is significant in the sense that we are looking at the ten-year performance. We are comparing year-on-year IGR growth and also comparing the 2023 fiscal year to the 2024 fiscal year, and we have seen some significant improvements. Some states have improved their IGR quite significantly.”

The new BudgIT report reviews the performance of Nigeria’s federating units over the past decade, highlighting the growing fiscal independence of several states despite continued reliance on FAAC allocations. (Channels TV)