Emeka Okoroanyanwu
Thirty three out of the 36 states in the country are to spend a total of N7.476 trillion this year. The amount represents both the recurrent and capital expenditures of the states for the 2019 financial year. Three states, Cross River, Adamawa and Zamfara states are yet to release their budgets.
Figures obtained by Nigerian Xpress Business shows that Lagos State with a budget appropriation of N852.3 billion will spend the highest amount among the 33 states of the federation.
This, however, is not surprising as Lagos is Nigeria’s economic capital and the highest revenue earner in terms of internally generated revenue (IGR). Lagos is followed by oil rich Akwa Ibom with a budget of N670.7 billion and Rivers which has a budget of N480 billion.
Others are Ogun, N402 billion; Delta, 367.o9 billion; Oyo, N285 billion; Kano, N219 billion and Bayelsa N275 billion.
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Nassarawa State which earmarked N86.64bn is the lowest that has been presented across the nation. The state is in the North-Central region of Nigeria and is endowed in the area of agriculture, tourism and solid minerals like coal and iron ore.
At the moment, the South-West region with the following states; Lagos, Ogun, Oyo, Osun, Ondo and Ekiti with a total budget of N2.01 trillion has the highest budget combined as a geo-political zone.
The region could, however, be overtaken by the South-South depending on the budget of Cross River state, which is yet to send its 2019 appropriation bill to the State Assembly.
The North-East region for now has the lowest budget combined at N676bn with exemption of Adamawa State
