Connect with us


No Nigerian state can adequately finance its budget without borrowing

Despite an increase in disbursements at the monthly Federation Account Allocation Committee (FAAC) meeting since the beginning of 2018, no state in Nigeria can finance its budget without borrowing, a report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has shown.

The report which detailed analysis of FAAC disbursement for the third quarter of the year is contained in NEITI’s quarterly review, an analytical review of topical issues designed to ensure transparent and accountable management of revenues from the extractive sector.

The report, made available to PREMIUM TIMES on Monday, showed that there are wide disparities between revenue figures of many of the states across the federation and their budgetary figures.

The review showed that the trend of increasing revenues to the federation witnessed since the beginning of the year continued in the third quarter of 2018 as total FAAC disbursements in Q3 rose to N2.278 trillion.

“The last time total disbursements exceeded this amount was in the second quarter of 2014 (N2.510 trillion),” the report said. “The amount disbursed in the third quarter of 2018 also made it two consecutive quarters in which disbursements have exceeded N2 trillion since the third quarter of 2014. The amount disbursed in the third quarter of 2018 also made it the fourth consecutive quarter in which FAAC disbursements have increased.”

Meanwhile, the report also detailed the difference between hypothetical revenue figures and budgets for the various states of the federation.

“There is virtually none of the states that can adequately finance their budgets from IGR and FAAC disbursements,” the report showed. “The states will have to resort to different levels of borrowing.”

READ ALSO:  Facebook Testing for Nigeria News App

According to the report, the gap between the budgets and revenues is below N50 billion in three states of Enugu, Taraba and Yobe; while the difference between the revenues and budgets is between N50 billion and N100 billion in 14 other states. They include Abia, Anambra, Delta, Edo, Ekiti, Gombe, Jigawa, Kebbi, Kogi, Nasarawa, Niger, Ondo, Plateau, Zamfara.

“However, this difference is above N100 billion in majority of the states (Adamawa, Akwa Ibom, Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Imo, Kaduna, Kano, Katsina, Kwara, Lagos, Ogun, Osun, Oyo, Rivers, Sokoto).
“Akwa Ibom, Cross River, Lagos and Ogun States present special cases as the difference in these states is above N200 billion.”

NEITI added that although IGR is historically high in Lagos and Ogun States, it is very unlikely that the states’ actual IGR for 2018 will be sufficient to cover the difference between revenue and budgets.

The NEITI publication is one of the organisation’s policy and advocacy tools.

Premiumtimes report

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Hon Prince Ned Woko donates Money to Indigenes of Anioma for Medical Treatments

News reaching is that Hon Prince Ned Nwoko has donated some millions to cater for the medical treatment of some physically challenged Indigenes of Anioma.

The Honorable made his donations to the Medical care of the Physically challenged indigenes when they paid him a courtesy call at his Mount Ned Nwoko resort Idumuje-Ugboko yesterday.

prince ned nwoko, Hon Prince Ned Woko donates Money to Indigenes of Anioma for Medical Treatments, Nightwatchng

Hon Prince Ned Nwoko donating Millions to the Physically Challenged Indigenes of Anioma

Briefly addressing the physically challenged indigenes of Anioma, whom he called his friends, Prince Ned Nwoko admonished them to use the funds judiciously in taking good medical care of themselves while stating that his phone line remains open to them whenever they need to talk with him as always.

Responding, one of the Anioma beneficiaries who pleaded anonymity appreciated the Star Prince for always responding to their needs whenever they called on him.

According to the speaker,

“if only we have two of your kind in Anioma land, Anioma would have witnessed more massive human capital development but it is our prayers that God will continue to protect and bless you more for being a father to the fatherless and to the needy”

Hon Ned Prince Nwoko in a philanthropic bid recently donated the sum of 100million naira for the reconstruction of a federal road in Delta state and another 59million Naira as scholarship grant for Anioma and verifiable Delta state students.

His consistent positive gesture towards Humanity has put him in the spotlight and on the news of recent.

“Prince Ned Nwoko has done alot for the Anioma people and we are happy to be associated with his brand always, this is not the first nor the last time that he has been assisting us. We pray God to always bless and enrich his circle”- Madam isioma, an elderly woman who identified herself as a retired head teacher from Isele-Azagba acknowledged.

READ ALSO:  Watch: Paris Hilton Speaks On Calling Off Engagement
Continue Reading


Muslim Man accuse RCCG pastor of Aborting wife’s pregnancy

A young Nigerian Yoruba Muslim Man is strongly at neck lengths with an RCCG pastor whom he accused of aborting his girlfriend’s pregnancy.

His accusation is currently a topic on social media as reports of how the whole thing played were disclosed in his chat with Daddy freeze.

Muslim Man, Muslim Man accuse RCCG pastor of Aborting wife’s pregnancy, Nightwatchng

Muslim Man accuse RCCG pastor of Aborting wife’s pregnancy

According to the disheartened young Man, he had just returned from the United States to meet his love interest, in their period of making out he got her pregnant with the intent of Marrying her.

He also went on to disclose that when the lady informed her parents, they seized her phones and took her to the hospital under the guise of checkup but connived with the doctor and got her baby aborted.

The young man revealed that he and the pastor’s daughter later got married at a registry without the pastor parents’ approval.

Ever since they got married, the parents of his wife have been harassing him and arresting him.

He says he’s chosen to speak out so that they will stop harassing him. The wife also wants to have good relationship with her Muslim husband and with her pastor parents.

READ ALSO:  Nigerian Ujewen Clan Includes Actual Auction of Young Girls in the Market
Continue Reading


Black Panther Full Movie Download

Are you yet to download The Black Panther 2018 Full Movie? If No you are missing out on the first ever black super hero movie.

Black Panther is a Movie about Black Excellence raking Millions of dollars on its first release in 2018.

This is 2019 , Adding Black Panther to your watchlist this new year is not a bad Idea, You can stream the Black Panther Full Movie Online.

You can also download the movie for free, getting such sites for free download is quiet easy and will be discussed in the later part of this Article.

Black Panther Full Movie Download

You can Download Black Panther Full Movie as soon as possible but its not all about Watching the Movie is about understanding the roles this movie play in our society, The significance of the Custom used which can be seen in a short Video below;

Oscar-nominated costume designer Ruth E. Carter had to admit that
designing the outfits for Marvel’s Black Pantherout February 16th, was her biggest challenge.


Black Panther Full Movie, Black Panther Full Movie Download, Nightwatchng
Cover Art

Shortly After the death of his father, the king of Wakanda, young T’Challa returns home to the isolated high-tech African nation to succeed to the throne and take his rightful place as king.

A powerful enemy reappears, T’Challa’s mettle as king.

The Black Panther – gets tested when he’s drawn into a formidable conflict that puts the fate of Wakanda and the entire world at risk.

Faced with treachery and danger, he must release the full power of Black Panther to defeat his foes and secure the safety of his people and their way of life.

READ ALSO:  Nora Roberts Responds To Tomi Adeyemi's Accusations




Download Black Panther Full Movie

Like I said earlier, You can search and download the movie for free here, here and here

Continue Reading