Thirty-three state governments cannot finance their recurrent expenditure without allocation from the federation account, a report prepared by BudgiT has said.
The federation account, according to nigerianstat.gov.ng, is the central pocket through which the three tiers of governments maintain their respective workforce and fund their developmental projects.
BudgiT said in the report released in Abuja on Wednesday that going by its findings, many states would be in jeopardy if the federal allocation were to reduce owing to oil price fluctuations.
The report titled, ‘State of states 2019’, explained that only three state governments could finance their recurrent expenditure independently, without funds from the federal allocation.
It gave the three states as Lagos, Rivers and Akwa Ibom.
Speaking on the outcome of its findings, the Lead Researcher, BudgiT, Orji Uche, said only 19 states could meet their expenditure with internally generated revenue and federal allocation.
Source: Punch Newspaper
