The Periscope Reporter
Eight states in Nigeria may not survive without funding from the Federal Allocation Account (FAA) due to their poor Internally Generated Revenue (IGR), said a report by the Economic Confidential.
The Annual States Viability Index (ASVI) released at the weekend compared the IGR of each state with its Federation Account Allocations (FAA) stating that the eight states have a poor IGR of less than 10 percent.
The are the financial danger states:
Bayelsa, N12bn compared to a total of N152bn from the Federation Account Allocation (FAA) in 2020 representing 8%.
Jigawa with IGR of N8.6bn compared to FAA of N107bn representing 8.1%
Katsina, N11.3bn compared to FAA of N130bn representing 8.8%
Adamawa with IGR of N8.3bn compared to N91bn of FAA representing 9.1%.
Yobe, IGR of N7.7bn compared to N84bn of FAA representing 9.2
Niger with IGR of N10.5bn compared to N109bn of FAA representing 9.6%,
Taraba with IGR of N8.1bn compared to N82bn of FAA representing 9.8%
Benue with IGR of N10.46bn compared to N106bn of FAA representing 9.8% in 2020.
Meanwhile the report said the 36 states of the federation and the Federal Capital Territory (FCT) generated N1.3 trillion as Internally Generated Revenue (IGR) in 2020, with Lagos leading with N418 billion.
It also said the IGR of Lagos state exceeded that of 22 other states combined.
Rivers state was next with N117bn compared to its FAA of N198bn representing 58%
Ogun has N50bn compared to FAA of N88bn representing 57%
Kaduna with N50bn compared to FAA of N124bn representing 40%
Oyo with IGR of N38bn compared to FAA of N127bn representing 29.7%
Anambra generated N28bn compared to FAA of N94bn representing 29.6%.
It noted that the FCT generated N92bn IGR against N30bn from the Federation Account.
Daily Trust