In the first nine months of 2024, 29 Nigerian state governors collectively spent N1.994tn on recurrent expenditures, including refreshments, allowances, travel, and utilities, while facing significant revenue shortfalls, according to findings. The states secured loans totaling N533.29bn and allocated N658.93bn to debt servicing but failed to meet their internally generated revenue (IGR) targets. They generated … Read more
The Lagos House of Assembly passed a budget of N1.768 trillion for the state on December 12, 2022. The budget, which covers the 2023 fiscal year, has a capital expenditure of N1.019 trillion, representing 58 per cent of the 2023 budget. The recurrent expenditure, representing 42 per cent, is N748 billion. Eko Hot Blog reports … Read more
Lagos Assembly Passes N1.7tn Budget For 2022 EKO HOT BLOG reports that the Lagos State House of Assembly on Wednesday evening passed the year 2022 budget estimate with a slight increase of the grand total from the initial N1.38 trillion to N1.758 trillion. The budget was passed at a sitting presided over by the Speaker … Read more