State governors have outlined ambitious plans to boost capital expenditure in states to address the infrastructure deficit in their various domains. The governors have earmarked N17.51tn to fund capital projects in their 2025 budgets.
They had earmarked N11.34tn to fund similar projects in 2024 but could not secure sufficient funds, as the states recorded a deficit of N3.98tn last year.
This indicates that the sub-nationals plan to spend N28.85tn on infrastructure upgrades to boost economic development in two years following the improved revenue allocations from the Federal Government.
Recall that statutory allocations from the Federation Account Allocation Committee to the three tiers of government increased by N4.994tn to N15.12tn within the 12 months of 2024.
The amount indicates an increase of 49.24 per cent from N10.143tn disbursed to meet their obligations in 2023.
An analysis of the monthly communique issued by the committee…
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