“Nigeria’s Q1 IGR: 21 States Struggle with Salaries as Lagos Tops with N275.9 Billion IGR”

Date:

State Budget Performance Review Reveals Financial Strain on Salaries

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An analysis of the budget performance reports of Nigeria’s 36 states indicates that twenty-one of them would have faced difficulties paying salaries in the first quarter of 2024 based solely on their internally generated revenue (IGR).

For instance, Kano State generated N9.5 billion in the first quarter but had a personnel cost of N20.4 billion, leaving it short of covering its wage bill with its IGR alone.

Similarly, Kaduna State fell short by N2 billion, with an IGR of N13 billion against a N15 billion salary expense. Oyo, Osun, and Kogi faced similar challenges, with their IGRs unable to meet their personnel costs.

In contrast, some states exceeded their personnel costs with their IGR. For example, Ekiti State earned N10 billion internally with a wage bill of N9.2 billion. Cross Rivers, Edo, Akwa Ibom, Delta, and Lagos also had IGRs surpassing their personnel expenses.

The reliance of states on federal allocation has raised concerns, as experts warn against over-dependence on the federal government’s revenue sharing, which could hinder their development.

The disparities in budget performance highlight the varying financial capacities and challenges faced by different states in Nigeria.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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