29 Governors Spent N2trn on Refreshment, Others in 9 Months, List Emerges

• Latest data has shown that no 29 Nigerian governors spent about N2 trillion in the first three quarters of 2024 on refreshments and other recurrent expenditures
• The January to September 2024 budget implementation data were gathered from their states' websites after the governors started receiving a 40 per cent increase in their federal allocation
• The report indicated that the governors did not meet their target in terms of internally generated revenue and got N533.29 billion in loans, while N658.93 was spent on servicing the loans

No less than 29 governors in Nigeria spent N1.994 trillion on refreshments, travelling, utilities, sitting allowances, and other recurrent expenditures between January and September 2024.

It was also discovered that the governors received N533.29 billion in loans, while N658.93 was spent servicing the loans owned by local, foreign, and multilateral creditors.

IGR: How governors performed in 2024

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The Punch further reported that the governor lagged in their revenue-generating power as they got a total sum of N1.92 in their internally generated revenue against that revenue target of N2.868 trillion. This means they have a deficit of N948.28 billion.

This revelation came following a 40 per cent increase in their state's allocation from the federation account. Of the 36 states, only six did not have the latest January to September budget implementation data. The states are Ogun, Borno, Sokoto, Gombe, Kwara, Kaduna and Kano.

Below is the summary of data gathered from some of the state governors as reported by The Punch:

Alex Otti of Abia State

1. Spent N17.91bn on operating expenses
2. Generated N22.15bn in revenue, missing the N32.14bn target
3. Borrowed N3.901bn and allocated N10.91bn for debt servicing

Ahmadu Fintiri of Adamawa State

1. Spent N41.45bn on recurrent expenditure
2. Earned N9.16bn income out of N22.24bn revenue
3. Borrowed N10bn and paid N22.68bn to service debts

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Governor Umo Eno of Akwa-Ibom State

1. Spent N85.45bn on recurrent expenditure, exceeding revenue by N43.98bn
2. Generated N41.47bn revenue
3. Paid N34.47bn as debt service, with no borrowing

Charles Soludo, Anambra State

1. Generated N28.296bn revenue, surpassing recurrent spending of N12.70bn
2. Spent N4.56bn on debt service, with no borrowing

Bala Mohammed. Bauchi State

1. Spent N99.31bn on operating expenses
2. Collected N15.92bn out of N37.03bn target
3. Borrowed N33.64bn and paid N27.54bn as debt service

Douye Diri, Bayelsa State

1. Generated N57.85bn IGR, exceeding revenue target of N23.87bn
2. Spent N75.23bn on operating costs and N30.54bn on debt service

Benue State, Hyacinth Alia

1. Spent N29.45bn on operating expenses
2. Collected N8.71bn revenue out of N23.91bn target
3. Spent N5.48bn to service previous loans, with no borrowing

Cross River State, Bassey Otu

1. Spent N55.73bn on recurring expenses
2. Collected N32.42bn IGR
3. Borrowed N20.67bn and spent N19.99bn on debt service

Delta State, Oborevwori Sheriff

1. Spent N121.54bn on recurrent expenditure
2. Earned N97.02bn revenue out of N110.3bn target
3. Serviced debt with N55.9bn, with no borrowing

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Ebonyi State, Francis Nwifuru

1. Spent N37.73bn on recurrent expenses
2. Earned N15.67bn revenue
3. Borrowed N15.65bn and spent N8.46bn on debt service

Edo State, Godwin Obaseki

1. Spent N75.78bn on recurrent expenditure
2. Generated N52.68bn revenue
3. Borrowed N12.84bn and spent N27.5bn on debt service

Ekiti State, Biodun Oyebanji

1. Spent N74.73bn on recurrent expenditure
2. Generated N23.16bn revenue
3. Borrowed N11.75bn and spent N12.93bn on debt service

Peter Mbah of Enugu State

1. Spent N10.88bn on operating expenses
2. Collected N39.98bn revenue
3. Borrowed N1.39bn and spent N6.93bn on debt service

Hope Uzodimma of Imo State

1. Spent N42.75bn on operating expenses
2. Collected N15.24bn revenue
3. Spent N15.94bn on debt service, with no borrowing

Umar Namadi of Jigawa State

1. Spent N35.69bn on operating expenses
2. Collected N18.41bn revenue out of N50.65bn target
3. Borrowed N744.75m and spent N2.17bn on debt service

Tinubu's 2025 budget

Legit.ng earlier reported that the President Bola Tinubu-led federal government has proposed a N47.9 trillion budget for 2025 as 2024 approaches its end.

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The 2025 budget was proposed at the FEC meeting on Thursday, November 14, which President Tinubu presided over.

The budget is expected to shape the country's economic trajectory as many Nigerians look forward to relief.

Source: Legit.ng