Tag: fiscal management

Abia Budgets N1.016 Trillion, Focus Education, Health, Roads in 2026

Umuahia, Abia State – Governor Alex Otti on Tuesday presented a N1.016 trillion Appropriation Bill for the 2026 fiscal year to the Abia State House of Assembly, describing it as the “Budget of Acceleration and New Possibilities.”

The proposed budget represents a 13 per cent increase over the 2025 appropriation of N750.28 billion and is aimed at fast-tracking infrastructure expansion, enhancing social services, and deepening ongoing reforms across the state.

Of the total outlay, N811.8 billion, or 80 per cent, is earmarked for capital projects, while recurrent expenditure accounts for N204.4 billion, representing 20 per cent of the budget.

Compared with 2025, the capital vote increased by 32 per cent, and recurrent expenditure rose by 33 per cent to support daily operations and new personnel.

Governor Otti highlighted allocations for key sectors, with education receiving N203.2 billion, including N150.4 billion for salaries of at least 15,000 teachers and new school infrastructure.

Plans include constructing 17 model primary and secondary schools, three technical colleges, staff quarters, and over 100 ICT laboratories. Tertiary institutions will receive N52.8 billion for staff salaries and new facilities.

The health sector is set to receive N149.7 billion, representing 15 per cent of the budget, for the acquisition of new equipment at Abia State University Teaching Hospital, Aba, 23 other facilities, and the renovation of seven general hospitals.

Road construction and rehabilitation will take N169.3 billion, or 16.7 per cent of the budget, with priority given to the Umuahia-Ikot Ekpene, Ahiaeke-Okwuta-Bende, and Umuahia-Umueze-Agwu roads.

The transport sector is allocated N11.1 billion, including N6 billion to fund 80 additional electric buses, complete transport terminals, and build bus shelters.

Other allocations include over N229 billion for agriculture, entrepreneurship, youth development, sports, ICT, women’s empowerment, housing, environment, and urban renewal.

Governor Otti projected the state’s internally generated revenue (IGR) to reach N223.4 billion in 2026, up from a target of about N100 billion in 2025.

Recurrent expenses will be fully funded from IGR. Federal allocations are projected at N83.2 billion from FAAC, N67.1 billion from VAT, N26.5 billion from grants, and N168 billion from other federal sources, bringing total revenue to N607.2 billion.

The governor indicated a budget deficit of N409 billion, or 40 per cent of the budget, which will be financed through concessionary loans strictly for capital projects. He stressed that loans would not be used to fund recurrent expenditure.

Governor Otti urged the House to consider and pass the budget, emphasizing its importance in sustaining the state’s development trajectory.

Responding, Speaker Emmanuel Emeruwa noted that the state had inherited a deep fiscal hole in 2023 but praised the administration for restoring stability.

He said the 2026 budget reflects growing responsibilities and expanding development needs and commended the governor for prudent fiscal management.

Emeruwa assured the governor that the House would thoroughly review the estimates and support initiatives that benefit the state.

November 25, 2025
FAAC: FG, States, LGs share N966.110bn July allocation

The Federation Account Allocation Committee (FAAC) has shared a total sum of N966.110 billion July 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.

This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

The N966.110 billion total distributable revenue comprised distributable statutory revenue of N397.419 billion, distributable Value Added Tax (VAT) revenue of N271.947 billion, Electronic Money Transfer Levy (EMTL) revenue of N12.840 billion and Exchange Difference revenue of N283.904 billion.

In July 2023, the total deductions for cost of collection was N62.419 billion and total deductions for savings, transfers, refunds and tax credit cancellation was N717.962 billion.

The balance in the Excess Crude Account (ECA) was $473,754.57

The communiqué stated that from the total distributable revenue of N966.110 billion; the Federal Government received N374.485 billion, the State Governments received N310.670 billion and the Local Government Councils received N229.409 billion. A total sum of N51.545 billion was shared to the relevant States as 13% derivation revenue.

Gross statutory revenue of N1150.424 billion was received for the month of July 2023. This was lower than the sum of N1152.921 billion received in the month of June 2023 by N2.497 billion.

From the N397.419 billion distributable statutory revenue, the Federal Government received N190.489 billion, the State Governments received N96.619 billion and the Local Government Councils received N74.489 billion. The sum of N35.822 billion was shared to the relevant States as 13% derivation revenue.

For the month of July 2023, the gross revenue available from the Value Added Tax (VAT) was N298.789 billion. This was higher than the N293.411 billion available in the month of June 2023 by N5.378 billion.

The Federal Government received N40.792 billion, the State Governments received N135.974 billion and the Local Government Councils received N95.181 billion from the N271.947 billion distributable Value Added Tax (VAT) revenue.

The N12.840 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N1.926 billion, the State Governments received N6.420 billion and the Local Government Councils received N4.494 billion.

From the N283.904 billion Exchange Difference revenue, the Federal Government received N141.278 billion, the State Governments received N71.658 billion, the Local Government Councils received N55.245 billion and the sum of N15.723 billion was shared to the relevant States as 13 percent mineral revenue.

Also, in the month under review, Import and Excise Duties and Electronic Money Transfer Levy (EMTL) increased considerably while Value Added Tax (VAT) increased marginally. Petroleum Profit Tax (PPT), Companies Income Tax (CIT) and Oil and Gas Royalties recorded significant decreases.

August 23, 2023
BugetIT: Gombe earns high ranking in 2023 Fiscal Transparency Report

Gombe State Governor Yahaya Inuwa

Gombe State’s commitment to fiscal transparency and accountability has earned it a significant distinction in the 2023 Fiscal Transparency Index published by BudgetIT, a reputable fiscal policy tracking organization in Nigeria.

The state has been ranked an impressive 6th out of 36 states, with a commendable score of 74/100.

This achievement reflects Gombe State’s dedication to transparent budgeting, procurement practices, and online fiscal reporting.

The report underscores Gombe State’s accomplishments in various key areas, including budget transparency, procurement transparency, the integrity of the state’s website, and fiscal transparency online. Particularly noteworthy is the state’s Medium Term Expenditure Framework (MTEF), which has been recognized as comprehensive and well-structured. The report acknowledges that Gombe State’s approved budget met several stringent criteria, while its e-procurement portal stood out for its accessibility and navigability.

Governor Muhammadu Inuwa Yahaya’s administration has consistently demonstrated its commitment to fiscal transparency and accountability, earning Gombe State esteemed recognition both on a national and international level. Notably, the state recently secured the World Bank’s States Fiscal Transparency, Accountability, and Sustainability (SFTAS) award in multiple categories, a testament to the administration’s impactful efforts in prudent public resource management.

Furthermore, Gombe State achieved a remarkable 7th position in Nigeria and clinched the top spot in the North East sub-region in the Transparency and Integrity Index by the Centre for Fiscal Transparency and Integrity Watch (CETIW). This recognitions affirmed the state’s position as a role model in good governance, financial prudence, and fiscal integrity.

An associate professor and multi-disciplinary researcher, who also serves as the Director-General of Research and Documentation at the Government House, Dr. Mu’azu Shehu explained that based on his close monitoring of national and international open government and development ratings, Gombe State has performed credibly well in fiscal responsibility, transparency, and accountability. He noted that Governor Inuwa Yahaya’s leadership has been pivotal in fostering a culture of good governance and transparency, positioning Gombe State as one of the most transparent and well-governed in the nation.

The remarkable strides taken by Gombe State underscores Governor Inuwa Yahaya’s unwavering commitment to international best practices, as he continues to drive comprehensive reform to enhance the state’s public finance management structure.

August 10, 2023