In the third quarter (Q3) of 2024, Delta, Rivers, and Lagos topped the list of states with the highest expenditure. Out of the 31 states that released budget performance reports, a total of N7.07 trillion was spent collectively in the first nine months of the year.
47 percent of this expenditure, amounting to N3.3 trillion, went towards recurrent costs, including personnel and overhead expenses. The remaining 53 percent, totaling N3.8 trillion, was allocated to capital expenditure for fixed assets.
Below is a breakdown of the top 10 state governments with the highest expenditures during this period:
1. Lagos State – N1.34 trillion
Lagos State spent N1.34 trillion, with capital expenditure at N770 billion and recurrent expenditure at N566.6 billion. The state generated a total revenue of N1.49 trillion.
2. Rivers State – N529.8 billion
Rivers State spent N529.8 billion, with capital expenditure at N343.7 billion and recurrent expenditure at N186.1 billion. The state recorded a revenue of N720.2 billion.
3. Delta State – N451 billion
Delta State spent N451 billion, with capital expenditure at N237.1 billion and recurrent expenditure at N213.9 billion. The state generated a revenue of N819.7 billion.
4. Edo State – N303.3 billion
Edo State’s expenditure was N303.3 billion, with capital expenditure at N176 billion and recurrent expenditure at N127.3 billion. The state recorded a revenue of N317.8 billion.
5. Niger State – N252.3 billion
Niger State spent N252.3 billion, with capital expenditure being the bulk of the expenditure at N172 billion. The state recorded a revenue of N295.3 billion.
6. Akwa Ibom State – N228.8 billion
Akwa Ibom State expended N228.8 billion, with capital expenditure at N83.1 billion and recurrent expenditure at N145.7 billion.
7. Katsina State – N216.4 billion
Katsina State reported an expenditure of N216.4 billion, with capital expenditure at N139.5 billion and recurrent expenditure at N76.7 billion. The state generated revenue of N394.7 billion.
8. Imo State – N214.9 billion
Imo State’s expenditure was N214.9 billion, with capital spending at N138.8 billion and recurrent expenditure at N76.1 billion. The state generated revenue of N218.4 billion.
9. Oyo State – N210.9 billion
Oyo State expended N210.9 billion, with capital expenditure at N88.1 billion and recurrent expenditure at N122.8 billion. The state generated a total revenue of N342.9 billion.
10. Enugu State – N207.8 billion
Enugu State spent N207.8 billion, with capital expenditure at N163.6 billion and recurrent expenditure at N44.2 billion. The state generated revenue of N238.9 billion.
These figures highlight the significant expenditures made by different states during the first nine months of 2024.
Source link