The 2016 report came with damning findings against the government and its agencies, including the National Assembly. It showed lapses, serial violations of fiscal laws, government’s poor handling of the situation, and the involvement of nearly all agencies. Despite this, none of the state actors seems concerned about the
World Bank’s Senior Economist, Yue Man Lee, Wednesday raised the alarm that the fiscal capacity of the 36 states of the federation and the Federal Capital Territory (FCT) has declined while their fiscal sustainability risks have also increased.
While pointing out that the states’ revenues have largely underperformed, she stressed that the recent growth in non-oil revenues particularly Value Added Tax (VAT) was not enough to offset the drop in statutory transfers.
This is coming as a new report has revealed that only Lagos, Rivers and Akwa Ibom …
