How States Radically Spent ₦2.67tr In 2018, By BudgIT
October 24, 2019
4:53 am
States expended a whopping ₦4.319 trillion to fund their operations in the 2018 fiscal year, according to a survey by BudgIT, a fiscal governance organisation.
According to the survey released in Abuja yesterday, of the amount, recurrent spending gulped ₦2.67 trillion, while a paltry ₦1.648 trillion was devoted to capital projects.
Capital projects are supposed to touch the lives of the masses.
The survey also revealed that most of the states were grossly unable to realise their revenue targets, due to grossly inadequate Internally-Generated Revenue (IGR); hence their over-reliance on the Federation Account Allocation Committee (FAAC) takings.
It cited …
