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Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] - Politics - Nairaland

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Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Ebullience(m): 5:42pm On May 12
The Economic Confidential on Sunday released its Annual States Viability Index (ASVI) report.

It showed that 17 States are insolvent as their Internally Generated Revenues (IGR) in 2018 were far below 10% of their receipts from the Federation Account Allocations (FAA) in the same year.

The index declared that without the monthly disbursement from the Federation Account Allocation Committee (FAAC), many states remain unviable, and cannot survive without the federally collected revenue, mostly from the oil sector.


The IGR are generated by states through Pay-As-You-Earn Tax (PAYE), Direct Assessment, Road Taxes and revenues from Ministries, Departments and Agencies (MDAs).

The IGR of the 36 states of the federation totalled N1.1 trillion in 2018 as compared to N931 billion in 2018, an increase of N172 billion.

The report further indicates that the IGR of Lagos State of N382bn is higher than that of 30 States put together whose Internally Generated Revenues are extremely low, and poor compared to their allocations from the Federation Account.

Meanwhile, the Federal Capital Territory (FCT) Abuja, which is not a state but the nation’s capital generated N65bn IGR against N29bn it got from the Federation Account in 2018.

Lagos State remained steadfast in its number one position in IGR with a total revenue generation of N382bn compared to FAA of N260bn which translate to 146% in the twelve months of 2018.

It is followed by Ogun State which generated IGR of N84.55bn compared to FAA of N93bn representing 90%; Rivers with N112bn compared to FAA of N237bn representing 47% and Kwara State with a low receipt from the Federation Account has maintained its impressive IGR by generating N23bn compared to FAA of N81bn representing 28%.

Others with impressive IGR include Edo with IGR of N28bn compared to FAA of N112bn representing 25%; Kano generated N44bn compared to FAA of N183bn representing 24%; Enugu with IGR of N22bn compared to FAA of N92bn representing 23%; Ondo with IGR of N24bn compared to FAA of N108bn representing 22.77%; Kaduna with IGR of N29bn compared to FAA of N131bn representing 22.44% while Delta State earned N58bn IGR against FAA of N285bn representing 20%.

The report noted that ten states with impressive IGR generated N808bn in total, while the remaining states merely generated a total of N295bn in 2018.

While the report provides shocking discoveries, the states with less than 10% IGR have remained 17 as in the previous year 2017.

It added: “The poor states may not stay afloat outside the Federation Account Allocation due to socio-political crises including insurgency, kidnapping, armed-banditry and herdsmen-farmer clashes.

“Other states lack foresight in revenue generation drive coupled with arm-chair governance.

“The states that may not survive without the Federation Account due to poor internal revenue generation are Ebonyi which realized a meagre N6.14bn compared to a total of N76bn it received from the Federation Account Allocation (FAA) in 2018 representing about 7.98%; Bayelsa with IGR of N13.6bn compared to FAA of N192bn representing 7.10%; Taraba N5.96bnbn compared to FAA of N88bn representing 6.77%; Adamawa with IGR of N6.2bn compared to N97bn of FAA representing 6.77% and Borno with IGR of N6.52bn compared to N122bn of FAA representing 5.3% within the period under review.


“The major poor internal revenue earners are Katsina which generated N6.9bn compared to FAA of N138bn representing 5.03%; Yobe N4.48bn compared to FAA of N89bn representing 4.86% and lastly Kebbi N4.88bn IGR compared to FAA of N101bn representing 4.88%.”

The Economic Confidential ASVI further showed that only three states in the entire Northern region have IGR above 20% in comparison to their respective allocations from the Federation Account. They are Kwara, Kano and Kaduna States. Meanwhile seven states in the South recorded over 20% IGR in 2018. They are Lagos, Ogun, Rivers, Edo, Enugu, Ondo and Delta States.

The four Southern states with the poorest Internally Generated Revenue of less than 10% compared to their FAA in 2018 are Akwa Ibom, Ekiti, Ebonyi and Bayelsa. Similarly, 13 Northern States have poorest IGR, namely Benue, Nasarawa, Gombe, Zamfara, Niger, Bauchi, Jigawa, Taraba, Adamawa, Borno, Katsina, Yobe and Kebbi States.

https://dailypost.ng/2019/05/12/10-nigerian-states-economically-viable-17-bankrupt-see-details/

10 Likes 3 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Osagyefo98: 5:53pm On May 12
Ok

1 Like

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by HeWrites(m): 8:41pm On May 12
Okay na
Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by BayportalEnt(m): 8:41pm On May 12
With the way states in the SE voted for 1 party I thought the governance in those states were 2nd to none...

63 Likes 6 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by urchman23: 8:41pm On May 12
All na scam, lie, lie.

3 Likes 3 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by HeWrites(m): 8:41pm On May 12
BayportalEnt:
H

Hushpuppy

1 Like

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by meeky007(m): 8:41pm On May 12
so Benue is now a a northern state
Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Obaofusa: 8:41pm On May 12
God bless Niger Delta

3 Likes

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by XTHRONE: 8:42pm On May 12
North is the problem

21 Likes

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by irepnaija4eva(m): 8:43pm On May 12
The four Southern states with the poorest Internally Generated Revenue of less than 10% compared to their FAA in 2018 are Akwa Ibom, Ekiti, Ebonyi and Bayelsa. Similarly, 13 Northern States have poorest IGR, namely Benue, Nasarawa, Gombe, Zamfara, Niger, Bauchi, Jigawa, Taraba, Adamawa, Borno, Katsina, Yobe and Kebbi States.



Ebony state I can relate but AKWA IBOM and BAYELSA shocked

What the hell are they smoking over there

107 Likes 6 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Badonasty(m): 8:43pm On May 12
Ebullience:
The Economic Confidential on Sunday released its Annual States Viability Index (ASVI) report.

It showed that 17 States are insolvent as their Internally Generated Revenues (IGR) in 2018 were far below 10% of their receipts from the Federation Account Allocations (FAA) in the same year.

The index declared that without the monthly disbursement from the Federation Account Allocation Committee (FAAC), many states remain unviable, and cannot survive without the federally collected revenue, mostly from the oil sector.


The IGR are generated by states through Pay-As-You-Earn Tax (PAYE), Direct Assessment, Road Taxes and revenues from Ministries, Departments and Agencies (MDAs).

The IGR of the 36 states of the federation totalled N1.1 trillion in 2018 as compared to N931 billion in 2018, an increase of N172 billion.

The report further indicates that the IGR of Lagos State of N382bn is higher than that of 30 States put together whose Internally Generated Revenues are extremely low, and poor compared to their allocations from the Federation Account.

Meanwhile, the Federal Capital Territory (FCT) Abuja, which is not a state but the nation’s capital generated N65bn IGR against N29bn it got from the Federation Account in 2018.

Lagos State remained steadfast in its number one position in IGR with a total revenue generation of N382bn compared to FAA of N260bn which translate to 146% in the twelve months of 2018.

It is followed by Ogun State which generated IGR of N84.55bn compared to FAA of N93bn representing 90%; Rivers with N112bn compared to FAA of N237bn representing 47% and Kwara State with a low receipt from the Federation Account has maintained its impressive IGR by generating N23bn compared to FAA of N81bn representing 28%.

Others with impressive IGR include Edo with IGR of N28bn compared to FAA of N112bn representing 25%; Kano generated N44bn compared to FAA of N183bn representing 24%; Enugu with IGR of N22bn compared to FAA of N92bn representing 23%; Ondo with IGR of N24bn compared to FAA of N108bn representing 22.77%; Kaduna with IGR of N29bn compared to FAA of N131bn representing 22.44% while Delta State earned N58bn IGR against FAA of N285bn representing 20%.

The report noted that ten states with impressive IGR generated N808bn in total, while the remaining states merely generated a total of N295bn in 2018.

While the report provides shocking discoveries, the states with less than 10% IGR have remained 17 as in the previous year 2017.

It added: “The poor states may not stay afloat outside the Federation Account Allocation due to socio-political crises including insurgency, kidnapping, armed-banditry and herdsmen-farmer clashes.

“Other states lack foresight in revenue generation drive coupled with arm-chair governance.

“The states that may not survive without the Federation Account due to poor internal revenue generation are Ebonyi which realized a meagre N6.14bn compared to a total of N76bn it received from the Federation Account Allocation (FAA) in 2018 representing about 7.98%; Bayelsa with IGR of N13.6bn compared to FAA of N192bn representing 7.10%; Taraba N5.96bnbn compared to FAA of N88bn representing 6.77%; Adamawa with IGR of N6.2bn compared to N97bn of FAA representing 6.77% and Borno with IGR of N6.52bn compared to N122bn of FAA representing 5.3% within the period under review.


“The major poor internal revenue earners are Katsina which generated N6.9bn compared to FAA of N138bn representing 5.03%; Yobe N4.48bn compared to FAA of N89bn representing 4.86% and lastly Kebbi N4.88bn IGR compared to FAA of N101bn representing 4.88%.”

The Economic Confidential ASVI further showed that only three states in the entire Northern region have IGR above 20% in comparison to their respective allocations from the Federation Account. They are Kwara, Kano and Kaduna States. Meanwhile seven states in the South recorded over 20% IGR in 2018. They are Lagos, Ogun, Rivers, Edo, Enugu, Ondo and Delta States.

The four Southern states with the poorest Internally Generated Revenue of less than 10% compared to their FAA in 2018 are Akwa Ibom, Ekiti, Ebonyi and Bayelsa. Similarly, 13 Northern States have poorest IGR, namely Benue, Nasarawa, Gombe, Zamfara, Niger, Bauchi, Jigawa, Taraba, Adamawa, Borno, Katsina, Yobe and Kebbi States.

https://dailypost.ng/2019/05/12/10-nigerian-states-economically-viable-17-bankrupt-see-details/


my state making me proud...I be ọmọ Ogun

18 Likes 3 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Onlinealaba(m): 8:43pm On May 12
We have truly lost it in this country..only 10 states out of 36 states.. North has a close up of 13 states that are economically bankrupt out of the 18 northern state shocked

14 Likes

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by yeman2012(m): 8:43pm On May 12
XTHRONE:
North is the problem
fear north!

10 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by simple250: 8:44pm On May 12
It's better they merge the states instead of wasting federal revenue on them.

39 Likes 6 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by BlackfireX: 8:44pm On May 12
H
Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by israelmao(m): 8:45pm On May 12
We only have mentally unviable and bankrupt governors no single state in Nigeria that is not economically viable.

41 Likes 2 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Arysexy(m): 8:45pm On May 12
North wan die for power but them still poor pass.

Tufiakwaaaaaaaaa! angry

38 Likes 2 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by Sunnymatey(m): 8:46pm On May 12
Tt
Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by ironheart(m): 8:46pm On May 12
Where kogi

6 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by kennydee05(m): 8:46pm On May 12
Even Bayelsa
Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by phantom(m): 8:47pm On May 12
Bayelsa is a disgrace. Anamba, imo and Abia nko? This country needs to be badly restructured and I don't mean by secession of any part YET!
We can start by pushing for removal of certain things from the exclusive list of the federal govt.
Power for example. Once there is deregulation of power, a poor Northern state can borrow money from a bank and build an IPP solely for a massive industrial estate 3 to 5 times the size of trans amadi industrial layout in portharcourt.
Dangote and other manufacturers would fall over themselves to own factories there.
Do you know how much power supply adds to the overhead of a company daily?
Attract businesses to your state. Give them power supply and they WILL GLADLY PAY REASONABLE TAX TO THE STATE.

45 Likes 5 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by czarina(f): 8:47pm On May 12
Not surprised. I knew "our" state would definitely be on the list of the economically viable ones. cool

1 Like 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by dreamwords: 8:47pm On May 12
That list is funny, even a whole akwa ibom, no. 1 in crude reserve

3 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by BlackfireX: 8:47pm On May 12
Where is Anambra position

6 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by PrinceJoeWan(m): 8:48pm On May 12
All I See Is North

7 Likes

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by illiteratepmb: 8:49pm On May 12
Lies
Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by flourishing247: 8:50pm On May 12
Where is Obiano's noisemakers? Seems they are not online today

10 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by kingigwe1: 8:50pm On May 12
Bayelsa poor but na their oil una dey use fund kano which in turn generates internally something while una don scatter Bayelsa land with oil spill yet u Wan them to generate internally. Very useless nation.

All man to your own resources and pay 5% to federal govt.

31 Likes 3 Shares

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by diablos: 8:50pm On May 12
Most of these northern states that contribute nothing to the economy wether in IGR or GDP should be donated to countries like niger republic and Chad. I keep wondering what sokoto, katsina, zamfara, borno and a bunch of other parasitic northern states contribute to the growth of Nigeria.

17 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by tunjijones(m): 8:51pm On May 12
Most of the governors don't have ideas on how to generate money for their states. They only knw how to come to abj go share money...

4 Likes 1 Share

Re: Only 10 Nigerian States Economically Viable, 17 Bankrupt [see Details] by chuckdelis: 8:51pm On May 12
North and poverty

5 Likes 1 Share

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