Friday, January 04, 2019 12.30PM / Ottoabasi Abasiekong for Proshare WebTV
As at Friday 4th January, 2019 we bring to you updates on the 2019 budget proposal of the State Governments across Nigeria. At the moment 33 out of the 36 States of the federation have presented their budgets to the legislature.
Lagos the Highest with N852.3bn
The Lagos State budget earmarked at N852.3bn is the highest so far presented from the 33 states in the federation. It is not surprising as Lagos is Nigeria’s economic capital and the highest revenue earner in terms of IGR(internally generated revenue).
Nassarawa the Lowest with N86.64bn
Nassarawa State budget earmarked at N86.64bn is the lowest that has been presented across the nation. The State is in the North-Central region of Nigeria and is endowed in the area of agriculture, tourism and solid minerals like coal and iron ore.
South-West Zone has Highest Budget Combined
At the moment the South-West region with the following states; Lagos, Ogun, Oyo, Osun, Ondo and Ekiti has the highest budget combined as a geo-political zone.
The South-West budget total is N2.011trn which could be overtaken by the South-South depending on the budget of Cross River state, which at press time is yet to send its 2019 appropriation bill.
North-East Zone has Lowest Budget Combined
The North-East region for now has the lowest budget combined at N676bn with exemption of Adamawa State. In the concluding part of this story the dynamics could change depending on the estimate that Adamawa will present.
3 States Yet to Present
The three States that are yet to present their 2019 budgets are Cross River(South-South), Adamawa(North-East) and Zamfara(North-West). In the second and concluding part of this story, the budgets of the 36 state should be complete providing an opportunity for review.
Source: Proshare Economy