L
LequteMan
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Lagos state is the most prepared Nigerian state in readiness for a significant drop in allocation received from the federal government due to the continued drop in oil prices. Internally Generated Revenue accounts for 75% of the state's budget while other states couldn't go more than 30%.
Excerpt from BusinessDay:
Most Nigerian states, except Lagos are ill-prepared to adjust for a prolonged slide in oil prices, the most recent internally generated revenue (IGR) data from the National Bureau of Statistics (NBS) shows.
Lagos State, in South West Nigeria, had internally generated revenues of N384.25 billion, equivalent to 76.9 percent of its 2013 budget of N499.10 billion.
No other state was able to go beyond the 30 percent mark for IGR as a percentage of budgeted expenditure for 2013, the NBS data showed.
Oil revenues account for up to 75 percent of the Federal budget. However, in some states like Zamfara, it goes as high as 97 percent.
#Nigeria #Lagos #oil #BabatundeFashola
Excerpt from BusinessDay:
Most Nigerian states, except Lagos are ill-prepared to adjust for a prolonged slide in oil prices, the most recent internally generated revenue (IGR) data from the National Bureau of Statistics (NBS) shows.
Lagos State, in South West Nigeria, had internally generated revenues of N384.25 billion, equivalent to 76.9 percent of its 2013 budget of N499.10 billion.
No other state was able to go beyond the 30 percent mark for IGR as a percentage of budgeted expenditure for 2013, the NBS data showed.
Oil revenues account for up to 75 percent of the Federal budget. However, in some states like Zamfara, it goes as high as 97 percent.
#Nigeria #Lagos #oil #BabatundeFashola
