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2025: Nigerian States Fail To Achieve 60% Budget Execution In 2024

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A recent review of budget performance across Nigerian states has revealed that none managed to exceed a 60% execution rate between January and September 2024.

The underwhelming performance raises concerns about the states’ readiness to handle the ambitious budgets they have planned for the 2025 fiscal year.

From Katsina to Akwa Ibom, states struggled to meet their budget targets, with execution rates ranging from 26.9% to 55.1%.

The review highlights inefficiencies in fiscal planning, low internal revenue generation, and a reliance on federal allocations and borrowing.

READ ALSO: Archbishop Martins Champions Clamour For Better Life For Nigerians

Katsina State: Allocated N481.7 billion for 2024 but spent just N216.4 billion, representing 44.9% budget performance.

The state recorded an internally generated revenue (IGR) of N29.9 billion.

Jigawa State: With a budget of N383.5 billion, the state spent N174.8 billion (45.6%) and generated N18.4 billion internally.

Niger State: Budget execution stood at 30.4%, with N252.2 billion spent out of N829.4 billion. IGR was N29.2 billion, representing just 3.5% of the budget.

Abia State: Achieved 30.3% performance, spending N171.8 billion of its N567.2 billion budget, with IGR at N22.1 billion.

Anambra State: Spent N132.5 billion out of N410.3 billion (32.3%) and generated N28.2 billion internally.

Ondo State: Executed 52.3% of its N395.2 billion budget, spending N206.6 billion, with IGR at N24.4 billion.

Oyo State: Spent N210.9 billion out of N438.4 billion (48.1%), recording the highest IGR among reviewed states at N45.7 billion.

Bauchi State: Achieved 51.4% budget performance, spending N202.9 billion of its N394.8 billion allocation, while generating N15.9 billion internally.

Zamfara State: Executed 34.2% of its N426.5 billion budget, spending N145.8 billion, with IGR at N18.4 billion.

Adamawa State: Spent N154.8 billion out of N281.1 billion (55.1%) but generated only N9.1 billion internally.

Akwa Ibom: Recorded the lowest budget performance at 26.9%, spending N228.7 billion of its N849.9 billion budget. IGR stood at N41.4 billion.

Niger State’s fiscal performance stands out as a worrying case. Despite budgeting N829.4 billion for 2024, the state spent only N252.2 billion, relying heavily on federal allocations (N182 billion) and loans (N79 billion, covering 31.3% of expenditures). The state generated just N29.2 billion internally.

As Niger State plans to increase its budget to N1.5 trillion in 2025—a 48.3% rise from 2024—questions are being raised about its ability to finance such a massive appropriation.

Governor Mohammed Umaru Bago recently defended the state’s financial approach, claiming a 68.88% budget performance for 2024.

However, analysts have pointed out discrepancies in the state’s fiscal records.

“The numbers don’t add up,” said one analyst. “If Niger State relied on internally generated revenue alone, it would have achieved only 3.5% of its 2024 budget. The reliance on loans and federal allocations is unsustainable.”

The state’s fiscal challenges are not new. In 2023, Niger budgeted N473 billion but spent only N190.9 billion (40.3%).

It generated N18 billion internally, received N92.6 billion from the federation account, and borrowed N90 billion to bridge the gap.

The inability of states to execute their 2024 budgets effectively has raised doubts about their capacity to manage even larger budgets in 2025.

Fiscal experts are calling for a reassessment of budget planning and implementation processes to avoid deepening financial crises.

“There’s an urgent need for states to improve revenue generation and reduce dependence on loans,” said another expert. “Without these measures, achieving fiscal sustainability will remain a mirage.”

 

 

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ADF Flags Off N16Bn 2025 National Food Intervention Programme

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Dangote Tackle forex shortage with sugar

 

Over one million Nigerians nationwide will receive a 10kg bag of rice each, with the Aliko Dangote Foundation (ADF) distributing the staple food as part of the 2025 Annual National Food Intervention Project.

The initiative, which commenced on Thursday would is estimated at a whooping cost of N16 billion.

During the flag-off of the nationwide distribution in Kano, Chairman of the Foundation, Alh Aliko Dangote, said the distribution of one million bags of 10kg rice to the poor and vulnerable Nigerians in the 774 Local Government Areas (LGA) in Nigeria was in line with the core values of his businesses and the ADF.

Dangote, who was represented by his daughter, Mariam Aliko Dangote said, “This annual initiative, which embodies compassion, solidarity, and shared responsibility, is part of our response to the current economic challenges facing our nation. It reflects our commitment to supporting our communities in line with our core values.”

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He highlighted that the Foundation was kicking off the distribution in Kano State, after which it will proceed to other states, assuring that all arrangements are in place to ensure the food reaches those who need it most in all the LGAs of Nigeria.

Dangote, reputed to be Africa’s wealthiest person opined that food remains a basic human necessity, and this is why the ADF adopted the practice of embarking on a food distribution programme across Nigeria.

“We are collaborating with state governments to ensure that the food reaches the most vulnerable individuals in each state,” he added.

According to Dangote the ADF focuses on improving the living conditions of Nigerians through support for projects which tackle hunger and water supply problems, strengthen the quality and scope of health and education, and promote economic empowerment at the community level.

“Your excellency, I believe that today’s event will help in tackling hunger and helping the most vulnerable people in breaking their fast. We are playing our role in enhancing the living conditions of our people. I urge other industrialists and firms to lend a helping hand in combating hunger through programmes and initiatives that will place food on the tables of vulnerable Nigerians. This job should not be left to the government alone, rather we need a public private partnership that will help us in fighting the scourge.

“I commend the government at all levels for their efforts at addressing the food crisis. I am certain that with time, we shall overcome these challenges, therefore let us support the government to achieve its target of a better life for Nigerians, “he said.

On his part, Kano State Governor, Abba K. Yusuf, who flagged off the National Food Intervention Programme commended the good gesture and said the intervention reflects the unwavering commitment of Alh Dangote in addressing poverty and hunger in Nigeria.

The Governor, who was represented by his Deputy, Comrade Aminu Abdulsalam Gworzo said 120,000 bags of 10kg rice will be distributed across the 44 Local Government Areas of the state.

He described Alh Dangote as humane, adding that: “A similar event took place last year where he personally oversaw the distribution of food stuff to the poor in this very arena.”

To ensure transparency in the distribution process, he said the state government has set up a committee comprising of relevant ministries, CSOs, religious leaders, departments and agencies, local authorities, the Hisbah Board and security agencies.

Managing Director and Chief Executive Officer of the Aliko Dangote Foundation, Zouera Youssoufou, said the Annual National Food Intervention Project is a way of giving back, and supporting governments in fighting poverty and hunger in Nigeria.

She said that Alh Dangote is passionate about philanthropy and committed to ensuring that hunger is wiped out or reduced to the minimum in Nigeria.

“We are going to other states to distribute the products, but we’ve just flagged off in Kano,” she told newsmen on the sideline of the Kano Government House, venue of the flag off.

The Deputy Commander-General of Hisbah Board in Kano, Dr. Mujahid Aminudeen, thanked the ADF for the initiative, urging more Nigerians to emulate Alh Dangote in the humanitarian cause.

He said the Hisbah Board will ensure that the products reach the targeted beneficiaries.

One of the beneficiaries, Ibrahim Ahmed, speaking on behalf of others thanked Alh Dangote for his large heart saying the gift would go a long way in reducing food pressures on them especially during the Ramadan while also praying God to continue to help him in his businesses.

Recall that the ADF has been at the forefront of tackling and ameliorating the impact of natural disasters and health challenges in Nigeria and the rest of the world.

The ADF donated N153million to boost Nigeria’s fight against Ebola Virus Disease in 2014, $3million to the African Union (AU) to help combat the scourge, and N66.66 million to install thermal scanning systems and cameras at Nigeria’s 4 international airports.

During the COVID-19 pandemic, we donated N2billion to the CACOVID Fund, a Private Sector task force in partnership with the Federal Government, the Nigeria Centre for Disease Control (NCDC) and the World Health Organisation (WHO) with the sole aim of combating Coronavirus (COVID-19) in Nigeria.

In support for education, we donated a N1.2bn modern business school edifice to the Bayero University, Kano, a fully equipped 2,160-bed capacity hostel complex to the Ahmadu Bello University, Zaria and a N300 million building to University of Ibadan Business School.

Beyond the shores of Nigeria, the ADF has also recorded milestones with a donation of $1million, to lift victims of two earthquakes that devastated Nepal.

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Lawmakers Call For Immediate Reversal Of ATM Fee Increase

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CBN Pegs Interest Rate at 14%

The Central Bank of Nigeria (CBN) is under pressure to suspend its recently introduced increase in Automated Teller Machine (ATM) transaction charges due to the country’s worsening economic conditions.

During Tuesday’s plenary session, Marcus Onobun, a lawmaker representing Esan Central/Esan West/Igueben Federal Constituency in Edo State, raised concerns over the policy through a motion of urgent public importance.

He noted that the CBN’s directive not only increases withdrawal fees but also removes free ATM transactions for customers using other banks’ machines, adding to the financial strain on Nigerians.

SEE ALSO: Direct CBN To Suspend ATM Fee Hike Pending Court Verdict, SERAP Tells Tinubu

According to the new regulations, customers withdrawing from their own bank’s ATMs will still enjoy free withdrawals.

However, those using other banks’ ATMs will now be charged N100 for withdrawals of N20,000 within a bank’s premises. At off-site ATMs, such as those in shopping malls or markets, the charge remains N100, but with an added N500 surcharge.

Onobun, a member of the Peoples Democratic Party (PDP), argued that Nigerians are already struggling with economic difficulties, including high inflation, rising fuel costs, increased electricity tariffs, and multiple banking fees.

He warned that the additional charges could further discourage financial inclusion, particularly among low-income earners, contradicting the CBN’s own agenda.

“The banking sector continues to record significant profits, yet customers are being burdened with more charges without any improvement in service delivery or infrastructure. This is unfair and unacceptable,” he stated.

Following his motion, Speaker Tajudeen Abbas put the matter to a voice vote, and lawmakers overwhelmingly supported it.

As a result, the House of Representatives called on the CBN to immediately halt the implementation of the policy until further consultations are held with relevant banking and finance committees.

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NNPC Ltd Clarifies Naira-Crude Contract With Dangote Refinery

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The Nigerian National Petroleum Company Limited (NNPC Ltd) is already emplacing an new naira for crude contract with the Dangote Petroleum Refinery and Petrochemicals, because the initial contract was for six months which expired in March 2025.

This clarification was made in a statement in Abuja by the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye on Monday.

ALSO READ: Naira-For-Crude Policy Still-In-Force – Chairman, Technical Sub-Committee

According to Soneye, the NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd. and Dangote Refinery.

To clarify, the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. Discussions are currently ongoing towards emplacing a new contract.

Under this arrangement, NNPC Ltd. has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, NNPC Ltd. has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.

NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.

 

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