A civic group committed to government's financial transparency, BudgIT, has declared that only three Nigerian states can fully finance their recurrent expenditure without allocation from the Federal Government.
According to the report by BudgIT, tagged "State of States 2019", which was released on Wednesday, Lagos was named the number one state with the best fiscal sustainability index, followed by Rivers and Akwa Ibom in second and third position respectively.
The civic group also made a huge discovery in the South-South region where some states, such as Delta, were running huge recurrent expenditure reaching N200 billion while fellow Southern state, Bayelsa, had an astonishing recurrent bill as high as N137 billion.
This was contrary to its size and low population. Other states with higher populations had the lowest recurrent budgets. Some of such budgets include, Ebonyi's N30 billion, Sokoto's N38 billion, Jigawa's N43 billion, and Yobe's N35 billion, among others.
"It is a recurring theme to see states in South-South Nigeria running high recurrent bills, mainly driven by the high revenues earned due to the 13 per cent derivation," the report read.
In its analysis report, BudgIT also secluded Cross River state for having an unreal budget of N1.04 trillion and recurrent spending which is less than N93billion on an annual basis.