News

Lagos, Ogun Nigeria’s Most Economically Viable States – Report

Published

10 months ago

December 21, 2023

admin

Apart from Lagos, Nigeria’s economic capital, Ogun State is Nigeria’s most economically viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has shown.

Pointing to Ogun State’s status as Nigeria’s topmost investment destination after Lagos, the report showed that the Dapo Abiodun-led Ogun State outperformed Rivers State, which joined Lagos and Ogun on the list of economically viable states for the year 2022, along with Kaduna, Kwara, Oyo and Edo states.

The report compiled from figures released by the Nigerian Bureau of Statistics (NBS) and the Federal Account Allocation Committee (FAAC) showed that while Lagos received the sum of N370, 921, 413, 425.62 from the Federation Account and generated N651,145, 633.085 as internally generated revenue, Ogun, on the other hand, received N113,404, 027,439.22 from the Federation Account and generated N120,548, 157,140.78 internally.

On the other hand, Rivers State received N363.4bn from the Federation Account and generated N172bn; Kaduna received N155bn and generated N58bn; Kwara received N99bn and generated N35.7bn; Oyo received N181bn and generated N62bn, while Edo received N147bn in federal allocation and generated N47.4bn.

The results were made known during the presentation of the 2022 Annual States Viability Index Report in Abuja on Monday, showing that the total Internally Generated Revenue of N1.5trn from the seven most viable states in 2022, was almost twice the total IGR of 29 states together that merely generated about N650bn.

Six states, however, including Bayelsa, Akwa Ibom, and Katsina states, failed to generate up to 10% of the total allocations received from the Federal Government for 2022 and were declared insolvent states.

The six states that may not survive without the Federation Account due to their extremely poor internal revenue generation of less than 10% compared to their federal allocations are Bayelsa, Katsina and Akwa Ibom, with Bayelsa bottom of the list with N273bn federal allocation and only N15.9bn IGR, representing 5.81% of the allocations.

Kebbi State with N119bn FAAC allocation and N9bn IGR (7.67%) joins Katsina (N165bn FAAC allocation and N13bn IGR, (7.90%) on the list of economically unviable states, along with Akwa Ibom, which received N360bn and generated N34.8bn (9.66%); Taraba, which received N103bn and generated N10.2bn (9.91%); and Yobe, which received N105bn and generated N10.4bn (9.91%).

The poorly performing states were unable to attract investments due to socio-political and economic crises, including insurgency, kidnapping, armed banditry, and herdsmen-farmers clashes.

Related Topics:Lagos Ogun Nigeria’s Most Economically Viable States – Report

Up Next

Ogun arrest over 200 GBV offenders in 2023 – Commissioner

Don't Miss

OGHA Deputy Minority Leader Kick-starts Agricultural Training, Empowerment For Constituents January

Click to comment

News

Ogun Police Launches Manhunt for APC Councillor Killers

Published

2 days ago

October 13, 2024

admin

Police say they have launched a manhunt for the killers of an APC councillorship candidate, in the Ogun state November 16 local government poll.
The candidate, Adeyemi Adeleke was shot dead on Saturday afternoon at Jide Jones axis of Oke Ilewo, Abeokuta, the state capital.
His assassins shot him at a close range and smashed his head to ensure he was dead before fleeing the scene.
Spokesperson of the state police command, Omolola Odutola said policemen have been deployed to track down the assasins.
Odutola in a telephone conversation said the killers are suspected cultists and were armed with a pump action rifle and a pistol in an unmarked Toyota corrola sport car.
She said police immediately visited the scene after the incident, took photographs, while the family of the late candidate requested to take his body away without a post mortem examination.
The police image maker said police investigations of the incident was underway to arrest the fleeing killers of the candidate.

News

Group Raises Awareness on Gender Violence

Published

2 days ago

October 13, 2024

admin

The centre for community development, family and health initiative has alerted of the rising reported cases of sexual and gender based violence in Ogun state.
The centre chief executive director, Fidelis Olumide Igbodipe issued the alert in Ijebu Ode during the training organized by the centre for media practitioners on sexual and gender based violence over the weekend.
He explained that the training aimed at raising awareness, promote dialogue and advocacy for policy change to tackle sexual and geder based violence (SGBV) in the state.
Igbodipe said the focus of the training was how the media could assist in continuous advocacy, communtiy mobilization and engagement on the issue.
He called for a change in the perception about sexual and reproductive health rights of the people and zero tolerance for SGBV.

News

NDLEA Arrests Drug Kingpin in Abeokuta

Published

2 weeks ago

September 29, 2024

admin

A suspected drug kingpin, Ajiboye Damilare has been arrested by National Drug Law Enforcement Agency (NDLEA) in Abeokuta, the Ogun state capital.
The suspect, according to the anti-narcotic agency, has been on its wanted list for over a year.
He was arrested on Wednesday, last week, in a bank in the city.
Spokesman of the agency, Femi Babafemi, on Sunday said the suspect had been evading arrest since NDLEA operatives raided his warehouse, at Akala Street, Mushin in Lagos on September 4, 2023.
According to Babafemi, a total of one thousand and 101 kilogram of Ghana loud was recovered from the warehouse.
Since then, Babafemi said the directorate of assets and financial investigation of NDLEA which had been tracking him, linked him with 20 bank accounts and blocked them.