Three days ago, Nigeria's budget-monitoring tech organization, BudgIT, released a detailed document on the states of Nigeria; their economic situations, debt burdens, budget-funding capabilities, internally generated revenue ratings and financial sustainability.
This move is part of a greater plan to engender transparency in our budgets, as well as demand better accountability from our various state governors across the federation.

The document had some revealing details, some shocking details, as well as some downright damning ones. I guess reality is truly different from state-sponsored propaganda and social media rhetoric.

[size=14pt]Ability Of States To Meet Recurrent Expenditure[/size]
In this category, the states are ranked by the figures realized after subtracting the total monthly salaries paid by the states from their monthly income. The states in red are states whose monthly incomes are unable to meet up with the monthly wage bill. In other words, states that are unable to pay their salaries without having to borrow. States in green, on the other hand, are states whose monthly incomes are enough to adequately pay salaries and still have some leftovers for other engagements.
This is the table:


From the table above it can be deduced that Lagos, Rivers, Delta, Katsina and Enugu are the top 5 states with the highest leftover cash even after meeting monthly obligations; while Osun, Plateau, Ogun, Nasarawa and Oyo are the bottom 5 states as well as the states with the greatest inability to meet monthly payments without having to borrow.
Perhaps interesting to note, is the fact that Osun state's monthly shortfall is larger than the monthly shortfalls of Ekiti, Bauchi, Abia, Kaduna, Zamfara, Imo and Gombe, combined.

On a region-by-region basis, it can also be deduced that:

1. In the South-South, all other states are green except Bayelsa and Akwa Ibom.

2. In the South-East, Enugu, Ebonyi and Anambra are able to meet recurrent obligations, but Imo and Abia are unable to.

3. In the South-West, Lagos is the only state currently meeting its recurrent obligations while all other sister states, Ekiti, Ondo, Oyo, Ogun and Osun, are unable to.

4. Taraba and Yobe are the only North-Eastern states without monthly shortfalls

5. Niger, Benue and Kogi are the only North-Central states currently without shortfalls.

6. Zamfara and Kaduna are the only North-West states with shortfalls.


[size=14pt]Internally Generated Revenue[/size]
This was published a few weeks ago, but republished three days ago...






[size=14pt]Ranking Of States By Debt[/size]





And finally...


[size=14pt]State Sustainability Index[/size]

BudgIT published the final info known as "State Sustainability Index". This is the rating of the states by their financial sustainability. It factors in the state's IGR, as well as its total debt stocks, AND recurrent expenditure before arriving at its final figures.
This is the standard formula used in calculating state sustainability index:



Using the formula above with IGR's and debt stocks previously posted, below is the ranking of the states by their sustainability indices:



From the table above, it can be deduced that Rivers State, with its high IGR and relatively low debt, is Nigeria's most sustainable state, with Lagos, Enugu, Delta and Katsina all trailing in that order to make up Nigeria's top 5 most sustainable states.

Counting from the bottom, on the other hand, Plateau, Osun, Nasarawa, Borno and Ekiti are ranked as Nigeria's least sustainable states, with their low IGRs and inexplicably high debts.

On a personal region-by-region ranking (gotten by adding all the indices for every state in each region and dividing by the number of states in said region), the South-South is by far Nigeria's most sustainable region with a cumulative average sustainability index of 8.27

Coming a very distant second is the South-East with an index of 6.43

In third place is the North-West with an index of approximately 5.45

Number 4 is the South-West with 5.43

Coming fifth place with an index of 4.39, is the North-Central

And scraping the bottom of the barrel at last place, is the insurgency-torn North-East with an index of 3.97

Download the PDF here: http://www.yourbudgit.com/wp-content/uploads/2015/11/THE-FATE-OF-STATES-Final.pdf

Wonderful Research!

So SW with all the sophistication even trailed behind SE the acclaimed "erosion and landlocked region".

The SS should ordinarily be leading in all ratings, considering the high allocation from Abuja per month.

On Imo and Abia states are disappointing big time.

Thank God Ebonyi has left Ekiti, Osun and other God for sakened states in the poverty par. Godwin#

Ebonyi state will have a league of her own if all the mineral resources in that state are utilised and used for job creation.

lmao!!! shame no go gree the sophisticated mugus show face for here
I swear they just have to keep thanking their stars for lagos, coz that's their only saving grace, if not, these people wud be rubbing shoulders with MOGADISHU.
even with lagos, they still reek of mediocrity.
now imagine life without it.

In third place is the North-West with an index of approximately 5.45

Number 4 is the South-West with 5.43

Very revealing.

Ugomba:
Wonderful Research!

I need omo yorubbers here

NoreenUG:
lmao!!! shame no go gree the sophisticated mugus show face for here
I swear they just have to keep thanking their stars for lagos, coz that's their only saving grace, if not, these people wud be rubbing shoulders with MOGADISHU.
even with lagos, they still reek of mediocrity.
now imagine life without it.

Oboy you wicked

Aresa come see your great oni gbesse osun state

.SW recurring expenditure is just too high.They need to cut down their CivilServants Workforce

Very interesting!.

[size=18pt]Blame Southwest APC for naira crash and impending depression[/size]
I made this post in another thread and I think it makes for good discussion.

I blame squarely the unhindered borrowing by APC southwest states on the crash of the Naira.

PvtParts2:
The only solution Buhari and the APC will sell to you is an IMF loan.

Rather than look at ways to promote local production to prevent wastage of our low forex reserves this administration will borrow to pay the rent on importing finished goods.

To show the total lack of sincerity by the APC led government, Buhari dipped into our low forex reserves to bailout States that are seriously indebt due to the ineptitude and corrupt ways of their respective governors.

This same debts where sourced from banks and the states are poised to default sooner or later. Remember that the liquidity taken out of circulation in granting this debt facility to states with nothing to show for ought to have been made available to genuine small and medium businesses to promote real growth! The rescheduling of the debt repayments was also outlined as one of the measures to help the states out. Now this means that lending interests rates will surely soar.But by far the most stupid thing about this bailout is that after dipping into our forex reserves to bail the states the CBN can not meet up with forex demands thereby putting more pressure on the naira which inevitably has since seen inflation rates soar.

This is change for you!

WEMA Bank has since suspended consumer loans to it's customers. WEMA bank is one of many banks being owed by states like Osun.

The unchecked borrowing and inability to repay on their commitments is also threatening the very existence of banks like WEMA.

Where r d sophisticated liars? Da Propaganda of a tribe? They should come n masturb8 on ds thread.

jstbeinhonest:
I dont belive this report.Kogi can NEVER be more viable than Oyo.

Kogi is already..
You people are poor poorer poorest.
Na una carryam for head dey waka ;DD

You no get shame you wan compare Oyo to kogi...

jstbeinhonest:
I dont belive this report.Kogi can NEVER be more viable than Oyo.

Kogi being as useless as any state can be is still far better than all Southwest states apart from Lagos.

Your Odenni Rauf himself aregberascal the Ooni Gbese champion declared shamelessly that the refusal of banks to loan him more money is why osunites can't have good things


www.nairaland.com/attachments/2643046_loans_jpeg6b38b8744c8ccbfcff622f32ab8797cf

Yerribas...

The most sufferisticated. Lmao

Nah dem Carry last for Nigeria....

wow

NOBLEDANDY:


Kogi is already..
You people are poor poorer poorest.
Na una carryam for head dey waka ;DD

You no get shame you wan compare Oyo to kogi...

On all pars Kogi is richer than all Southwest states combined.

Kogi problem nah too much ebira winch

the facts before me, show that both PDP and APC governors failed in the last administration.they shld be given a combined sentence to jail. concurrently (all of u go to jail). no current governor is finding his work easy. kill them all (spartacus)

.

jstbeinhonest:
I dont belive this report.Kogi can NEVER be more viable than Oyo.

^^^Hehehehe

Reminds me of the kids bedtime story of the race between the cocky and confident Hare and the slow but cunning Tortoise! Guess who won?

The suffersicated proud lizards have been borrowing left right and centre against oil receipts from the Niger Delta.

These people are parasites.

At least we get onions and beef from the north plus cheap labor.


What does the suffersicated proud lizards have to offer but debt?

NOBLEDANDY:


Kogi is already..
You people are poor poorer poorest.
Na una carryam for head dey waka ;DD

You no get shame you wan compare Oyo to kogi...

Yorubas can never be poorer than ibos,I dare you to post a link to support your claim.

Okwa ina afu?

And people ask us how we are going to sustain Biafra.

This is really serious

If not for Lagos, the whole Yoruba states will be akin to Somalia cum Mozambique

What a wonderful report!
Watch as the brownies switch to their alternate monikers to post on this thread. Born cowards

Lagosians are in a big mess with a debt of over 500bn.
APC is a fraud

Do we still need any prophet to tell who trully developed Lagos? if not for lagos which is the product of non yorubas they would have been worse than NE. Data like this put them to shame not all these yeye heresay they ignorantly peddle. No wonder Biafra scare the hell out of them