The Bayelsa government has dismissed the 2022 fiscal sustainability report on Nigerian states released by BudgiT, a public finance transparency-focused civil society organisation.
The News Agency of Nigeria reports that Rivers tops the 2022 fiscal performance ranking, followed by Kaduna and Cross River, while Yobe, Bayelsa and Benue sit at the bottom of the table.
“As before, the current report erroneously depended on opaque data and criteria bordering largely on the ability of a state to meet its operating expenses with only its Internally Generated Revenue. He maintained that it was incomprehensible not to appreciate that oil and gas had produced at a significant opportunity cost to states and that the derivation revenue compensated for such brutal environmental degradation.
Ebibai noted that it was also disturbing that a state with a low debt profile that was effectively managing its financial liabilities would be ranked low against states with a higher debt profile, more so when Bayelsa was clearing its debts. Ebibai noted that states with limited federal presence were inherently disadvantaged with the ranking methodology where facilities such as ports give a clear edge to some states.
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