States, FCT to spend over N11.5tr in 2023

The 36 state governments and the Federal Capital Territory have proposed to spend over N11.5trn in the 2023 financial year, an analysis by the Daily Trust has shown. The breakdown indicated that N6.482trn will be spent on capital projects while N4.989trn…

Besides relying on federal allocations and their internally generated revenue to fund their projects, many of them rely on loans to finance their activities.At present, many of the states are already heavily indebted even as experts have called for caution on the grounds that being election year, governors, especially those rounding off their tenures must not procure loans for political purposes only to leave the liability for those taking over from them.

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Daily Trust /  🏆 13. in NG

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