List of Top 6 States that Can Confidently Survive without Any Federal Allocation allocation. -GCFRNG

List of Top 6 States that Can Confidently Survive without Any Federal Allocation allocation. -GCFRNG

The Annual State Viability Index (ASVI) published by Economic Confidential has revealed that some Nigerian states can survive without the monthly federal allocations.

According to The Cable, the ASVI measured the states’ viability index using each state’s internally generated revenue (IGR) as a percentage of its federal account allocation for the year.

Legit.ng collects that states with an IGR of less than 10% of their total revenue from federal appropriations are considered insolvent. Listed below are states that can survive without a federal allocation:

Lagos

Rivers

Ogun

Kaduna

Oyo

Anambra

According to the report, the states listed here can survive without federal allocation because they generate high incomes locally.

For example, Lagos in 2020 raised a federal allocation of N299 billion but generated N418 billion locally (139%)

Additionally, Rivers State, which generated an IGR of N117 billion, raised N198 billion as a federal allocation ( 58%).

As for Ogun, the Southwestern state made N50 billion IGR compared to the federal allocation of N88 billion (57%) it received.

The state of Kaduna generated N50 billion locally while its federal allocation was N124 billion (40%).

Oyo State with an IGR of N38 billion earned N127 billion as federal allocation (29.7%)

While Anambra generated N28 billion compared to its federal allocation of N94 billion (29.6%).

Gcfrng.com had previously also listed states that cannot survive without a federal allocation, according to the ASVI. 36 state governors fight FG in the Supreme Court Meanwhile, all 36 state governments have sued the federal government for stamp duty revenues collected between 2015 and 2020, which they estimated at 170 billion naira.

State governments demanded a refund of the profits in a lawsuit filed in the Supreme Court on Thursday, September 9.

The states, through their attorneys general, asked the supreme court to determine whether or not they are the only authority to administer and collect stamp duties. within their respective states.

In another report, the Nigerian Railways Corporation (NRC) earned N1.08 billion in three months as more Nigerians turn to rail transportation amid increasing security in the country.

The amount was generated in the second quarter, which falls between April and June. During this period, the NRC registered a total number of 565,385 passengers.

It was collected that the increase in rail traffic increased by 422.3% when comparing the second quarter of both last year (108,238 passengers) and 2021; this means that 457,147 passengers switched to rail transport in one year.

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List of Top 6 States that Can Confidently Survive without Any Federal Allocation allocation. -GCFRNG

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