News
Again, Rivers Ranks First In Fiscal Performance
Again, Rivers State Government has retained its overall fiscal performance position for the third consecutive time.
It ranked first in 2020 and 2021 among the 36 states in Nigeria.
Kaduna and Cross River states made it to the top five, Yobe dropped to the bottom five, having fallen 13 places from 21st last year to the 34th position this year.
BudgIT, a civic-tech organisation leading the advocacy for fiscal transparency and accountability, rated Rivers ahead of others in the 2022 edition of its annual State of States report titled: “Sustainable Governance Reforms for a New Era”.
BudgIT’s Research and Policy Advisory Lead, IniobongUsen, said the report, which is BudgIT’s signature analysis, assessed and ranked the fiscal performance of all 36 states, from the most sustainable to the least sustainable.
Usen stated that for the 2022 edition, all 36 states were ranked using five metrics.
Index A examines states’ ability to meet Operating Expenses (Recurrent Expenditure) with only their Internally Generated Revenue; Index A1 looks at the percentage year-on-year growth of each state’s Internally Generated Revenue.
He said: “Index B reviews states’ ability to cover all operating expenses and loan repayment obligations with their Total Revenue (Internally Generated Revenue + Statutory Transfers + Aids and Grants) without resorting to borrowing.
“Index C estimates the debt sustainability of the states using four major indicators: Debt as a percentage of GDP; debt as a percentage of revenue; debt service as a percentage of revenue; and personnel cost as a percentage of revenue.
“Index D evaluates the degree to which each state is prioritising capital expenditure with respect to their operating expenses (recurrent expenditure).”
Commendably, BudgIT noted that cumulative spending on capital expenditure by the 36 states grew by 52.52percent from N1.77trillion in 2020 to N2.70trillion in 2021.
Eight states increased the capital expenditure year-on-year by more than 100per cent, however, just five states, Anambra, Ebonyi, Cross River, Kaduna, Rivers, prioritised capital expenditure over operation expenses, signalling the prioritisation of investments in infrastructure, job creation, and human capital development.
BudgIT narrated that the operating expenses of Yobe and Bayelsa (the least ranked states on Index A) was more than seven times the revenues generated by both states Internally, reinforcing the heavy reliance on federal transfers and budget support to fund their budgets.
On Index A1, save for three states which ranked the least, Anambra, Kogi and Kebbi; 33 states experienced an increase in their IGR from the previous year, with 13 states growing their IGR by more than 50per cent.
Jigawa, Delta, Ebonyi, AkwaIbom and Nasarawa ranked first to fifth respectively on Index C which assessed the debt sustainability of the 36 states.
Cross River, Ogun, Imo, Osun, Plateau were the bottom five states on Index C.
Lagos State, with a capital importation of $31.78billion between 2019 and 2021, received 99.19per cent of the cumulative capital importation for 36 states of the federation.
Interestingly, 11 states received no capital importation between 2019 and 2021.
On debt sustainability, Usen said the cumulative debt stock of the 36 states grew by 8.68per cent from N5.86trillion in 2020 to N6.37trillion in 2021.
A more disaggregated view of the subnational debt shows that 11 states reduced their total debt liability, with Delta State having the most impressive decline of N33.84trillion.
BudgIT noted that Kogi State, with a foreign debt year-on-year growth of N85.65trillion, ranked first among the 17 states that grew foreign debt in 2021.
The four states with the highest dollar-denominated debt ($250 million and above), Lagos, Kaduna, Cross River and Edo, are the most susceptible to exchange rate volatility.
“The cumulative expenditure of the 36 states increased rose by 27per cent (from N5.23trillion in 2020 to N6.64trillion) in 2021. Notwithstanding, while 31 states increased their total expenditure from the previous year, fivestates reduced their expenditure—with Zamfara having the highest decline of 15.59per cent”, the report said.
BudgIT said the cumulative personnel cost of the 36 states grew by 5.38per cent from N1.46trillion in 2020 to N1.54trillion in 2021.
It said nine states reduced their overhead cost from the previous year, signalling a reduction in the cost of governance.
Conversely, 11 states increased their overhead cost from the previous year by more than 40per cent, with AkwaIbom having the highest growth.
Usen added: “On fiscal transparency, the 36 states of the federation currently publish in a timely manner their proposed budgets, approved budgets, budget implementation reports, audited financial statements for both the states and the local governments.
“In the same vein, many states have enacted an Audit Law that grants operational and financial autonomy to the Offices of Auditors-General of the State and Local Governments, thereby empowering their supreme audit institutions to effectively hold governments accountable.
News
We’ll Drive Tinubu’s Vision in Rivers With Vigour – Fubara …Inaugurates Dualized Ahoada/Omoku Road ….Debunks Rift With RSHA
Rivers State Governor, Sir Siminalayi Fubara, has stated that he will lead Rivers people to galvanize support for President Bola Tinubu to drive the vision and objectives of the Renewed Hope Agenda in the State with vigour.
The governor, who joined the ruling All Progressives Congress (APC), on Tuesday, explained that his decision to join the APC was not for personal interest but for the overall benefit of Rivers State.
Fubara disclosed these while inaugurating the extension of the dualized Ahoada/ Omoku Express road in Ahoada East and Ogba Egbema Ndoni Local Government Areas of Rivers State.
He commended the contracting firm, Julius Berger, for timely delivery of the project, saying the project is a campaign promise fulfilled which will bring economic benefits to the people and tackle issues of insecurity associated with the route.
He said his administration has remained focused in delivering democratic dividends in the state despite facing glaring challenges.
The governor thanked the people of Ahoada East and Ogba Egbema Ndoni Local Government Areas for their continuous support, and urged his supporters to remain steadfast and also support President Tinubu who he said, has demonstrated love to Rivers State as a father.
Fubara denied having rift with the Rivers State House of Assembly, stating that his meeting with the lawmakers was stalled as a result of delay in the agreed meeting to be convened by former Governor Nyesom Wike and other stakeholders for him to meet with the state lawmakers.
“I have made every effort to meet with the Assembly members, but it is not within my leadership to initiate the meeting process.
“The arrangement was for my leader, Wike, and the elders led by Anabraba to call for a meeting with the the lawmakers.
“I’m a gentleman and principled. I can’t go behind to call them when we’ve already agreed. Whoever that tell them that I don’t want to meet with them, or I rejected proposal meant for them isn’t saying the truth,” Fubara said.
The Permanent Secretary of the Rivers State Ministry Works, Mr Austin Ezekiel-Hart, who gave the project description, said the delivery of the project was a fulfillment of long time dream by the people of Ahoada East and Ogba Egbema Ndoni Local Government Areas.
He said the road was previously a single lane and has now been dualised to 14.6 meters wide, complete with solar-powered streetlights with drainages.
He said the road significantly would reduce travel time between Ahoada and Omoku while improving economic activity in the region.
In his welcome address, Chairman of Ogba-Egbema-Ndoni Local Government Area, Hon. Chuku Shedrack Ogbogu, described the road as a symbol of unity, oneness, and development, thanking the governor for fulfilling his campaign promises.
On his part, the Managing Director of Julius Berger, Engr. Peer Lusbash, said the project was awarded to his company in 2023 with a completion period of 18 months which was achieved in best quality.
He added that Julius Berger enjoyed a good support from the Fubara administration, and assured to complete all ongoing projects being handled by Julius Berger on specification, especially the Ring Road project which is a legacy project.
News
Fubara Expresses Commitment To Healthcare …As UNICEF Lauds RSG On Health Programmes
Rivers State, Sir Siminialayi Fubara, has reaffirmed his commitment to ensuring good healthcare for the people of Rivers State.
?
?Governor Fubara stated this when he played host to the Country Director of UNICEF, Wafaa Saeed Abdelatef and her management team in Port Harcourt, last Tuesday.
?
?The governor who was represented by the Secretary to the State Government, Dr. Benibo Anabraba, said he would continue to provide the necessary facilities in order to ensure accessible and good health care for all Rivers people.
?
?”We are constructing new zonal hospitals across the State. The Ahoada Zonal hospital will be commissioned in December and others are near completion.
?
?”We are grateful to UNICEF for all they have done and believe we can always work together to care for the vulnerable in the society. We appreciate your physical presence, and believe that your staff working remotely, can also do more virtually. We have a capable Commissioner of Health, Dr. Adaeze Oreh, to help foster our relationship, communication and greater collaboration,” he said.
?
?The Country Director for UNICEF Nigeria, Ms. Wafaa Saeed Abdelatef, assured Governor Fubara of UNICEF’s support to the programmes of the State Government. She appealed that health facilities such as the Oxygen Plant at Eleme Local Government Ares and the New Born Care Units be solarized.
?
?”Be assured that UNICEF will continue to work and support the programmes here in Rivers State. We have seen the Oxygen Plant at Eleme LGA which has been effective because of the Public Private Partnership. We appeal that the plant be solarized.
?
?”I commend your leadership of the State and assure that we are here to support your effort and assure you that you can count on our support and partnership. Rivers State is one of the states we can showcase how things are working so others can learn,” she added.
?
News
Dangote Unveils N100bn Education Fund For Nigerian Students
Chairman of the Dangote Group, Alhaji Aliko Dangote, has announced a N100 billion annual education support programme aimed at keeping financially vulnerable Nigerian students in school.
Speaking at the launch of the national scholarship scheme in Lagos, yesterday, Dangote said too many brilliant young people were being forced out of classrooms because of poverty.
He described education as the “strongest engine of social mobility” and a critical foundation for national development.
The initiative, funded by the Aliko Dangote Foundation, will run for ten years beginning in 2026, costing over N1 trillion in total.
Dangote said the scheme would support 45,000 scholars each year at inception, expanding to 155,000 beneficiaries annually by its fourth year, and maintaining that level for the rest of the decade.
By 2036, he said, the programme is expected to have reached at least 1,325,000 students.
“We cannot allow financial hardship to silence the dreams of our young people, not when the future of our nation depends on their skills, resilience and leadership,” he added.
A major component of the fund is the Aliko Dangote STEM Scholars programme, which will provide annual scholarships for 30,000 undergraduate students pursuing science, technology, engineering and mathematics in public universities and polytechnics.
Each beneficiary will receive tuition support aligned with the fees of their institution and course of study. Dangote said the goal is to expand access to higher education, empower innovation, and give young Nigerians the tools to compete globally.
“STEM drives development. If Nigeria must compete globally, our young minds must have the tools to learn, imagine and innovate,” he said.
-
Politics5 days agoPDP Vows Legal Action Against Rivers Lawmakers Over Defection
-
Sports5 days agoNigeria, Egypt friendly Hold Dec 16
-
Politics5 days agoWhy Reno Omokri Should Be Dropped From Ambassadorial List – Arabambi
-
Sports5 days agoNSC hails S’Eagles Captain Troost-Ekong
-
Politics5 days agoRIVERS PEOPLE REACT AS 17 PDP STATE LAWMAKERS MOVE TO APC
-
Politics5 days agoWithdraw Ambassadorial List, It Lacks Federal Character, Ndume Tells Tinubu
-
Oil & Energy5 days agoNCDMB Unveils $100m Equity Investment Scheme, Says Nigerian Content Hits 61% In 2025 ………As Board Plans Technology Challenge, Research and Development Fair In 2026
-
Sports5 days agoFRSC Wins 2025 Ardova Handball Premier League
