In August, the federal, state, and local governments shared N1.26 trillion from the Federation Account Allocation Committee (FAAC), the highest in our history. In July, they shared N966 billion, and from June till date, FAAC has distributed almost N3 trillion. By Nigerian standards, this can be described as jumbo allocations. Compared to many West African […]
In August, the federal, state, and local governments shared N1.26 trillion from the Federation Account Allocation Committee , the highest in our history. In July, they shared N966 billion, and from June till date, FAAC has distributed almost N3 trillion. By Nigerian standards, this can be described as jumbo allocations. Compared to many West African states’ revenue, the allocation to many states surpasses their annual budget.
We may be deceiving ourselves if we think that physical resource increase will automatically translate to increased public goods and services by the various states and local governments. History does not support this thinking. We have seen the contrary, where more resources translate to more opportunities for squandering resources with impunity. This sudden revenue flow can create a significant appetite for corruption or mismanagement without institutional control and checks.
Many extrapolated states and LGAs will publish details of all they receive monthly and their expenditure profile by now. But that is not the case. State revenue and expenditure are still shrouded in secrecy. Only 10 of 36 states have their detailed budget on their website, another measure of transparency. None has its budget performance report on the state website. Less than 20 states publish their audited annual financial statements.
We need to strengthen the existing infrastructure of accountability and transparency in the state. The quality of most state legislature could be better. This is because the executive arm has hijacked the state legislature. Most legislators at the state level are handpicked, and often, they do the bidding of the state’s chief executive. The annual budget is a mere ritual, and the state legislature’s oversight functions are almost non-existent in most cases.
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