Thread by @BudgITng

Oil-producing states must depend less on FAAC & oil derivation funds and invent new ways of expanding their IGR.

To achieve this, they must cut the cost of governance and reduce recurrent expenses.

More insights from our report on Akwa-Ibom, Bayelsa, Delta & Rivers.👇
THREAD!

In 2019, Akwa-Ibom's recurrent expenditure outperformed its capital expenditure by over 15%, and its debt profile has been on a steady increase in the last five years, rising from N187bn in 2017 to N237bn in 2019 #FixOurOil @results4dev

Bayelsa States's recurrent expenditure of 147bn was significantly higher than its CAPEX of N42bn.

This shows that not much is happening in terms of developmental projects.

Bayelsa is at risk of a debt crisis as its domestic debt grew by 61%, totalling N147bn. #FixOurOil

Delta State's 2019 total expenditure was N359bn. Recurrent expenditure constituted 60% of this. Of this amount, N81bn was spent on overheads and a whopping N33bn on miscellaneous items. #FixOurOil

On the contrary, Rivers has invested more funds in CAPEX, spending N221bn on CAPEX and N113bn on recurrent expenditure.

This is commendable, but more allocations need to go to social sectors like Education and Health. #FixOurOil @results4dev

Our recommendations? Watch full video👆

#FixOurOil #AskQuestions @results4dev @NRGInstitute @seunonigbinde @Connected_dev @GabsynGreat @PWYPNigeria @FordFoundation @EITIorg @nigeriaeiti @FordFoundation @OSIWA1