Data shows 33 Nigerian states cannot survive without FAAC

    Oluwatobi Ojabello | Insights | Nov 07, 2025    
Get Unlimited Access
Subscribe to unlock this article

Complete digital access to quality journalism on any device. Cancel anytime during your trial.

Once registered, you can:

  • Read this article and many more, including access to epapers and research
  • Enjoy customize article feed/recommendation based on your profile
  • Enjoy access to Businessday exclusive events
  • One-Access accross Businessday platforms

Share this article
Shared
3240
times

Nigeria’s state finances are sliding toward a structural crisis hidden beneath record federal transfers. A review of BudgIT’s State of States 2024 dataset shows that only a handful of sub-nationals could remain functional if allocations from the Federation Account (FAAC) were withdrawn.

Continue reading your article with a
BusinessDay subscription





Already a subscriber?
Sign In
RECOMMENDED STORIES
Economy
Why one job no longer sustains a Nigerian home
At 4:30 a.m., while much of Lagos is still asleep, Taye Bamgbade is already working.
Oluwatobi Ojabello | Jun 02, 2026
Technology
Bridging the divide: How digital banking is reshaping financial access across West Africa
Walk into any busy market in Lagos or Accra and you will find vendors accepting mobile payments without a second thought.
Sola Longe-Okenimkpe | Jun 02, 2026
Energy
The phantom grid: Who governs the darkness?
The story of electricity in Nigeria is usually told in the language of shortages. We speak of megawatts generated, transmission constraints, tariff disputes, and periodic grid collapses.
Hani Okoroafor | Jun 02, 2026
Economy
Nigeria’s electric vehicle market: Opportunity or expensive experiment?
Nigeria’s next major energy transition may not be decided by policy announcements in Abuja.
Emmanuel C. Macaulay | May 28, 2026
support_agent
phone
mail_outline
language
help_outline
Conference Ad Conference Ad