RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

States Plan N28.8 Trillion Infrastructure Spending Amid Funding Challenges

Stephen Akudike by Stephen Akudike
March 17, 2025
in Economy
Reading Time: 2 mins read
A A
0
FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

State governments across Nigeria have unveiled ambitious plans to address the nation’s infrastructure deficit, earmarking a combined N28.85 trillion for capital projects over two years. In 2025 alone, governors have proposed N17.51 trillion for infrastructure development, a significant increase from the N11.34 trillion budgeted in 2024. However, funding constraints and implementation challenges remain major hurdles.

Despite a 49.24% increase in federal allocations to states in 2024, rising to N15.12 trillion from N10.14 trillion in 2023, many states struggled to meet their infrastructure targets. Last year, states recorded a deficit of N3.98 trillion, delaying critical projects in sectors such as roads, healthcare, and education.

AlsoRead

Nigeria’s $51 Billion Reserves at Risk from Volatile Capital and Oil Reliance – EBC

Petrol Prices Rise at Major Depots as Global Crude Oil Rebounds to $76.20 per Barrel

Dangote Refinery Opens Direct Petrol Sales to All Marketers, Cuts Price to N1,075 per Litre

2024 Budget Implementation: Mixed Results
An analysis of the 2024 budget implementation reports for 32 states and the approved 2025 budgets for 35 states reveals varying levels of success. Nine states, including Delta, Ekiti, Edo, Lagos, Rivers, Yobe, Osun, Bauchi, and Akwa Ibom, achieved over 80% of their capital expenditure targets. Fifteen states implemented between 50% and 76% of their budgets, while eight states scored below 50%.

Lagos State led the pack, spending N1.31 trillion of its N1.53 trillion capital budget, achieving an 85.5% implementation rate. In contrast, Abia State spent only N250.47 billion of its N474.29 billion capital budget, reflecting a 52.8% implementation rate. Akwa Ibom and Adamawa states recorded implementation rates of 84.4% and 75.2%, respectively.

2025 Budget: Ambitious Plans
For 2025, state governments have proposed a 54.39% increase in capital expenditure, totaling N17.51 trillion. Lagos State has the most ambitious plan, allocating N2.07 trillion for infrastructure. Other states with significant allocations include Delta (N630.46 billion), Akwa Ibom (N655 billion), and Abia (N611.67 billion).

However, experts have expressed concerns about the states’ ability to execute these projects, given the persistent funding gaps and rising recurrent expenditures driven by inflation and recent minimum wage increases. Many states rely heavily on federal allocations, with internally generated revenue (IGR) growth remaining subdued due to socioeconomic constraints and inefficiencies in tax collection.

Challenges and Outlook
The report highlights several challenges facing state governments, including low revenue generation, reliance on federal subsidies, and implementation bottlenecks. On average, states only execute about 60% of their budgeted capital expenditures, falling short of the investments needed to meet the growing demands of their populations.

As the year progresses, citizens will be closely monitoring whether states can overcome these challenges and deliver on their infrastructure promises. The success of these plans will be critical to addressing Nigeria’s infrastructure deficit and fostering economic growth.

Tags: #Nigeria
Previous Post

Nigeria Spends $817.4 Million on Debt Servicing in First Two Months of 2025

Next Post

House of Representatives Recovers N28.7bn from Oil Companies

Related News

FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

Nigeria’s $51 Billion Reserves at Risk from Volatile Capital and Oil Reliance – EBC

by Victoria Attah
July 10, 2026
0

Global financial services firm EBC Financial Group has warned that Nigeria’s foreign reserves, which recently surpassed the $51 billion mark,...

Oil Prices Reach $90 Following Supply Reduction by Saudi Arabia and Russia.

Petrol Prices Rise at Major Depots as Global Crude Oil Rebounds to $76.20 per Barrel

by Akpan Edidong
July 10, 2026
0

Major petroleum depots in Nigeria have increased the ex-depot price of petrol following a fresh rally in international crude oil...

Dangote Refinery Opens Direct Petrol Sales to All Marketers, Cuts Price to N1,075 per Litre

by Akpan Edidong
July 6, 2026
0

(petrol) to all licensed marketers, scrapping its previous consortium arrangement. The refinery also announced a fresh reduction in its ex-gantry...

President Tinubu’s Executive Orders Set to Boost Liquidity in Nigeria’s Forex Market

Tinubu Administration Secures $11.4 Billion in World Bank Loans Within Three Years

by Victoria Attah
July 6, 2026
0

The administration of President Bola Tinubu has secured $11.40 billion in loan approvals from the World Bank since taking office...

Next Post
House of Representatives Urges CBN to Ease Access to N250 Billion Gas Expansion Facility.

House of Representatives Recovers N28.7bn from Oil Companies

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Raises N1.06 Trillion at July 8 Treasury Bills Auction, Lifts One-Year Rate to 17.70%

July 10, 2026
FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

Nigeria’s $51 Billion Reserves at Risk from Volatile Capital and Oil Reliance – EBC

July 10, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Nigeria’s $51 Billion Reserves at Risk from Volatile Capital and Oil Reliance – EBC

    0 shares
    Share 0 Tweet 0
  • Honda launches Unicorn motorcycle in Nigeria.

    0 shares
    Share 0 Tweet 0
  • Life is a struggle

    0 shares
    Share 0 Tweet 0
  • Iran’s Top Crypto Exchange Nobitex Loses $90 Million in Hack, Funds Destroyed

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>