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21 state govts solicit N1.65tn loans to fund 2024 budgets – Report
21 state govts solicit N1.65tn loans to fund 2024 budgets – Report
Twenty one states of the federation are seeking loans amounting to N1.65 trillion to fund their 2024 budget deficits despite the increase in the allocations they have received from the Federation Account Allocation Committee (FAAC) in the last one year.
From June 2023 to June this year, all the 36 states and the 774 local governments received a total of N7.6 trillion from FAAC. This increase in revenue is largely due to the removal of petrol subsidy by the federal government on May 29, 2023.
Findings by Daily Trust show that the 36 states are projected to receive N5.54 trillion from FACC for this year as against the N3.3 trillion disbursed to them last year.
Under the current revenue-sharing formula, the federal government receives 52.68 percent; while states and local governments get 26.72 percent and 20.60 percent respectively. Such federation revenues, in addition to internally generated revenues of each tier, are expected to facilitate development across the three tiers of government, and also ensuring that the governments fulfill their financial obligations.
The FAAC allocations to local governments for June were paid directly to the state governments.
The Supreme Court had, on July 11, affirmed financial autonomy for the local governments. The apex court directed that the financial allocations meant for all the 774 local government areas in the country be paid to them directly. It said it is unconstitutional for state governments to keep and manage allocations on behalf of the local governments.
States’ borrowing patterns
Investigations by Daily Trust show that 21 states have expressed intentions to borrow a total sum of N1.650 trillion from both internal and external sources to fund their 2024 budget deficits.
Other states are yet to upload their borrowing plans.
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According to details of the borrowing plans made public, the Adamawa State Government is to borrow N68.46 billion; Anambra N245 billion; Bauchi, N59.08 billion; Bayelsa, N64 billion; Benue, N34.69 billion; Borno, N41.71 billion; Ebonyi, N20.5 billion; Edo, N42.71 billion and Ekiti State, N27.15 billion.
Others are Jigawa, N1.78 billion; Kaduna, N150.1 billion, Kebbi, N36.7 billion; Katsina, N163.87 billion; Kogi, N37.08 billion; Kwara, N30.76 billion; Osun, N12.36 billion; Oyo, N133.4 billion; Nasarawa, N32.93 billion; Gombe, N73.75 billion; Enugu, N103 billion and Imo, N271.34 billion.
Breakdown of states’, LGAs allocations in 1yr
The monthly FAAC allocations to the 36 states and the 774 local governments from June last year to June this year stood at N7.6 trillion. This represents an increase of over 40 per cent.
In June 2023, states got N299.92 billion; local government councils (LGCs), N221.79. July: states, N310.670 billion, LGCs, N229. 409 billion. August: states, N319.52 billion; LGCs, N236.23 billion. September: states, N361.19 billion; LGCs, N266.54 billion. October: states, N287.07 billion; LGCs, N210.90 billion. November: states, N379.41 billion; LGCs, N278.04 billion. December: states, N396.693 billion and LGCs, N288.928 billion.
In January this year, state governments got N379.407 billion; LGCs, N278.041 billion. February: states, N366.95 billion; LGCs, N267.15 billion. March: states, N398.689 billion; LGCs, N288.688 billion. April: states, N403 billion; LGCs, N293 billion. May: states, N388.419 billion; LGCs, N282.476 billion. June: states, N461.979; LGCs, N337.019 billion.
Allocations from Value Added Tax also rose year-on-year by 228.8 percent to N2.42 trillion in the first five months of 2024, up from N736.06 billion in the first five months of 2023.
The 13 percent derivation fund received by oil producing states also rose by 234 percent to N519.83 billion in the first five months of 2024, up from N155.5 billion in the first five months of 2023.
20% of June allocation enough to build 320 PHCs
In June this year alone, the FAAC allocations to both states and local governments crossed the N1 trillion mark with N1.3 trillion.
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If the standard of N500 million outlined by the World Health Oganisation (WHO) for establishment of an averagely equipped primary healthcare centre facility is anything to go by, 20 percent (N160 billion) of the June allocation is enough to put in place 320 of such health facilities nationwide.
There’s need for accountability – Experts
The Executive Director of the Centre for Fiscal Transparency and Public Integrity, Umar Yakubu, said there is a need for accountability regarding how the allocations to the states are being spent. In an interview with Daily Trust, Yakubu noted that the removal of the petrol subsidy has led to a significant increase in revenues, especially at the states and local governments.
He said: “The major issues is that governments think the more they make revenue, the more they solve problems because the accountability mechanism is so weak and the audit processes are not good enough to check excesses.
“So, what you have is more Naira into the system and the few who have access to them will convert them to dollars, which is the major reason our foreign exchange market has not stabilised because of too much Naira chasing few dollars.
“Therefore, we call for accountability which has to be in place to check corruption because as you can see, more money has come, but no state is recruiting, no state is increasing pensions or allowances of workers or event increasing capital expenditures because they are just siphoning money without accountability”, he said.
Also speaking to Daily Trust, a development expert, Victor Agi, said if the issue of accountability at the sub-national level is not tackled head-on, the challenges at the grassroots would continue.
Agi said state governments must be accountable with the increased revenues to drive growth at the grassroots.
“One of the issues is that people always blame bad governance on the federal government, forgetting that governors also get huge allocations to develop their various states.
“In the last one year, revenues have grown by almost 50 per cent, yet the governors can’t improve welfare of their workers and the people in general. For instance, the president signed the national minimum wage of N70,000 and some of the governors are kicking that they can’t pay despite increase in revenues. This indicates that something is wrong.
“What is more disturbing is that the same issue will now be encountered in the local governments now that their allocations will be paid directly. There is need for more awareness from civil society to ensure that development at the grassroots is implemented now that revenues have increased,” he said.
21 state govts solicit N1.65tn loans to fund 2024 budgets – Report
DAILY TRUST
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Ex-CSU Lecturer Reopens Tinubu’s Certificate Controversy, Says President Never Attended University
Ex-CSU Lecturer Reopens Tinubu’s Certificate Controversy, Says President Never Attended University
A fresh controversy has emerged over President Bola Ahmed Tinubu’s educational background after a former lecturer at Chicago State University (CSU), Dr Adetokunbo Pearse, claimed that the Nigerian leader never attended the American institution.
Pearse made the allegation during an interview on News Central Television on Sunday, November 8, 2026, insisting that he had personal knowledge of the university’s academic programme and Tinubu’s alleged attendance.
The former lecturer, who said he worked at Chicago State University between 1985 and 1990, claimed he was the director of the programme Tinubu reportedly attended.
According to him, he was familiar with the institution’s records and maintained that the President never enrolled there.
“The fact of the matter is, I know he never attended Chicago State University. He knows that I know. So the man (Mr Tinubu) has no integrity,” Pearse said.
He also questioned the educational institutions Tinubu listed in documents submitted to the Independent National Electoral Commission (INEC), arguing that the President had identified schools he allegedly never attended.
Pearse further claimed that he was approached in 1999 by individuals seeking information about Tinubu’s academic records when the late Funsho Williams was reportedly making inquiries into the matter.
The allegation has reopened public debate over Tinubu’s educational qualifications, which generated considerable controversy during the 2023 presidential election and subsequent legal proceedings.
However, Pearse’s assertion contradicts Chicago State University’s official position. In September 2023, the institution confirmed that Tinubu attended the university and graduated in 1979 with a bachelor’s degree.
The university subsequently released academic records following legal proceedings initiated in the United States by former Vice-President Atiku Abubakar.
The records indicated that Tinubu attended the institution between August 1977 and June 1979 and was awarded a Bachelor of Science degree in Business Administration.
Although questions were raised during the legal proceedings about the authenticity of the particular diploma submitted to INEC, Chicago State University maintained that its records confirmed Tinubu’s attendance and graduation.
Pearse’s latest comments therefore introduce a fresh personal challenge to the university’s previously stated position, although his assertion does not, on its own, invalidate the institution’s official records.
As of the time of filing this report, the Presidency had yet to publicly respond to the latest allegations, according to reports on the interview.
The renewed controversy is likely to attract further political attention as Nigerians continue to debate questions surrounding transparency, public accountability and the President’s educational background.
Ex-CSU Lecturer Reopens Tinubu’s Certificate Controversy, Says President Never Attended University
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One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
One person has been killed and five others injured following a violent clash that disrupted a political procession organised by supporters of the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, and his running mate, Rabiu Kwankwaso, in Asaba, Delta State.
The incident occurred at about 12:15 p.m. on Saturday, November 7, 2026, along Nnebisi Road, during a one-million-man march organised by supporters of the Obi-Kwankwaso Movement.
The Delta State Police Command confirmed the casualties, disclosing that the identities of the deceased and injured persons had yet to be established as investigations commenced.
In a statement issued by the Police Public Relations Officer, SP Bright Edafe, the command said it had received intelligence indicating the possibility of violence ahead of the procession.
According to the police, organisers of the rally were invited to a security meeting, where they were briefed about the identified threats and advised against holding an open-road procession.
The command said the organisers were encouraged to conduct their political activities at a designated venue where adequate security arrangements could be provided.
However, the police alleged that the organisers ignored the advice and proceeded with the procession.
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Following a distress call, police operatives were deployed to the scene and evacuated the injured victims to hospital for medical attention.
Security was subsequently reinforced in the affected area to prevent further breakdown of law and order.
The police said investigations were ongoing to establish the circumstances surrounding the violence and identify those responsible.
Commissioner of Police, Samuel Erale, condemned the incident and reiterated that political parties were free to conduct lawful campaigns and other political activities across the state.
He, however, urged political parties and their supporters to avoid road processions in the interest of public safety and liaise with the police ahead of political gatherings to facilitate adequate security arrangements.
The command also appealed to members of the public with useful information about the incident to contact the police through 09155570008 or 09155570007.
Meanwhile, the NDC has accused the ruling All Progressives Congress (APC) of being behind the attack, alleging that the incident was an attempt to intimidate opposition supporters and disrupt its political activities.
Former Speaker of the Delta State House of Assembly and NDC senatorial candidate for Delta North, Victor Ochei, called on Governor Sheriff Oborevwori to order an immediate investigation and ensure that those responsible were arrested and prosecuted.
Ochei alleged that more than 30 campaign buses were destroyed during the attack, accusing suspected attackers of being mobilised by individuals allegedly connected to the ruling party.
However, Delta APC spokesperson, Valentine Onojeghghuo, dismissed the allegation, insisting that the NDC had provided no evidence linking APC members to the incident.
He described the accusation as baseless and urged the opposition party to embrace peaceful political engagement.
The Delta State Coordinator of the Obi-Kwankwaso Movement, Favour Emerue, also alleged that the gathering was peaceful before suspected hoodlums disrupted the procession, leaving some participants injured.
In a separate reaction, Peter Obi condemned the reported attacks on his supporters and NDC members in Delta State, calling on the state government and security agencies to investigate the incidents and bring those responsible to justice.
The latest violence has renewed concerns about the safety of political activities ahead of the 2027 general elections.
The police have assured residents that a thorough and impartial investigation will be conducted to establish the circumstances surrounding the clash and ensure that anyone found culpable faces the law.
One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
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Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
ABUJA – Minister of Power, Joseph Tegbe, has assured Nigerians that electricity supply will begin to improve within the next 48 to 72 hours as the Federal Government intensifies efforts to address the challenges responsible for the recent power outages across parts of the country.
Tegbe gave the assurance in an update on the country’s power situation amid growing complaints from electricity consumers over prolonged blackouts, particularly in Lagos and the Federal Capital Territory.
The minister attributed the worsening electricity supply to a combination of planned maintenance at Egbin Power Station, inadequate gas supply to some thermal power plants and sabotage of critical transmission lines.
According to him, the challenges have reduced the volume of electricity available on the national grid, forcing grid operators to implement load shedding in some areas to manage the shortfall.
He explained that maintenance activities at Egbin Power Station, one of Nigeria’s major electricity-generating facilities, had contributed significantly to the reduction in power generation.
The minister also identified gas supply constraints affecting some thermal power stations as another factor responsible for the decline in electricity generation.
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Tegbe further alleged that sabotage of key transmission lines had restricted the use of alternative routes for supplying electricity to some locations, particularly Lagos.
He said the Federal Government was working with relevant operators to address the challenges and restore the affected generating units in phases.
“My team and I are working to return the affected generating units to service in phases, with the first units coming back online within the next 48 to 72 hours.
“We are also working with operators to improve gas supply and accelerate repairs to the damaged infrastructure,” he said.
The minister acknowledged the hardship caused by the outages, noting that the disruptions had placed considerable pressure on households and businesses in the affected states.
He apologised to electricity consumers experiencing the interruptions and thanked them for their patience, promising to provide further updates as efforts to restore supply progress.
The latest assurance follows growing public complaints over worsening electricity supply, with residents and businesses in several locations struggling to cope with prolonged outages.
The power crisis has also triggered disagreements between the Transmission Company of Nigeria (TCN) and Ikeja Electric over the causes of recent supply interruptions.
While Ikeja Electric had cited grid instability in explaining its inability to meet electricity supply obligations to some Band A customers, TCN disputed the explanation, attributing the decline largely to inadequate gas supply and reduced electricity generation.
Tegbe had earlier directed TCN, the Nigerian Independent System Operator (NISO) and electricity distribution companies (DisCos) to address operational challenges contributing to the decline in power supply.
Nigerians will now be watching closely to see whether the promised improvement materialises within the 48-to-72-hour timeframe.
Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
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