Nigeria's 36 states recorded a 93 per cent increase in revenue between 2023 and 2025, but education's share of total expenditure declined, according to the World Bank. The bank disclosed this in its latest Nigeria Development Update, which examined how increased public revenue has influenced spending priorities across the federation. The report was made available to the News Agency of Nigeria (NAN) by the World Bank in Washington, D.C. According to the report, aggregate state revenue increased by approximately 93 per cent in real terms during the period, while expenditure rose by 92 per cent. The World Bank attributed the revenue growth partly to exchange-rate reforms, the removal of petrol subsidies, improved revenue administration, and increased allocations from the Federation Account, as well as refunds, settlement of longstanding federal obligations, intervention funds, and stronger Value Added Tax collections.
Related Articles
Don't miss out on breaking stories and in-depth articles.