The total revenues received by all states in 2017 was N2.67 trillion (made up of N1.73 trillion free loot from FAAC allocations and internally generated revenues, IGR, of N931 billion or less than one billion naira).
Lagos state alone generated N333.96bn, a third of the total IGR figure of N931bn.
Eight states alone (Lagos, Ogun, Rivers, Edo, Kwara, Enugu, Kano, Delta) generated N656bn of the total IGR figure of N931bn
The other 28 states generated a paltry IGR of N275 billion.
The majority of states are mere piggy backers with extremely poor viability. Take Yobe State with IGR of N3.59 billion but FAAC loot of N39.49 billion or Borno State with IGR of N4.98 billion and FAAC free loot of N46.53 billion in 2017.
Add external debt of $18.91 billion and internal debt of N3.35 trillion incurred by all the states in 2017 to their total FAAC free loot of N1.74 trillion and IGR of N931 billion. Juxpose these figures to the 90 million Nigerians living in extreme poverty and poverty rates hitting a criminal 80 percent and above in many states, then you get a crystal clear picture of the sorry country you live in.
Anybody who says there is anti corruption war in Nigeria is a joker. Elections are fierce in Nigeria, not because of differing ideologies or ideals. It is a brutal war by ruthless and vicious men for access to humongous free loot in trillions of Naira flowing in national and state treasuries. Governance is about rape of state and focus is on illicit financial transfers to personal accounts in foreign bank accounts or purchase of foreign assets.
There was a country.
