Regulatory Alerts2013-07-15 | ACGSF/05/2013May 2013 Report of Activities under the Agricultural Credit Guarantee Scheme
The report presents data on the disbursements of budgeted amounts from the Federal and State Governments of Nigeria, as well as sundry expenditures for selected states in 2011. The total funds budgeted and disbursed for all the listed categories amount to N211,669 billion, with N183,517 billion allocated from the Federal Government and the remaining N26,208 billion coming from State Governments. Looking at individual states, Abuja had a total budget of N40,707 billion (N20,290 billion federal, N20,417 billion state), while Kano had a budget of N30,566 billion. Akwa Ibom's total budget was N158,443 billion (N66,779 billion federal, N91,664 billion state), with Bayelsa recording the highest budget at N216,317 billion (N103,568 billion federal, N112,750 billion state). The states of Lagos and Zamfara had lower budgets at N139,452 billion (N59,777 billion federal, N80,675 billion state) and N19,166 billion (N1,916 billion federal, N20,500 billion state), respectively. In terms of sundry expenditures, the highest was recorded in Akwa Ibom at N14,274 billion, followed by Lagos with N8,420 billion and Kano with N7,599 billion. The lowest sundry spending was in Zamfara at N326 million. The data also shows that the Federal Capital Territory (FCT) Abuja spent more on personnel costs than any other category, accounting for over 80% of its budget. In contrast, education and health accounted for a smaller portion of the total budget in all states except Bayelsa. It's also worth noting that the report does not include data on revenue generation by these states or their fiscal sustainability. Therefore, it is essential to consider this information alongside other financial indicators when assessing the financial health and performance of these entities.