Danger, Imo Among States Who May Not Fund Budget Without FG Allocation

Indications are hight that hard times awaits some states in the country, including Imo.

A survey by financial experts through a report indicate that some states are in trouble as they may not be able to prosecute their budgets because of lack of corresponding income.

A report monitored by newspaper has it that ony three states can effectively fund their budgets without “big push” from the federal government.

According to BudgiT’s state of states report 2021, only Lagos, Rivers and Anambra can’t fund their budgets without much trouble.

Data of BudgiT shows that is a Nigerian civic organization that applies technology for citizen engagement with institutional improvement to facilitate societal change.

Report of the agency Trumpeta monitored states that “Lagos, Rivers and Anambra states appeared at the top of its ranking because they meet their operating expenses obligations with a combination of their Internally Generated Revenue, (IGR) and Value Added Tax ( VAT).

The agency predicts doom for other states which includes Imo except the states work hard to build economic prosperity and create more jobs in their states to ensure that there is more money in circulation and economic activities that can be taxed to improve their IGR.

BudgIT said, “This is necessary considering the comparative size of their operating expenses and the global push to transition away from fossil fuels like crude oil, a key source of the federally distributed revenue.”

The agency said states at the bottom of the ranking include Jigawa, Delta, Benue, Taraba and Bayelsa.