State governments may be currently grappling with varying degrees of financial concerns, following the N 180 .4 bn crash in their internally generated revenues and the allocations they received from the Federation Accounts Allocation Committee .
An analysis of various IGR and FAAC reports obtained from the National Bureau of Statistics showed that the states ’ total revenues dropped by N180 . 4 bn in the first half of this year when compared to what they made in the second half of 2019 .
Findings showed that the total IGR and federal allocations to the 36 states and the Federal Capital Territory in the second half of last year amounted to N 1 . 914 tn .
But this dropped to N 1 . 121 tn in the first half of 2020 , indicating a crash of N181 bn or 9 . 45 per cent when compared to the preceding half year’ s revenue generation of the states .
It was observed that the total IGR of the states and FCT in the second half of 2019 was N640 . 3 bn , while their total allocation from FAAC during the same period was N1 .274 tn , making a cumulative total of N1 .914 tn .
On the other hand , in the first half of this year, the total IGR garnered by the states and the FCT was N612 . 87 bn , while the allocations they received from the FAAC in the same period were N1 . 121 tn , bringing the total to N 1 . 733 tn .
Based on the above figures , both the IGR and FAAC allocation to the states and FCT dropped during the period .
Analysis of the figures showed that the states ’ IGR in the first half of this year dropped by N27 . 44 bn , when compared to what they recorded in the second half of 2019 .