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Tool for responsibility and accountability in Nigeria's public finances: the BudgIT report - Shettima

The BudgIT Foundation Nigeria study, which is well known for its expertise in budget tracking and transparency advocacy, would reportedly set a new benchmark in responsibility and accountability for the nation's public finances, according to Vice President Kashim Shettima.


Shettima announced this at the introduction of the Budgit 2023 State of States Report under the theme "Subnational Healthcare Delivery for Improved Economic Development," which was carried out by his Special Adviser on Economic Affairs, Dr. Tope Fasua.


The condition of states, according to The News Agency of Nigeria (NAN), is an annual comparative evaluation of the fiscal performance and situation of the 36 states that make up the federation.


The State of States research was done for the first time in 2017, and there have since been four further editions.


Shettima emphasized the significance of gradual societal change and recognized the Budgit Foundation as a catalyst for growth.


"With the idea that improved health is crucial for economic success, the 2023 event will put a special emphasis on healthcare.


He emphasized that the Gross Domestic Product (GDP) cannot prosper in the absence of a healthy community.


He praised the Budget Foundation's efforts to examine state-level issues, but he also stressed the importance of paying attention to local governments, especially in rural areas.


He claimed that the opportunity for economic growth was present in many of these underserved regions.


He recommended that future programs concentrate on these regional areas and evaluate both their success and status.


He expressed doubts about how well healthcare dollars are spent.


Despite the African Union's recommendation that a specific portion of the budget go toward healthcare, the vice president emphasized the significance of making sure the money was spent wisely.


In remote areas with a shortage of healthcare providers, abandoned basic healthcare facilities were mentioned as an example of wasteful spending, he added.


He promised that the information and conclusions in the State of State 2023 study by the BudgIT Foundation will be taken into consideration and incorporated into the government's plans.


Iniobong Usen, chief of research and policy advisory at BudgIT, presented the State of States Report and noted that states' dependency on transfers from the federal government increased from 58.4% in 2021 to 61.45% in 2022.


According to Usen, federal transfers made up at least 70% of the total state income in 16 states, while at least 50% of the state income in 32 other states came from federal transfers.


He claimed that from N5.12 trillion in 2021 to N6.6 trillion in 2022, the combined revenue of the 36 states increased by 28.95 percent.


"The 36 states' IGR increased by 12.98% from N1.61 trillion in 2021 to N1.82 trillion in 2022, indicating a stronger ability to mobilize domestic revenue.


"At 1.01 percent, the IGR to GDP ratio remained extremely low. The increase in IGR did not occur uniformly, as 19 states saw positive growth while 17 states saw a fall in IGR from the prior year, the economist said.


He stated that when it came to the country's under-five mortality rate, the southwest had the lowest results at 48 deaths for every 1,000 live births, while the northwest had the worst regional statistics at 158 fatalities for every 1,000 live births.


According to him, Sokoto had the worst figures, while Lagos had the lowest overall.


In Nigeria, one out of every ten children does not live to be five years old, and one out of every seven children born in the Northwest do not.


According to the Country Director, Mr. Gabriel Okeowo, the 2023 State of States edition focuses on how subnationals prioritize expenditures in the growth of human capital and the viability of state borrowing.


The 36 federation-member states' financial performance and status were compared in the state states report, according to Okeowo.


According to him, the paper examined how States could finance their budgets with monies generated domestically rather than relying solely on federal allocation.



This post first appeared on IGONG, please read the originial post: here

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Tool for responsibility and accountability in Nigeria's public finances: the BudgIT report - Shettima

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