Nigeria: Nasarawa's Internally-Generated Revenue Hits N27.31bn in 10 Months

The Nasarawa State government has recorded a significant improvement in its revenue drive, with an increase of over N5 billion in Internally-Generated Revenue (IGR) compared to the previous year.

This came as revenue from the Federation Accounts Allocation Committee (FAAC) also increased significantly during the period.

In his speech during the 2026 budget presentation to the state House of Assembly, Governor Abdullahi Sule disclosed that the state's IGR stands at N27.31 billion as of 31 October, 2025.

He said this represented an improvement from the N22.78 billion generated in 2024.

"Our revenue collection and public expenditure management reforms are yielding results, with notable improvements in independent revenue (Internally-Generated Revenue) performance," he told the lawmakers.

According to him, the state's total revenue stands at N235.048 billion as at the end of October 2025 including opening balance, representing 61.16% of the total projected revenue for the fiscal year.

He stated that the amount comprises N127.20 billion from the Federation Account Allocation Committee (FAAC) and N27.31 billion from Internally Generated Revenue (IGR).

"Additionally, we received N26.51 billion as capital receipts from aid, grants, and capital development funds, which form part of deficit financing," he stated.

On the state's expenditure profile, Governor Sule explained that the administration has achieved the highest capital expenditure (capex) performance this fiscal year since its inception.

Shedding light on the development, he said the total expenditure for the 2025 Budget as at October 31, 2025, stood at N226.36 billion, representing 58.90% of the approved expenditure for the year.

"Of this, N106.11 billion was spent on recurrent costs, with priority given to the regular payment of staff salaries, gratuities/pension, debt servicing and other running costs.

"The capital expenditure for the period was N120.25 billion, representing 53.75%, this is the highest capex performance in a fiscal year since the creation of the State," he noted.

He said despite the achievement in the IGR, the administration is working hard to identify and tap into new revenue sources to reduce overreliance on external sources, while also sustaining the current momentum.

Read the original article on Leadership.