News

Report Names Lagos, Six Others Viable States, Declares Six Insolvent

Published

5 months ago

December 18, 2023

A report by Economic Confidential, a subsidiary of PR Nigeria, has declared seven states, including Lagos, Ogun, Rivers, Kaduna, Kwara, Oyo and Edo as the most viable states in Nigeria for 2022.

The Assistant Editor of Economic Confidential, Zekeri Idakwo, disclosed this at a press briefing and presentation of the 2022 Annual States Viability Index Report in Abuja on Monday.

He said the report was compiled from figures released by the Nigerian Bureau of Statistics, and the Federal Account Allocation Committee.

Idakwo said, “The IGR of the 36 states of the federation totalled N1.8trn in 2022, which was above that of 2021, which was N1.76trn.

“The report further indicates that the IGR of Lagos State of N651bn is higher than that of 30 other states put together whose Internally Generated Revenues are extremely low and poor, compared to their allocations from the Federation Account.

“A total Internally Generated Revenue of N1.5trn from the seven most viable states in 2022, was almost twice the total IGR of 29 states together that merely generated about N650bn.”

A breakdown of the report showed that while Lagos received N370bn from FAAC, the state generated N651bn; Ogun received N113bn and generated N120.5bn; Rivers received N363.4bn and generated N172bn; Kaduna received N155bn in federal allocation, and generated N58bn; Kwara received N99bn and generated N35.7bn; Oyo received N181bn and received N62bn; and Edo received N147bn in federal allocation, and generated N47.4bn.

Six states however, including Bayelsa, Akwa Ibom and Katsina states, failed to generate up to 10% of the total allocations received from the Federal Government for 2022 and were declared insolvent states.

“The six states that may not survive without the Federation Account due to their extremely poor internal revenue generation of less than 10% compared to their federal allocations are Bayelsa, Katsina and Akwa Ibom, the home states of former Presidents Goodluck Jonathan, Muhammadu Buhari, and the current Senate President Godswill Akpabio respectively. Others are Taraba, Yobe and Kebbi States,” the report added.

Bayelsa was bottom of the list, having received N273bn and generating only N15.9bn, representing 5.81% of the allocations; Kebbi received N119bn and generated N9bn (7.67%); Katsina received N165bn and generated N13bn (7.90%); Akwa Ibom received N360bn and generated N34.8bn (9.66%); Taraba received N103bn and generated N10.2bn (9.91%); while Yobe received N105bn and generated N10.4bn (9.91%).

Idakwo stated that the states’ IGR could be improved “through aggressive diversification of the economy to productive sectors, rather than relying on the monthly Federation Account revenues that largely come from the oil sector”.

He added that the states may not be able to stay afloat outside the monthly allocations, noting that some of the states were unable to attract investments due to socio-political and economic crises including insurgency, kidnapping, armed banditry and herdsmen-farmers clashes.

News

Moment Chief Defense Staff Hosts Prince Harry, Meghan Markle In Reception [VIDEO/PHOTOS]

Published

4 hours ago

May 11, 2024

Editor

Prince Harry and Meghan Markle attended a reception hosted by the Chief of Defense Staff.

This was after they attended a volleyball game earlier in the day.

During the reception, which held at the Armed Forces Officers Mess & Suites in Abuja, the Duke and Duchess of Sussex received asho oke gifts from Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM).

The couple also danced with Dabiri-Erewa.

The purpose of the visit was to introduce the royal couple to Nigeria’s rich socio-cultural heritage and provide an opportunity for the Duchess of Sussex to explore her Nigerian lineage.

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News

JUST IN: Again, Aircraft Skids Off Runway At Lagos Airport

Published

11 hours ago

May 11, 2024

Editor

Photo: file copy

Barely 16 days after Dana Air was shut down by the Nigeria Civil Aviation Authorities, another aircraft belonging to XEJET Airlines also skidded off the runway and landed in the grass at the Murtala Muhammed Airport, Lagos on Saturday.

Following this development, the Federal Airports Authority of Nigeria has shut the 18/Left runway of the airport

The Airbus with registration 5N-BZZ with 52 passengers on board departed Abuja and landed in Lagos at 11.29 am.

Just last month, Dana MD-82 aircraft was involved in a skidding off of the runway, necessitating the Minister of Aviation and Aerospace Development, Festus Keyamo, to order the suspension of the carrier for a comprehensive auditing.

Last year, in November, two aircraft from two different airlines skidded off the runway, in one week.

Aero Contractors, flight NG 119 with a registered Boeing 737 aircraft 5N-BYQ from Lagos to Abuja had a total of 133 passengers on board.

All passengers were safely evacuated through a controlled disembarkation.

The temporary closure of the runway by FAAN limits the airport to one single runway which is expected to lead to aircraft delays and landing.

The spokesperson of the Nigerian Safety Investigation Bureau, Bimbo Olajide, confirmed that an aircraft belonging to Xejet Airlines skidded off the runway of the domestic wing of the Murtala Muhammed Airport on Saturday.

She stated that a team had been deployed to the site of the incident.

“Our teams are there and on top of the matter. But whether or not the runway will be reopened today, i cannot immediately answer questions on that.” NSIB spokesperson told PUNCH Online.

News

Ededuna Obaseki’s Descendants Congratulate King Charles On Coronation Anniversary

Published

14 hours ago

May 11, 2024

Editor

The entire direct descendants of World War II Veteran and a recipient of World War II Medals of Honour, Capt. Ededuna Walter Obaseki, has congratulated His Majesty King Charles III on his first coronation anniversary.

A congratulatory message signed by Mercy Ededuna Obaseki on behalf of The descendants, and made available to INFO DAILY prayed God to bless the King with long life, honour, and good health.

“We wish His Majesty good health so that he can effectively pilot the affairs of The United Kingdom of Great Britain, Northern Ireland and The Realms of The Commonwealth,” the message added.

The descendants, while thanking the British government for preserving the records of their late father, urged the King of the Great Britain to “start soon, the Colonial Legacy review in Nigeria because it is so important to us.”

While approaching efforts being made by His Majesty to review Colonial Legacies, the descendants said in hearing the King’s move to review it, “our Joy knew no bounds, and this feeling of great Joy increased more abundantly when we saw that indeed he was already doing this.”

“We watched with great happiness and excitement, The King presenting replacement World War II Medals in Kenya to the Veterans of The Second World War.

“We hope the King will also take action soon in actualising and fulfilling our dreams that both the British and the Nigerian government meet our demands that our father’s entitlements and work benefits be paid to we his direct descendants. It is also our prayer that the King empowers and supports us in our quests and in the present circumstances that we are in right now, your quick help is highly solicited.

“Our father Ededuna Walter Obaseki was a captain of the British Merchant Navy, a World War II Veteran and a recipient of The World War II Campaigns and Gallantry Medals of Honour. The 1939-1945; Atlantic Star; Italy Star; British War Medals were
Awarded to our father Ededuna Walter Obaseki and other officers and Seamen of the British Merchant Navy by HRM King George VI.

“Obaseki was a pioneer industrialist, governor, prime minister and head of government, and he handled the British administration in Southern Nigeria that brought great success to Nigeria in many areas like modern agriculture, education, healthcare, and maritime Shipping. The forming, shaping and developing of the navies during the time of the boom that both countries enjoyed and its citizens can still speak well of in sheer glories of remarkable advancement today.

“We are aware of some attempts by the Federal Government of Nigeria particularly in 2014 to help bring out and make known, the legacies of those that played active and very important roles in making this country Nigeria to be great, especially the Merchant Navy Officers who were the first ambassadors, head of administration and head of the British Board of Trade that brought about very positive growth and boom in Nigeria through the exports of timber, rubber, cocoa and palm produce, etc.

“We also want the distinguished senators and honourable members of the House of Representatives of Nigeria to grant our request that our father’s entitlements and work benefits for service in Nigeria to be paid to us by the Nigerian government. We need them (The Law Makers) to use their voice to also make our demands from The British Government.”