BudgIT, a civic-technology organization promoting transparency and accountability in government budgets, has revealed a significant rise in Nigeria’s states' fiscal surplus, increasing from N2.8 trillion in 2023 to N7.1 trillion in 2024.
In a recent post on its official X (formerly Twitter) handle, BudgIT attributed the surge partly to the Federal Government’s settlement of over N2 trillion in outstanding capital budget arrears for the 2024 fiscal year. The organization highlighted that this increase provides subnational governments with more financial space to invest in critical sectors such as infrastructure, healthcare, and education.
BudgIT emphasized the importance of sustaining this momentum as focus shifts to the capital releases for 2025. The group encouraged Nigerian citizens to actively track government spending using platforms like yourtracka.org and govspend.ng to ensure that public funds translate into real development benefits across states, local governments, and communities.
This fiscal improvement marks a positive trend in subnational government finances, offering greater opportunities for accelerating Nigeria’s socio-economic development.