By Enoch Oyedibu
In the face of economic upheaval, surging commodity prices, and growing dissatisfaction among Nigerians, the governors of six southwest states are charting a controversial course.
Data from Statisense, a platform tracking social issues and government spending, unveils their ambitious plan to allocate ₦214.7 billion in 2024 exclusively for governors’ offices.
This eye-catching allocation stems from the colossal combined 2024 budgets, running into trillions and billions of naira, emphasizing a deliberate focus on executive functions.
PLATFORM TIMES reports that Lagos State, with its ₦2.2 trillion “Budget of Renewal,” designates ₦66.8 billion (2.95%) for the governor’s office, ostensibly covering all aspects of its operations. Ogun State, in a historic fiscal move with a ₦703 billion budget, allots ₦64.2 billion (9.13%) for its governor’s office.
Oyo State follows suit, earmarking ₦49.9 billion (11.38%) of its ₦434.2 billion budget for the governor’s office.
Osun State, under the “Budget of Reconstruction and Recovery” at ₦273.91 billion, designates ₦13 billion (exceeding 4.76%) for executive management.
Governor Oyebamiji’s “Budget of Sustainable Growth and Development” in Ekiti State, valued at ₦159.5 billion, includes a significant ₦18.9 billion (11.87%) for the governor’s office.
Ondo State’s fiscal year 2024 budget, reaching ₦384.53 billion, devotes 0.48% (₦1.9 billion) exclusively to the governor’s office.
Despite the staggering sums, these states plan to utilize the budgets through additional debt, internal revenue deductions, and reliance on federal grants and external organizations.
PLATFORM TIMES gathered that the shadow of ₦1.75 trillion in combined domestic debt looms large over the southwest states, with Lagos leading at ₦960.50 billion, followed by Ogun at ₦293.20 billion, Ondo at ₦72.75 billion, Osun at ₦145.27 billion, Oyo at ₦161.77 billion, and Ekiti at ₦112.40 billion.
PLATFORM TIMES reports that this financial juggling act raises critical questions about the sustainability and prioritization of spending, as the region navigates a precarious balance between mounting debt and extravagant allocations for governors’ offices.
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