Intelligence Details: President Buhari May Consider To Merge 15 States, Over Bankruptcy

Intelligence Details: President Buhari May Consider To Merge 15 States, Over Bankruptcy

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Going by what President Buhari said, that it is “shameful ‎thing for a State not to be able to meet its salary obligation” He may Consider to merge at least 15 Nigerian states.

According to an investigation by the Economic Confidential, an economic intelligence magazine, 15 States may go bankrupt in the coming months, as their Internally Generated Revenues, IGR, in 2015 were far below 10% of their Federation Account Allocations, FAA.

The report noted that the IGR of Lagos State (N268 billion), is higher than that of 32 States combined together, excluding Rivers, Delta and Ogun, whose IGRs are very impressive.

In the whole of 2015, other 32 States merely generated a total of N257 billion in 2015.

The IGR, reveals that only Lagos State generated more revenue than its allocation from the Federation Account by 150 percent, and no other State has up to 100 percent of IGR to the federal largesse.

We gathered that most of the States under listed, were mostly from the North, yet agriculture which is the strong hold of the region, has been long neglected.

Some unconfirmed sources, are speculating that if the crisis continues in coming months, there would be no option than for the President to consider merging of the States.

Buhari, had in his recent speech, lamented that it is a shameful ‎thing for a State not to be able to meet its salary obligation.

The IGR of the 36 States of the federation totaled N682.67 billion in 2015, as compared to N707.85 billion in 2014, a drop of N25.18 billion or a minus of 3.56 percent.

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