Combined revenue for thirty-four Nigerian state governments climbed from N4.99 trillion in 2022 to N15.53 trillion in 2025, according to an analysis by BudgIT, as larger federal allocations and stronger internally generated revenue reshaped subnational finances.
The figures represent growth of roughly 211 per cent over the three-year period. Federal allocations rose from N3.43 trillion to N11.38 trillion, while internally generated revenue increased from N1.57 trillion to N4.15 trillion.
Total state expenditure also expanded during the same window, moving from N6.22 trillion to N17.88 trillion. Because revenue grew at a faster pace than spending, the data points to a modest improvement in the overall fiscal position of the states.
BudgIT linked the stronger revenue performance to several factors, including higher federal transfers, changes in the value of the naira, increased oil earnings and tax reforms introduced over the period. Nineteen of the thirty-four states more than tripled their revenues, with Enugu recording one of the strongest increases.
