Lagos Remains Nigeria’s Most Solvent State Despite Liveability Challenges

Lagos Remains Nigeria’s Most Solvent State Despite Liveability Challenges

Author: Africa Business Radio September 13, 2021 Duration: 26:32
News Express
Business
A report by Economic Confidential on annual states viability index 2020 has shown that Lagos, Nigeria’s Financial Capital, with a sub-national gross domestic product in excess of $50.83 billion, is the most solvent and viable state in Nigeria year-to-date.
For the fifth year running, the littoral state with aquatic resources has led in the Nigerian states’ annual viability index.
According to the ASVI computation, Lagos, which is by far an industrial behemoth, can pull along successfully without the monthly disbursements from the Federation Accounts Allocation Committee.
But this is not the case with eight other states: Adamawa, Benue, Jigawa, Katsina, Niger, Taraba, and Yobe, described as economically insolvent and unviable, and cannot survive without the federal monthly envelope, due to their very low IGR accretion compared to their FAAC receipts.

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