FG Withholds Allocations from Rivers and Other States to Cover Foreign Debt
Since President Bola Tinubu took office, state allocations have increased due to the removal of subsidies and exchange rate reforms. The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that the federal government withheld a significant N800 billion from state allocations in 2024 to service foreign debts and fulfill other contractual obligations. Lagos state lost […]