Tag: state finances

  • Rivers assembly rejects N100,000 Christmas credit, cites due‑process breach

    Rivers assembly rejects N100,000 Christmas credit, cites due‑process breach

    2025-12-31 09:14:00

    In a report published by PUNCH, members of the Rivers State House of Assembly said they rejected—and moved to return—N100,000 credited to each lawmaker’s account as a Christmas bonus, arguing it did not follow proper authorisation.

    The lawmakers framed the transfer as an ‘unapproved’ payment and linked it to the wider political standoff in the state, insisting the executive must adhere strictly to constitutional and budget processes.

    The development adds another flashpoint to Rivers’ tense political climate, with analysts watching for how it affects governance, budgeting and the executive‑legislature relationship in early 2026.

    Vanguard reported that assembly members “have returned the N100,000 Christmas bonus given to them by the governor,” while Leadership said lawmakers “have rejected the N100,000 Christmas Bonus credited to their personal bank accounts.”

    Echotitbits take: Beyond the headline, this is a proxy fight over legitimacy and control of state institutions. Expect more legal manoeuvres and competing public narratives. Watch whether public finance processes (appropriation, releases, oversight) become the next battleground.

    Source: The Punch — December 31, 2025 (https://punchng.com/rivers-lawmakers-reject-fubaras-n100000-christmas-bonus/)

    The Punch December 31, 2025

    Photo Credit: The Punch

  • FAAC windfall helps states cut bank exposure by over ₦547bn in one year

    FAAC windfall helps states cut bank exposure by over ₦547bn in one year

    Photo Credit: The Punch
    2025-12-27 06:00:00

    In a review published by Punch, Nigerian states and local governments reportedly reduced bank borrowing by about ₦547.5bn over the past year as federation revenue inflows improved.

    The story suggests higher allocations gave some subnational governments room to refinance or repay costly short‑term facilities, easing pressure on monthly deductions and debt‑service burdens.

    However, analysts note that debt reduction is only durable if states also strengthen internally generated revenue and curb recurrent leakages, especially as oil‑linked inflows remain volatile.

    Echotitbits take:
    This is a rare “good-news” fiscal signal, but it can reverse fast if FAAC cools or spending balloons. Watch the next quarter’s allocations, states’ IGR trends, and whether repayment coincides with better capital spending rather than fresh borrowing.

    Source: The Punch — December 27, 2025 (https://punchng.com/states-lgs-repay-n547-5bn-bank-debts/)
    The Punch December 27, 2025