“Nigerians Call for Relief Amid Allocation of N3.3 Trillion to States

“State Allocations Surge to N3.34tn After Fuel Subsidy Cancellation: Nigerians Call for Relief Amid Rising Hardship

According to recent data from the Federal Account Allocation Committee, statutory allocations to the 36 states and 774 local government areas witnessed a significant increase to N3.34 trillion in the period from July to December 2023, following the termination of the fuel subsidy regime. This represents a notable surge of N545 billion or 19.5% compared to the N2.79 trillion allocated in the preceding half-year period from January to June.

The National Bureau of Statistics has provided insights into this remarkable uptick in allocations, shedding light on the financial landscape of the country. However, amidst the backdrop of worsening economic conditions and heightened hardship experienced by many Nigerians, calls for relief have grown louder.

Organized labor leaders, echoing the sentiments of the populace, have voiced their concerns during interviews with The PUNCH, urging state governors to ensure that the increased allocations translate into tangible improvements in the lives of the masses. They emphasize the need for accountability and effective utilization of these funds to alleviate the prevailing hardship across the nation.

President Bola Tinubu’s decision to terminate the fuel subsidy regime, as articulated in his inaugural speech on May 29, 2023, was aimed at addressing the drain on federal allocations. While this move was intended to streamline government spending, its impact on the allocation dynamics underscores the importance of prudent fiscal management and targeted interventions to alleviate the economic challenges faced by Nigerians.”