BUSINESS
MORNING RECAP: 26 STATES STRUGGLE WITH IGR
At least 26 Nigerian states were unable to generate enough internally generated revenue to cover their personnel costs in 2025, highlighting their continued dependence on allocations from the Federation Account.
An analysis by The PUNCH, based on a BudgIT report covering 34 states, showed that only Lagos, Enugu, Ogun, Delta, Kaduna, Kwara, Abia and Anambra generated IGR above their personnel expenditure.
Meanwhile, Bauchi South Senator, Shehu Buba, denied renewed allegations linking him to banditry. The senator described viral videos and claims circulating on social media as a campaign of disinformation and character assassination. He has consistently denied previous allegations connecting him to suspected bandits.
In Osun State, Governor Ademola Adeleke has ordered an investigation into the disputed kingship of Koka town in Obokun Local Government Area. The governor also commenced his vacation, according to a statement from his spokesperson.
The Osun governorship election petition tribunal also received no petition challenging the outcome of the August 15 election before the 21-day deadline expired on Saturday. None of the 14 defeated parties filed a challenge within the stipulated period.
In another development, the Federal Government approved a new pensionable salary structure for the Armed Forces, with generals, admirals and air chief marshals placed at an annual gross pensionable salary of N29.75m, equivalent to about N2.5m monthly. The structure took effect from September 1, 2026.