2024 States Subsidy Utilization Report : A Visual and Analytical Review of States 2024 Financial Audited Reports

This report assesses how Nigeria’s 36 states responded to the 2024 revenue windfall following fuel subsidy removal. In 2024, states received ₦12.1 trillion, which represents 78.2 percent of the total allocations from 2020 to 2023. The analysis compares state finances over the five-year period, focusing on Internally Generated Revenue (IGR), capital and recurrent expenditure, loan management, and debt profiles.