Lagos Dominates State Revenue as FCT Debt Surge Exposes Nigeria’s Fiscal Divide
Nigeria’s latest state finance figures are exposing a growing fiscal divide between Nigerian states. In 2025, the 36 states and the Federal Capital Territory generated about ₦4.15 trillion in internally generated revenue, but Lagos State generated 45% of subnational IGR, highlighting how heavily Nigeria’s domestic revenue base depends on one state. At the same time,…