South-SouthCap: Benin City

Edo State .

Governor Monday Okpebholo

Pop. ~4.7M

Total 2024 Budget

₦488,000,000,000

Edo State is steeped in history as the seat of the ancient Benin Kingdom, one of the most powerful pre-colonial empires in West Africa. Benin City is renowned worldwide for its intricate bronze artworks. The state is also an important industrial centre with significant oil production and rubber cultivation.

Metrics Overview

Capital Exp.

₦270,000,000,000

55% of total

Recurrent Exp.

₦218,000,000,000

45% of total

Total Revenue

₦488,000,000,000

Estimated income

Fiscal Balance

Balanced

Matched

Breakdowns

Infrastructure

₦125.0B25.6%

Education

₦108.0B22.1%

Health

₦88.0B18.0%

Agriculture

₦55.0B11.3%

Security

₦22.0B4.5%

Budget Insights

Key observations from Edo State State's 2024 budget

Overview

Edo State State's total budget for 2024 is ₦488.00 Billion. This budget is perfectly balanced.

Expenditure Focus

The largest single sector allocation is infrastructure, receiving ₦125.00 Billion. This accounts for 25.6% of the total budget.

Revenue Dependency

The primary source of revenue is faac, contributing ₦282.00 Billion. This represents 57.8% of the total expected revenue.

Glossary

Common budget terms explained

IGR

Internally Generated Revenue. Money collected by the state internally (taxes, fines).

FAAC

Federation Account Allocation Committee. Funds distributed from the federal government.

Capital Exp.

Money spent on long-term physical assets like roads, schools, and hospitals.

Recurrent Exp.

Money spent on day-to-day operations like salaries and overhead costs.

Deficit

When a state plans to spend more money than it expects to collect in revenue.