
Ekiti State is known as the land of honour and integrity. Despite being a relatively small state, it has a high literacy rate and produces many of Nigeria's academics and professionals. The state government is focused on improving education infrastructure and agricultural productivity.
Key observations from Ekiti State State's 2024 budget
Ekiti State State's total budget for 2024 is ₦215.00 Billion. This budget is perfectly balanced.
The largest single sector allocation is education, receiving ₦68.00 Billion. This accounts for 31.6% of the total budget.
The primary source of revenue is faac, contributing ₦138.00 Billion. This represents 64.2% of the total expected revenue.
Common budget terms explained
Internally Generated Revenue. Money collected by the state internally (taxes, fines).
Federation Account Allocation Committee. Funds distributed from the federal government.
Money spent on long-term physical assets like roads, schools, and hospitals.
Money spent on day-to-day operations like salaries and overhead costs.
When a state plans to spend more money than it expects to collect in revenue.