In a recent development on April 23, former Kogi State Governor Yahaya Adoza Bello, alongside Ali Bello, Dauda Suleiman, and Abdulsalam Hudu, faced prosecution by the Economic and Financial Crimes Commission (EFCC) on 19 counts related to money laundering, related to a total sum of N80,246,470,089.88k (N80.25 billion).
Bello, initially selected by the All Progressives Congress (APC) in 2015 to succeed the late Abubakar Audu, later secured election in 2019, concluding his second and final term in January of the following year.
From 2016 to 2024, he served as Kogi State’s Governor for a total of 8 years. There is a worrying claim regarding the state’s underdevelopment despite the revenue accrued to the government during Bello’s administration.
This report examines the total revenue received by the Bello administration.
Kogi State’s financial landscape reflects a significant reliance on Federal Accounts Allocation Committee (FAAC) allocations, as outlined in Dataphyte’s analysis.
Over the period spanning 2016 to 2022, the state’s total revenue amounted to N448.48 billion, with FAAC contributions constituting 76% (N340.06 billion) and Internally Generated Revenue (IGR) accounting for 24% (N108.42 billion).
Notably, the state’s total yearly expenditure, inclusive of FAAC and IGR, has never surpassed N80 billion during Bello’s tenure, with 2021 marking the closest estimate at approximately N77.79 billion.
Recent projections indicate a substantial increase in state revenues, with states set to receive N2.24 trillion more than in 2023, totalling N3.3 trillion.
This surge is attributed to enhanced revenue streams, including earnings from oil exports, taxes, and other statutory allocations, following policy shifts such as subsidy removal.
Under the current revenue-sharing model, the federal government receives 52.68%, while states and local governments receive 26.72% and 20.60%, respectively.
This upward trajectory in revenue distribution is mirrored in Kogi State’s FAAC allocations, which experienced a 175% increase compared to the beginning of Bello’s administration.
These developments underscore a notable shift in Kogi State’s financial profile amidst broader changes in national revenue distribution dynamics.
A state’s revenue is a vital tool for driving social and infrastructural development within a state. It empowers the government with the resources necessary to make informed decisions aimed at meeting the fundamental needs of its citizens.
It is left to see what Mr Ododo, like his current colleagues, would do with the current upsurge in State revenues from the federation account.
In retrospect, it is left to see whether Mr Bello really embezzled more than his state’s total revenues in any of the years during his 8-year tenure.