Enugu: Governor Peter Mbah has disclosed that Enugu State received ₦230 billion from the Federation Account Allocation Committee (FAAC) in 2025, underscoring the state’s improved fiscal standing and providing a foundation for his administration’s ambitious development agenda
The governor disclosed this during the presentation of the 2026 budget to the State Assembly on Tuesday in Enugu.
Highlighting the 2025 budget performance, Mbah said the state assembly approved a budget of N971 billion, adding that the funds came into Enugu State in ways the state had never witnessed before.
According to him, FAAC inflow not only met expectations but exceeded them by more than half, as the state projected about N150 billion from FAAC but eventually received N230 billion, which is over 50 per cent above projection.
“This is not accidental. It reflects the impact of President Bola Tinubu‘s bold economic reforms, such as the removal of fuel subsidies, the unification of foreign exchange rates, and other fiscal measures, which have strengthened our key macro indicators.
“We can see today that inflation has declined and it continues to trend downward, interest rates have eased, the exchange rate has stabilised, and our foreign reserve has continued to be strengthened and recently hit the over N46 billion mark.
“On our own end, our Internally Generated Revenue (IGR) is set to exceed N400 billion by the end of this year. It is not yet where we ultimately want it to be,” Mbah said.
He described the amount as the highest IGR in the history of Enugu State, which was a 221 per cent increase over the 2024 IGR.
“Although by the end of the fourth quarter of 2025, we would have brought together a total revenue of N826 billion,” he stressed.
Given the breakdown of revenue performance in 2025, Mbah said,
“Our recurrent revenue was originally budgeted and is primarily from FAAC and IGR.
“We have budgeted N692 billion, but what we actually got from both FAAC and IGR is N676 billion, which is 97.7 per cent performance.
“In our capital receipts, we budgeted N278 billion, and we actually received N150 billion, which is 53.7 per cent, making the total inflow N826 billion with a performance of over 85 per cent,” he said.
On expenditure, the governor said his government spent N138 billion on salaries, pensions and essential government services, which were about 92 per cent of its planned spending for 2025.
He added that his administration invested N667 billion in capital projects such as roads, schools, hospitals, water infrastructure, terminal infrastructure and others.
“We have delivered about 83 per cent of the overall budget. Almost everything we planned for 2025 is already in place. This does not mean that the remaining projects have stalled.
“It simply means that they are in motion, with the largest ones peaking. So November and December are going to be the peak of those projects,” Mbah said.
Gov Mbah presented an appropriation bill of N1.62 trillion for the 2026 fiscal year.
