Gombe, Jigawa, others rank top with best economic outlook among states – Report
May 8, 2024 | Article
By pspi
Gombe, Jigawa, Ekiti, Lagos and FCT have been identified as states with the best positive outlook in Nigeria for 2024, a pcl. State Performance Index (PSPI) shows.
The latest national assessment report titled “My State: Economic Potentials and Performance of States in Nigeria”, provides informational resources for understanding the socioeconomic performance and risk profiles of Nigerian states.
The survey which was conducted in 2023, engaged 6,096 respondents nationwide, representing a cross-section of Nigerian society.
The PSPI utilised four classes of indicators to assess state performance: socioeconomic performance indicators from secondary sources, socioeconomic performance from surveys, socioeconomic endowments or potentials of the state, and risk exposure.
With a PSPI score of 0.80, Gombe ranked first in the state performance index.
The Northeastern state topped the list due to its government continuity in investments and infrastructure, alignment with federal initiatives, economic diversification, and strategic agricultural programmes.
Major contributors to this achievement include robust public institutions, a secure environment, exceptional basic healthcare services, a favourable business climate, high employment rates, effective technology utilisation in governance among others.
With 88.23 billion FAAC Allocation, Jigawa stands as the second state with the best outlook, having 0.67 as its index score.
Robust infrastructure, resilient public institutions, a conducive business environment, and adequate security measures for lives and property was said to have positively influenced Jigawa’s position.
According to the report, key areas that call for more attention are the state’s low internally generated revenues, modest GDP, and the imperative to enhance literacy and employment rates.
Despite its limited resources, Ekiti took the third position as the top performing state in Nigeria with a score of 0.60.
Predominantly agrarian, Ekiti’s economy is further propelled by academia, mining, and tourism.
Ekiti thrives well due to its strong resolve in providing quality basic education and healthcare; a proactive stance against illicit economic activities; robust public institutions, the preservation of social and cultural values, and a relatively healthy Capital Expenditure to budget ratio.
But more still needs to be done to promote the well being of the people.
“Areas requiring attention include growing the level of IGR and improving the use of technology for governance,” the report indicated.
Meanwhile, Lagos State which boasts of over 659 billion internally generated revenue ranked fourth in the outlook with 0.49 PSPI score.
According to the report, Lagos stands as the best performing state both economically and socio-economically due to a robust GDP, impressive IGR, achievements in financial inclusion, high literacy rates, and prudent public debt management.
However, the report recommended that the state can do better by improving public institutions, enhancing security measures, upgrading public healthcare services, ensuring access to potable water, focusing on sanitation, curbing illicit economic activities, and preserving its rich social and cultural values.
The seat of power, Federal Capital Territory Abuja (FCTA) came as the fifth state, having 0.49 as its performance index.
FCTA grapples with urban challenges, including traffic congestion, housing shortages, and infrastructure maintenance.
