Governor Peter Mbah has disclosed that Enugu State received a total of N230 billion from the Federal Account Allocation Committee (FAAC) in 2025, surpassing the N150 billion earlier projected in the state’s budget. The announcement came during the presentation of the 2026 budget to the State Assembly in Enugu.
Reviewing the 2025 budget performance, Mbah noted that the Assembly had approved N971 billion for the year, adding that revenue inflows into the state reached unprecedented levels. He explained that the amount expected from FAAC was significantly exceeded, with the state ultimately receiving N230 billion – over 50 percent above the earlier projection.
“This is not accidental. It reflects the impact of President Bola Tinubu’s bold economic reforms such as the removal of fuel subsidies, unification of foreign exchange rates and other fiscal measures that has strengthened our key macro indicators.
“We can see today that inflation has declined and it continues to trend downwardly, interest rates eased, exchange rate has stabilised and our foreign reserve has continued to be strengthened and recently hit 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 expected IGR as the highest in the history of Enugu State, representing a 221 percent rise over the 2024 figure. By the close of the fourth quarter, he projected that total revenue for the year would amount to N826 billion.
Providing a breakdown of the year’s earnings, the governor said: “Our recurrent revenue was originally budgeted and are largely 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 performance of over 85 per cent.”
On expenditure, Mbah stated that N138 billion was spent on salaries, pensions and essential government services, representing 92 percent of the allocation for 2025. He added that the administration invested N667 billion in capital projects, including roads, schools, hospitals, water infrastructure, and terminals.
“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 is going to be the peak of those projects,” he said.
Gov. Mbah concluded by presenting a N1.62 trillion appropriation bill for the 2026 fiscal year, attributing the state’s improved stability partly to the consistent inflow from FAAC.
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