As Nigeria intensifies its pursuit of fiscal independence, a brand new technology of Finance Commissioners is rising as key drivers of Internally Generated Income (IGR) throughout the states.
These leaders, drawn from numerous backgrounds in banking, regulation, academia, and public service, are implementing daring reforms and leveraging their experience to reshape state economies.
From Lagos to Kano, Enugu to Kwara, their strategic interventions are strengthening monetary resilience and decreasing dependence on federal allocations.
IGR stays a cornerstone of subnational financial sustainability, sourced from a wide range of channels together with Pay-As-You-Earn (PAYE), Ministries, Departments, and Companies (MDAs), direct evaluation, street taxes, stamp duties, capital positive aspects tax, withholding tax, and native authorities revenues. The effectiveness of those income streams relies upon closely on the insurance policies and methods put in place by Finance Commissioners, who function architects of fiscal technique and institutional reform.
In 2024, Nigeria’s 36 states and the Federal Capital Territory (FCT) collectively generated N3.633 trillion in IGR, a major rise from N2.426 trillion in 2023.
Notably, 10 states accounted for N2.502 trillion of this whole, representing 68.88% of the nationwide determine. Though the FCT was initially among the many prime performers, it was excluded from this rating as a consequence of its distinctive administrative construction, which lacks a chosen Commissioner for Finance.
The function of Finance Commissioners extends past income assortment—they’re central to designing and executing insurance policies that align with every state’s growth objectives. Their choices on taxation, levies, and monetary laws decide how successfully a state can mobilize home assets. By integrating digital methods, streamlining compliance, and fostering inter-agency collaboration, these leaders are reworking the fiscal panorama of their states.
Listed here are the highest 10 Finance Commissioners primarily based on the interior income generated by their respective states in 2024.
Dr. Hauwa Nuru turned Kwara State’s Commissioner for Finance in 2023, bringing over 30 years of expertise throughout banking, vitality, and technique. Beneath her management, the state’s IGR rose by 19.45%, from N59.6 billion to N71.19 billion in 2024.
She beforehand served as Basic Supervisor of Finance at Eko Electrical energy Distribution Firm, the place she led transformative initiatives in income cycle administration and vitality audits.
Nuru holds a Doctorate in Enterprise Administration and an MBA in Finance from Ahmadu Bello University. Her cross-sector experience is driving Kwara’s monetary modernization.