The State of States 2025 marks a decade of fiscal analysis of Nigeria’s 36 states, offering a unique perspective on subnational growth, decline, and middling performance. Over ten years, BudgIT has tracked how states mobilise resources, manage debt, and allocate revenues, providing clear evidence of successes, failures, and stagnation. This long-term view is especially critical at a time when increased federal allocations, fuel subsidy removal, and tax reforms have expanded fiscal space for states, but without corresponding improvements in service delivery. Despite more funds, poverty, inflation, and weak infrastructure still constrain productivity and economic growth, underscoring the urgency for states to rethink fiscal strategies.

The 2025 report goes beyond revenue numbers to uncover structural weaknesses, leakages, and governance lapses while highlighting innovations in taxation, non-tax revenue, and debt management across states. It provides an in-depth examination of how subnational fiscal decisions impact health, education, water, infrastructure, and ultimately the lives of citizens. By spotlighting states that have leveraged reforms successfully and those still tied to “feeding bottle federalism,” the report presents a decade-long roadmap of lessons and actionable strategies for building stronger, more resilient fiscal systems that can drive inclusive development.