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Governors’ Travel, Office Expenses Hit N512bn

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State governments spent at least N512.10 billion on Government Houses, governors’ offices and travel-related expenses in the first half of 2026, according to an analysis of available state budget implementation reports.

The expenditure, drawn from 33 states with usable records, highlights the large amount of public money committed to running the executive offices of state governments, even as governors’ official salaries remain relatively small compared with the overall cost of maintaining their offices.

The N512.10 billion total comprises N420.01 billion spent under Government House, Governor’s Office and related executive administration budget heads, while another N92.09 billion went to travel and transport during the first six months of the year.

By comparison, the official monthly salary of a state governor is N503,000. That amounts to N3.018 million for six months, meaning the combined salary of all 36 governors over the same period would be about N108.65 million.

The comparison shows that the combined six-month salaries of the governors accounted for only about 0.02 per cent of the N512.10 billion identified as spending on executive offices and travel.

The figures, however, do not represent money personally received by governors.

Government House and Governor’s Office expenditure covers a wide range of costs associated with running the executive arm of government, including administrative activities, staff, official residences, utilities, maintenance, protocol, security-related operations and state functions.

Similarly, the travel and transport category covers official local and international trips, transportation and related costs incurred across the wider state public service.

The figures nevertheless provide an indication of the broader cost attached to maintaining the institutions and privileges surrounding the offices occupied by governors.

The analysis was based on first- and second-quarter 2026 Budget Implementation Reports, using the largest identifiable Government House, Governor’s Office or executive administration expenditure line in each state alongside the general travel and transport head.

Complete comparable data were available for Abia, Adamawa, Bauchi, Bayelsa, Borno, Cross River, Ebonyi, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna, Kano, Katsina, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Oyo, Plateau, Sokoto, Taraba, Yobe and Zamfara. Comparable figures were not available for Edo, Osun and Rivers.

The 2026 spending represents a decline from the corresponding period of 2025 based on the available records. In the first six months of last year, N465.07 billion was recorded under Government House, Governor’s Office and similar executive administration heads, while N92.73 billion went to travel and transport, bringing the combined amount to N557.80 billion.

The 2026 figure was therefore about N45.70 billion lower, representing an 8.19 per cent reduction.

Most of the decline came from Government House and Governor’s Office expenditure, which dropped from N465.07 billion in the first half of 2025 to N420.01 billion in 2026. That represents a reduction of N45.05 billion, or 9.69 per cent.

Spending on travel and transport, however, barely changed. The amount declined from N92.73 billion in the first half of 2025 to N92.09 billion in 2026, a difference of about N643.66 million or 0.69 per cent.

The figures therefore suggest that while some states reduced expenditure associated with Government Houses and executive administration, spending on official movement and transportation remained relatively stable.

A development economist, Aliyu Ilias, said the figures demonstrated why looking only at governors’ basic salaries gave an incomplete picture of the financial cost associated with political offices.

“Ordinarily, anything that has to do with executive office in Nigeria appears to be much more expensive because they actually direct how it works there. And with the docile state assemblies we have, who always concur, it is clear that our democracy is very expensive because of the way we maintain their offices, and that is why it is very juicy,” Punch Newspaper quoted Ilias.

He said the broader benefits and expenses attached to the office should be considered when comparing governors with senior civil servants.

“Some even want to go as far as borrowing money to win an election and, when they enter office, they believe they are going to repay the money. So, it is not correct to say that a Permanent Secretary is earning better than a governor when you isolate the governor’s salary without adding the other travel perks and expenses attached to the office,” he said.

Ilias also criticised the argument that governors are poorly paid based solely on their official salaries.

“The governor just wanted to be sensational. But with the addition you have done, it shows that they are taking the bigger cheque from the spending arising from the high income that the state is generating,” he said.

Kogi State recorded the highest identifiable Government House and Governor’s Office expenditure in the 2026 data, with N65.34 billion spent during the period.

Ogun followed with N45.26 billion, while Lagos recorded N45.04 billion. Kano accounted for N25.87 billion, Ekiti N25.22 billion and Cross River N23.92 billion.

Bayelsa recorded N22.99 billion, Imo N19.43 billion and Enugu N16.20 billion.

At the other end of the available figures, Oyo recorded about N1.95 billion under the relevant executive expenditure head, followed by Sokoto with N2.20 billion, Kwara with N2.59 billion and Abia with N2.78 billion.

Kogi’s N65.34 billion represented more than 15 per cent of the identifiable Government House and Governor’s Office spending captured in the dataset.

The pattern was different when travel and transport expenditure was examined.

Plateau recorded the highest identifiable spending in that category, with N10.11 billion during the first six months of 2026. Lagos followed with N8.23 billion, while Taraba recorded N5.16 billion.

Niger spent N4.45 billion, Ekiti N4.41 billion and Bauchi N3.75 billion. Yobe recorded N3.68 billion.

Oyo was among the states with the lowest identifiable travel and transport expenditure at N667.52 million, while Kano recorded N626.95 million.

There were also significant differences in spending patterns between states when the 2025 and 2026 figures were compared.

Kogi’s Government House and Governor’s Office expenditure rose from N51.99 billion in the first half of 2025 to N65.34 billion in 2026, an increase of about N13.34 billion or 25.66 per cent.

Bayelsa recorded an increase from N14.48 billion to N22.99 billion, representing a rise of N8.51 billion or 58.75 per cent.

Cross River recorded one of the sharpest increases, with spending rising from N9.91 billion to N23.92 billion, an increase of about N14.01 billion or 141.37 per cent.

Lagos also recorded a major increase, moving from N25.86 billion in the first half of 2025 to N45.04 billion in 2026. That represents an increase of about N19.18 billion or 74.16 per cent.

Other states recorded reductions. Ogun’s spending under the relevant Government House and Governor’s Office head fell from N49.83 billion in 2025 to N45.26 billion in 2026, a decline of N4.57 billion or 9.17 per cent.

Kano’s expenditure also fell from N28.84 billion to N25.87 billion, representing a reduction of about N2.98 billion or 10.32 per cent.

Niger, however, recorded an increase from N13.13 billion to N14.15 billion, representing a rise of about N1.02 billion or 7.74 per cent.

The spending comes amid continuing discussions about the remuneration of political office holders in Nigeria.

The Revenue Mobilisation Allocation and Fiscal Commission is constitutionally responsible for determining the remuneration of governors and other political office holders. The existing remuneration structure remains in place while a broader review is being considered by the relevant authorities.

RMAFC has recently said its review of the remuneration of executive and legislative office holders had reached an advanced stage, with proposed legislation expected to be presented to the National Assembly.

The level of state spending is also coming under greater scrutiny as governments receive increased allocations from the Federation Account following economic reforms implemented by the Federal Government.

Available Ministry of Finance data previously showed that N47.25 trillion was distributed through the Federation Account between 2023 and 2025. That amount represented more than half of the N93.13 trillion shared across the nine-year period from 2017 to 2025.

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Business

Transcorp, AXA Mansard, GTCO top stock pick this week

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Nigerian stocks slid by 1.6 per cent last week, following profit-taking activities across all sectors except oil & gas.

The Insurance Index was worst hit, declining by 5.5 per cent, and remains the only sector index so far this year with a negative yield.

“Stocks with strong earnings, attractive valuations and consistent dividend payouts should also remain in focus,” investment bank United Capital Plc said in a note to investors ahead of the week.

This week, focus will shift to the primary market, where the landmark $1.6 billion initial public offering of Dangote Refinery will be commencing.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

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The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

Transnational Corporation (Transcorp)

Transcorp tops this week’s list for its strong fundamentals and for trading below its intrinsic value. The net profit ratio (NPR) of the conglomerate is 24.7, while the price-to-earnings (PE) ratio is 4.5x. Its 10-day relative strength index (RSI) is 31.5.

AXA Mansard

AXA Mansard appears on the pick on the basis of its attractive fundamentals. The NPR of the insurer is 3.4, while the PE ratio is 29.8x, while the RSI is 47.3.

Guaranty Trust Holding Company (GTCO)

GTCO makes the selection for its strong fundamentals and for trading below its intrinsic value. The banking group’s NPR is 37.4, while the PE ratio is 5.4x. Its RSI is 47.8.

ALSO READ: Stanbic IBTC, Mutual Benefits, Aradel top stock picks this week

NPF Microfinance Bank

NPF Microfinance Bank makes the cut for its sound fundamentals. The PE ratio of the micro-lender is 7.2x, while the RSI is 22.5.

Neimeth

Neimeth makes the cut for its sound fundamentals. The NPR of the pharmaceutical company is 12.2, while the PE ratio is 33.2x. The RSI is 40.8.


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2027: Why Tinubu had no primary, secondary school certificates – Reno Omokri

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Reno Omokri, ambassador-designate to Mexico, has defended President Bola Tinubu over questions surrounding his primary and secondary school education, saying many Nigerians of his generation did not attend regular schools.

Omokri made the statement on Sunday while appearing on Channels Television’s Politics Today programme.

He said some Nigerians were homeschooled during the period when Tinubu would have attended primary and secondary school, arguing that the absence of conventional school certificates should not be a major issue.

“Are you aware that at the time the president went to primary school, at the time the president would have gone to primary school, secondary school, most Nigerians were not going to regular schools; a lot of them were being homeschooled,” Omokri said.

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He challenged critics questioning Tinubu’s educational background to produce evidence of their own primary school classmates.

“If you ask some of these opponents of the president to produce their primary school classmate, they cannot,” he said.

Omokri also cited his own family as an example, noting that his child is homeschooled and that his Ethiopian wife was also homeschooled.

He maintained that Tinubu is qualified to hold the presidency and seek re-election in 2027.

“We know for a fact that the president is qualified for the position he’s holding, for the position he wants to be reelected to,” he said.

On Tinubu’s tertiary education, Omokri referred to the president’s attendance at Chicago State University, saying the institution’s registrar testified in court and confirmed that Tinubu was admitted, attended and graduated from the university.

“He went to Chicago State University. The registrar of that school went to court, and they confirmed that Tinubu was admitted, attended, and graduated from that school. That is enough,” Omokri said.

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