A new report from BudgIT reveals that aggregate revenue for 34 Nigerian states surged by 211 percent between 2022 and 2025, climbing to 15.53 trillion naira. This growth was largely propelled by a 232 percent increase in federal allocations following the removal of petrol subsidies and foreign exchange unification. While internally generated revenue also grew by 165 percent, states remain heavily dependent on federal transfers. Aggregate state spending rose by 187 percent to 17.88 trillion naira during the same period, indicating increased fiscal activity across the subnational level.