State Capital Spending Plunges as Elections Loom
Nigeria’s state governments have abruptly tightened their purse strings. Capital expenditure across 26 states fell by 58% in the first quarter of 2026, dropping to N1.59tn from N3.79tn in the previous quarter. This N2.2tn contraction signals a sharp pivot away from infrastructure as the 2027 general elections approach. While roads and hospitals wait, political alignments…