APPRAISAL OF FINANCING STRUCTURES FOR COMMUNITY DEVELOPMENT IN SOUTH WESTERN NIGERIA

Abstract

The development of local communities is generally an issue of global concern. This is also the 
case in South Western Nigeria, where most community development programmes in rural areas 
are usually truncated due to inadequate finances. In this regard, this study was conducted to assess 
the financing structures of community development in the region. The study employed expository 
and descriptive research techniques in carrying out this appraisal. Using data from annual budgets 
in the region from 2019 to 2023, the results revealed that among the states in the region, Lagos 
State recorded the highest internally generated revenue and statutory allocation from the federal 
government, while Ekiti State has the least. In terms of recurrent and capital expenditure, Lagos 
State also has the highest, while Ekiti State has the least. Based on these, the study recommends 
that communities in Southwest Nigeria should support the efforts of the state and local 
government by imposing levies and informal taxes to support their community development 
efforts. In addition, communities can reach out to philanthropists within the community to donate 
for community development or engage private institutions for project concession.