Phillips Consulting Limited (pcl.) has released a revised edition of the 2026 pcl. State Performance Index (pSPI), incorporating newly available FY2025 audited financial statements. This revision supersedes the initial 2026 pSPI released on 23 July 2026. The update reflects pcl.'s commitment to ensuring its research remains grounded in the most current and robust evidence available. The initial 2026 edition was developed using FY2024 audited financial statements, which were the most recent available at the time.
The revised 2026 pSPI introduces several methodological improvements to provide a clearer view of state performance. The assessment now separates the measurement of current performance from the measurement of performance trajectory. A Performance Snapshot shows where each state currently stands, while the Rank Trajectory shows how its position has changed across the 2024, 2025, and 2026 editions. Movement is now measured by change in performance rank rather than differences in scores.
The financial assessment in the revised 2026 pSPI has been updated to use FY2025 audited accounts, replacing the FY2024 figures used in the initial 2026 edition. In assessing debt sustainability, the revised methodology considers both debt per capita and debt relative to state revenue, providing a more balanced view of state indebtedness. The Index has also strengthened its assessment of financial transparency by evaluating the date on which each state published its audited accounts relative to the statutory deadline.
States without qualifying audited accounts are left unscored rather than assigned a zero, ensuring that the absence of qualifying data is not interpreted as a performance outcome. These refinements aim to improve the comparability, interpretability, and integrity of the Index while preserving its objective of providing evidence-based insight into state performance and progress. The revised methodology was audited in detail, and the results were recalculated to ensure accuracy.
Foluso Phillips, Chairman of Phillips Consulting, emphasized the importance of institutional discipline in research. He stated that credible research requires more than publishing findings; it requires the discipline to interrogate the evidence behind those findings. When new audited information became available and a review identified areas for strengthening, the responsible course was to undertake that review rigorously and publish the resulting improvements.
Olawanle Moronkeji, Chief Operating Officer of Phillips Consulting, noted that the revision reinforces the value of the Index to stakeholders who rely on it to understand Nigeria's subnational performance landscape. The revised edition gives stakeholders a clearer lens for making distinctions and extracting more meaningful insight from the Index. Victor Mba, Senior Managing Consultant, Public Sector, Phillips Consulting, highlighted the technical rationale behind the changes.
The revised 2026 pSPI does not alter the purpose of the Index or the importance of measuring state performance through multiple dimensions. Rather, it strengthens how the available evidence is interpreted and presented. As part of the changes, pcl. is establishing a new publication cycle for the pSPI, which will be published after July 31st each year, allowing the assessment to draw on audited financial statements for the immediately preceding financial year.
Key points
- The revised 2026 pcl. State Performance Index incorporates newly available FY2025 audited financial statements and strengthens its methodology to assess state performance across Nigeria.
- The revised Index separates the measurement of current performance from the measurement of performance trajectory, providing a clearer view of state performance.
- The revised 2026 pSPI will be published after July 31st each year, allowing the assessment to draw on audited financial statements for the immediately preceding financial year.
