Economy

IGR of states drop by 11.7 percent- NBS report

The current report by National Bureau of Statistics (NBS) states that the internally generated revenue (IGR) of Nigeria’s 36 states and the federal capital territory dropped by 11.7 percent in the first half of the year.

The internally generated revenue recorded in the first half-year of 2020 is N612.87 billion. According to the report, this figure is lower when compared to N693.91 billion recorded in 2019.

“The 36 states and FCT IGR figure hits N612.87bn in H1 2020 compared to N693.91bn recorded in 2019. This indicates a negative growth of -11.7% year on year,” the report read.

The data was computed by the NBS in conjunction with the joint tax board headed by the Federal Inland Revenue Service (FIRS).

The report noted that Lagos has the highest internally generated revenue of N204.5 billion, representing 33.37 percent of the total IGR figure.

Despite recording the largest share, the IGR of south-west states dropped marginally by 0.3 percent as states recorded N205.1 billion in H1 2019.

Lagos is followed by Rivers with N64.58 billion (10.54 percent); FCT N35.2 billion (5.74 percent); Delta with N30.8 billion (5.03 percent); and Ogun with N28.6 billion (3.86 percent).

Oyo, Kano, Akwa Ibom, Kaduna and Edo ranked sixth, seventh, eight, ninth and tenth respectively.

Jigawa generated the least IGR (N3 billion) in the first half-year of 2020, followed by Ekiti with N3.2 billion, Adamawa with N3.75 billion and Gombe with N3.78 billion.

The report also noted that a decline was recorded in the 2020 second quarter revenue generated internally across the states.

The IGR recorded in the second quarter was less than what was generated in the first quarter.

According to the report, states generated N353.14 billion in the first quarter and N259.73 billion in the second quarter

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