IGR: Lagos, Rivers and FCT generate highest revenue – NBS

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The National Bureau of Statistics (NBS) says the 36 States of the Federation and the FCT, generated over one trillion – “a total sum of N1,925,612,626,650.76” as Internally Generated Revenue, (IGR) in the year 2022.

This grew by 1.57% compared to N1,895,786,762,263.80 obtained in 2021.

A report published by the NBS titled “Internally Generated Revenue At State Level (2022)”, showed that leading states in total IGR during the year were Lagos, Rivers, as well as the FCT with N651,145,633,085.30, N172,823,232,535.44, and N124,366,774,519.25, respectively, just like in 2021.

While the least three performing states during the year were Kebbi, Taraba and Yobe with the value of N9,146,249,907.83, N10,238,110,125.95, and N10,456,776,796.18, respectively.

Oyo, Lagos and Jigawa states were the three leading states with highest LGA revenue reported during the year.
“The states recorded N11,832,437,020.33, N11,505,586,283.35, and N8,700,993,591.78, respectively,” the report added.

 

According to repot, the 2022 IGR had two (2) major revenue sources namely; (i) Taxes (ii) Ministries, Departments and Agencies (MDAs) revenue.

 

The report further indicated that Taxes sub-category recorded in this period are PAYE, Direct Assessment, Road Taxes, Stamp duties, Capital gain tax, Withholding taxes, Other taxes and LGAs revenue.

Accordingly, “the 36 States and the FCT generated a total sum of N1,925,612,626,650.76 as IGR in 2022. This grew by 1.57% compared to N1,895,786,762,263.80 in 2021.”

PAYE was the most contributing revenue source during the year, and recorded 67.62% share to the total tax generated revenues nationwide.
While capital gains tax was the least in the year under review with 0.24% share to total tax revenue,” the report added.

 

 

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