A total of N849.123bn has been generated as Internally Generated Revenue (IGR) by the half year of 2021 by the 36 states and the Federal Capital Territory.
In a report released for the first two quarters of year 2021 by the National Bureau of Statistics (NBS), it was disclosed that N398 billion was generated in the first quarter of 2021 and N450bn in the second quarter.
The IGRs as generated by the States was classified into five subheads of:
– Direct Assessment,
– Road Taxes,
– Other Taxes and
– Revenue from Ministries, Departments and Agencies (MDAs).
The report stated that Lagos State had the highest IGR with N267bn followed by the FCT with N69bn and Rivers, N57bn.
The IGR of other states within the period under review were:
Akwa Ibom, N18bn;
Cross River, N14.7;
Kaduna, N26.4bn and
Yobe, N4bn and
The report added that Pay-As-You-Earn (PAYE) contributed the highest amount to the states with N488bn, followed by revenue from MDAs, N173bn with Road Tax contributing the lowest with N16bn.
The report stated that the IGR by the six geo-political zones in the period under review, showed that South West recorded the highest revenue of N385,414,274,922.27; South-South, N156,171,326,501.04; while the North-East zone recorded the least internally generated revenue with N42,915,002,928.39 billion.