As sub-national governments intensify their drive for improved revenues, Lagos State collected N205,163,386,767.06, representing about 29.69 percent of the IGR collected by states internally in half year 2019.
Despite the state’s huge revenue collections during the six-month period under review, Zamfara State topped the IGR table by ranking with total N7,210,062,254.23 generated, improving its IGR by 171.34%. Zamfara is followed by Kebbi State, with N4,728,501,342.76, increasing its IGR by 132.44%.
The total IGR of the states and the FCT during the review period, comprising Pay As You Earn (PAYE), Direct Assessment, Road Taxes, Other Taxes and MDAs’ Revenues stood at N691,109,342,863.76.
A further analysis of the latest National Bureau of Statistics’ (NBS’) published Internally Generated Revenue at State level for Q1-Q2 2019 showed that Rivers generated N75,974,536,695.99, Delta N36,390,689,921.88, Ogun N29,583,479,438.84, and Kaduna, the highest IGR collector in the North, raked in N22,401,973,458.00 in half year 2019.
A further decomposition of the IGR based on sources indicated that PAYE collected by the states and the FCT was N432,213,180.152.91 while Direct Assessment collections stood at N25,804,569,334.35. Others are, Road Taxes N14,530,775,704.17; Other Taxes N123,784,561,633.95; MDAs Revenues N94,776,256,038.38.
According to the official statistics producing and reporting agency, the N691.11bn IGR figure in the first half of fiscal 2019 represented 15.78 percent growth over the N596.91bn recorded in the second half of fiscal 2018 year.
The report showed further that 31 states and the FCT recorded growth in IGR while five states recorded decline in IGR at the end of first half of 2019.
Osun State raised its IGR to N10,205,102,028 during the period, representing 113.77% growth and coming third on the table by ranking; compared to Sokoto State, which also increased its IGR to N12,077,025,746.68 or 113.75% while Ondo State grew its IGR to N19,001,563.646.74, representing 101.77% increase and came fifth by ranking.
During the half year, the NBS reported further that apart from the IGR collections by the states and FCT, the net FAAC allocation to the states in H1 2019 stood at N1.20 trillion, thereby increasing the total revenue available to the states, including the FCT, to N1.89 trillion.
In addition, the bureau stated that the value of the states’ foreign debt stood at $4.23 billion while their domestic debt stock rose to N3.85 trillion at the end of the year 2018.