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States’ IGR Hits N931.23bn In 2017, Lagos Tops With N333.97bn

The National Bureau of Statistics (NBS) today published the Internally Generated Revenue (IGR) by the 36 states for the fiscal year 2017 totalling N931.23 billion.

When compared to N831.19bn recorded in year 2016, the latest IGR figures indicate a growth of 12.03% year on year.

According to the Bureau, at the end of second half of  2017, total revenue generated by states was put at N432.65 billion as against N409.09 generated at the end of the first half of the year.

A further analysis of the IGR spread showed that  31 states recorded growth in IGR while five states which includes, Akwa Ibom , Anambra , Bauchi, Osun and Taraba recorded a decline at the end of 2017 Fiscal Year.

Some of the states’ IGR figures showed that while Lagos topped the collection chart with N333.968 billion collected as IGR in the year under review, Rivers came second with N89.485 billion collection. Ogun State raked in N74.836 billion while Kano collected N42.419 billion during the fiscal year.

Similarly, Delta State  improved its IGR collection to N51.888 billion during the year, up from the N44.058 billion it generated internally in 2016. Kaduna collected N26.531 billion, representing about 15.23% improvement over its 2016 collection which stood at N23.024 billion. Bayelsa collected N12.523 billion IGR in the year under review compared to Borno State’s N4.983 billion.

Some of the states that did not improve their revenue collection during the year are, Anambra State which raked in N17.365 billion as against its N23.269 billion collection in 2016; Akwa Ibom’s collection dropped from N23.269 billion in 2016 to N15.956 billion last year while Bauchi State also suffered significant drop in IGR , recording 49.65% drop from N8.677 billion in 2016 fiscal year to N4.368 billion last year.

The NBS also reported that  the net allocation to the 36 states from the Federation Accounts totaled in N1.73 trillion last year while the total revenue available to the states stood at N2.67 trillion.

However, the agency noted that  the value of the sub-national governments’ foreign debt stood at $19.9 billion at the end of last year while domestic debt rose to N3.35 trillion at the end of the year.

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