The National Bureau of Statistics (NBS) today revised upwards the 2017 Internally Generated Revenue (IGR) by the 36 states of the Federation by about N5.2 billion following the receipt of Osun State’s Q4 2017 IGR figures.
With the computation of the state’s last quarter IGR accruals, the total IGR generated by the 36 states for the year under review stood at N936.4 billion as against the N931.2 billion earlier reported by the bureau.
The NBS reported that with the update of Osun State’s Q4 IGR figures, it meant its IGR value and growth over 2016 for full year stood at N11.7 billion and 32.04% respectively compared to N6.4 billion and -26.9% , earlier published which relates to the state’s IGR up to Q3 2017.
It stated further: “This also affects rankings of states with respect to IGR value and growth rate over 2016 and total States IGR which moves to N936.4 billion and growth of 13.7% compared to N931.2 billion and 13.13% published earlier when only Q3 2017 IGR was available for Osun,
“The full year figure now available for Osun means the attached report is now complete for all 36 State and consequently the updated report attached replaces the earlier one published”, the Bureau added.
The Bureau had penultimate week reported that 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 with Osun State’s improved IGR over 2016 figures, 32 states recorded growth in IGR while four states which includes, Akwa Ibom , Anambra , Bauchi 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.