States Generate N691.11bn As IGR In H1 2019

...Lagos leads with N263.25bn

Latest data from the National Bureau of Statistics (NBS) has shown that a total of N691.11 billion was generated by the 36 states and the Federal Capital Territory (FCT) as Internally Generated Revenue (IGR).

According to the report made available on its website on Friday, the amount was generated in the first half of this year (January – June 2019).

When compared to the N596.91 billion recorded in the second half of 2018, there was an increase of N94.2 billion, which indicated a growth of 15.78%.

The report added that 31 states and the FCT recorded growth in Internally Generated Revenue (IGR), while five states recorded a decline in IGR in the period under review.

States Generate N691.11bn As IGR In H1 2019

According to NBS, the net Federation Accounts Allocation Committee (FAAC) allocation in the first half of the year is put at N1.20 trillion, while the total revenue available to the states including the FCT is put at N1.89 trillion.

It, however, said that the value of foreign debt stood at 4.23 billion dollars, while domestic debt hit N3.85 trillion at the end of 2018.

The bureau said that the IGR was derived from Ministries, Departments and Agencies’ (MDAs) revenues, Direct Assessment, Pay As You Earn (PAYE), Road Taxes and other Taxes.

The data showed that Lagos state led the collection table with N263.25 billion, while Rivers collected N151.8 billion, Delta N145 billion, Akwa Ibom N106.7 billion and FCT N72.8 billion.

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