TUE OCT 29 2024-theGBJournal| The 36 States of the Federation and the Federal Capital Territory (FCT) generated a total of N2.43 trillion as Internally Generated
Revenue (IGR) in 2023, indicating a growth rate of 26.03 percent from N1.93 trillion recorded in 2022, according to a report published today by the National Bureau of Statistics (NBS).
The report highlights the Internally Generated Revenue (IGR) in 2023 for the 36 States and the FCT, and has two broad categories of revenues- Taxes and Ministries, Departments and Agencies’ (MDAs’) revenue.
Over all, Lagos, FCT, and Rivers states recorded the highest IGR with N815.86 billion, N211.10 billion and N195.41 billion respectively over the reference period.
Ogun and Delta are two other states with their IGR well above billion at N146.875 billion and 114.088 billion respectively.
Other states that generated reasonable IGR include are Edo (N64.671 billion), Kaduna (N62.490 billion), Kwara (N59,642 billion), Oyo (N52,745 billion), Akwa Ibom (N43.184 billion) and Ondo with N41.504 billion.
Kano, Enugu, Anambra, Ekiti, Cross River Ebonyi and Bauchi States reported IGR at a little over N30 billion during the period under review.
Taraba, Yobe and Kebbi states reported the least revenues with N10.87 billion, N11.19 billion and N11.74 billion respectively.
PAYE was the most tax revenue recorded during the period (N1.24 trillion), representing
63.83 percent of the total taxes collected, while capital gains tax was the least with
N5.91 billion according to the report.
Total taxes to total IGR stood at about 80 percent nationally.
The report was compiled by the Joint Tax Board from official records and submissions by the State Boards of Internal Revenue. The revenues are classified appropriately and aggregated.
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