SAT, 15 OCT, 2022-theGBJournal| Lagos and FCT recorded the highest collections in 2021 with N753.46 billion and N131.92 respectively, according to latest Internally Generated Revenue at State Level report by the National Bureau of Statistics (NBS).
The breakdown shows that Lagos State generated, on a monthly basis, at least a total of N63 billion, putting it way ahead of its peers and among the top 4 economies in Africa.
Again, in 2020, Lagos revenue stood top with N659.99 billion, followed by Rivers with N117.19 billion.
Lagos State recorded the highest Internally Generated Revenue in 2019 with N646.61billion, followed by Rivers with N169.60 billion.
Combinedly, the Internally Generated Revenue at the State level for 2019 stood at N1.64 trillion with a 64.65% share of tax revenue. The revenue declined by 4.65% in 2020 when the IGR was N1.56trillion. However, the proportion of tax revenue in 2020 rose to 66.16%. The total IGR in 2021 stood at N1.90trillion, indicating a growth rate of 21.54% over 2020 revenue collections.
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