From 2019 to 2021, the 36 States of the Federation and the Federal Capital Territory (FCT) realised N5.1 trillion internally generated revenue.
The National Bureau of Statistics (NBS) disclosed this in its document titled: “Internally Generated Revenue At State Level (2019-2021).”
According to the data, the the states raked in N1.64 trillion in 2019, in 2020, they realized N1.56 trillion and N1.90 trillion in 2021.
The revenue collections which in 2019 was 64.65% share of tax revenue, dipped by 4.65% in 2020 and rose 66.16% and again soared by 21.54% in 2021.
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NBS said: “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.”
On state profile analysis, said NBS, Lagos State recorded the highest Internally Generated Revenue in 2019 with N646.61billion, followed by Rivers with N169.60 billion.
Continuing, it noted that “again, in 2020, Lagos revenue stood top with N659.99 billion, followed by Rivers with N117.19 billion. Furthermore, Lagos and FCT recorded the highest collections in 2021 with N753.46 billion and N131.92 billion respectively.”
The total revenue that Lagos State generated in the period under review was N2.0 6trillion, which was 40% of the sum.