The National Bureau of Statistics (NBS) says the 36 States of the Federation and the FCT, generated over one trillion – “a total sum of N1,925,612,626,650.76” as Internally Generated Revenue, (IGR) within the yr 2022.
This grew by 1.57% in comparison with N1,895,786,762,263.80 obtained in 2021.
A report revealed by the NBS titled “Internally Generated Revenue At State Level (2022)”, confirmed that main states in whole IGR in the course of the yr have been Lagos, Rivers, in addition to the FCT with N651,145,633,085.30, N172,823,232,535.44, and N124,366,774,519.25, respectively, identical to in 2021.
While the least three performing states in the course of the yr have been Kebbi, Taraba and Yobe with the worth of N9,146,249,907.83, N10,238,110,125.95, and N10,456,776,796.18, respectively.
Oyo, Lagos and Jigawa states have been the three main states with highest LGA revenue reported in the course of the yr.
“The states recorded N11,832,437,020.33, N11,505,586,283.35, and N8,700,993,591.78, respectively,” the report added.
According to repot, the 2022 IGR had two (2) main revenue sources specifically; (i) Taxes (ii) Ministries, Departments and Agencies (MDAs) revenue.
The report additional indicated that Taxes sub-category recorded on this interval are PAYE, Direct Assessment, Road Taxes, Stamp duties, Capital acquire tax, Withholding taxes, Other taxes and LGAs revenue.
Accordingly, “the 36 States and the FCT generated a total sum of N1,925,612,626,650.76 as IGR in 2022. This grew by 1.57% compared to N1,895,786,762,263.80 in 2021.”
PAYE was essentially the most contributing revenue supply in the course of the yr, and recorded 67.62% share to the overall tax generated revenues nationwide.
While capital positive factors tax was the least within the yr below evaluate with 0.24% share to whole tax revenue,” the report added.
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