The Internally Generated Revenue (IGR) of the 36 states and the Federal Capital Territory (FCT) rose to N986.29 billion by the end of the third quarter, up from the N692.49 billion recorded at the end of the first six months of the year, the National Bureau of Statistics (NBS) has reported.
A breakdown of the IGR showed that the states and the FCT generated N170.41 billion from PAYE, N12.67 billion from Direct Assessment, N8.37 billion from Road Taxes, N52.88 billion from other taxes and , N49.46 billion from the revenues of Ministries, Departments and Agencies (MDAs). These figures indicated that the states’ IGR grew by N294.8 billion. But then, growth analysis by percentage change showed a negative growth of 25.12% quarter-on-quarter Specifically, the report reflected that in the third quarter, 2019 states and FCT IGR figures stood at N293.80 billion compared to N392.38 billion recorded in the second quarter of the year.
The IGR report further showed that Lagos State topped the revenue chart as usual, raking in N297.09 billion or 30% of the total IGR accruals during the period. Lagos State was followed by Rivers State with N107.03 billion generated during the period under review. Other top revenue generating states included FCT with N55.72 billion, Ogun with N52.86 billion, Delta with N49.51 billion, Kaduna with N28.15 billion, Akwa Ibom with N26.62 billion and Kano with N25.81 billion. Yobe State recorded the least IGR totalling N3.34 billion, being 15.36% higher than the N988.59 million generated within the second quarter of 2019.
Analysis showed that quarter-on-quarter, Kano and FCT’s IGRs slumped by 34.76% and 0.84% respectively while the IGRs of Ogun and Yobe soared by 52.33% and 15.36% respectively in the third quarter of 2019. The report showed that seven states recorded growth in IGR while 30 states and the FCT recorded decline in IGR at the end of third quarter of 2019.
