Lagos, Rivers, FCT maintain lead in IGR in 2022 – NBS

By Okeoghene Akubuike

The National Bureau of Statistics (NBS) has said Lagos, Rivers, and the Federal Capital Territory, FCT still lead the other states in terms of internally generated revenue, IGR in 2022, just like they did in 2021.

According to the NBS report on Internally Generated Revenue At the State Level for 2022, Lagos, Rivers and FCT generated ₦651,145,633,085.30, ₦172,823,232,535.44, and ₦124,366,774,519.25, respectively in 2022 to maintain the top position among the Nigerian State.

Conversely, the least three performing states in terms of IGR in 2022, according to the NBS report were Kebbi, Taraba, and Yobe.

The three states generated ₦9,146,249,907.83, ₦10,238,110,125.95, and ₦10,456,776,796.18, respectively for the year.

NBS added in the report that the 36 states and the FCT recorded a 1.6 per cent year-on-year growth in IGR to N1.92 trillion in 2022 from N1.89 trillion in 2021.

NBS noted that the 2022 IGR had two major revenue sources namely; taxes and Ministries, Departments and Agencies’ (MDAs’) revenue.

The bureau said the taxes sub-categoriesries recorded in the period are Pay As You Earn (PAYE), Direct Assessment, Road Taxes, Stamp duties, Capital gain tax, Withholding taxes, Other taxes and LGAs revenue.

According to the report, PAYE was the most contributing revenue source in 2022 with a 67.62 per cent share of the total tax-generated revenues nationwide.

The bureau said capital gains tax generated the least in 2022 with a 0.24 per cent share to total tax revenue.

The report said Oyo, Lagos, and Jigawa states led with the highest LGA revenue reported during the year.

“The states recorded ₦11,832,437,020.33, ₦11,505,586,283.35, and ₦8,700,993,591.78, respectively,” the NBS said.

(NAN)