Lagos, Rivers, Ogun States record highest IGR in 2017- NBS

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The National Bureau of Statistics has released the Internally Generated Revenue report for 2017, stating that states generated a total amount of N931.23bn during the fiscal period.

The NBS in the report said the N931.23bn was an increase of N100bn over the N831.19 recorded in 2016.

The NBS report said that 31 states recorded growth in IGR while five states, namely Akwa Ibom, Anambra, Bauchi, Osun and Taraba recorded a decline at the end of 2017.

An analysis of the report showed that Lagos State recorded the highest revenue of N333.96bn in the 2017 period as against N302.42bn in 2016.

This is followed by Rivers and Ogun states with N89.48bn and N74.83bn in 2017 as against N85.27bn and N72.98bn in the 2016 fiscal period respectively.

Delta followed with IGR of N51.88bn in 2017 as against N44.05bn in 2016 while Kano had N42.41bn in 2017 as against N30.95bn in 2016.

On the other hand, the report stated that Yobe with the total amount of N3.59bn recorded the lowest IGR in 2017 as against N3.24bn in 2016.

This is followed by Bauchi, Kebbi, Ekiti and Borno with N4.36bn, N4.39bn, N4.96bn and N4.98bn in 2017 respectively.

In 2016, Bauchi, Kebbi, Ekiti and Borno states recorded IGR of N8.67bn, N3.13bn, N2.99bn and N2.67bn in that order.

The report read in part, “The full year 2017 states IGR figure hits N931.23bn compared to N831.19bn recorded in the year 2016.

“This indicates a growth of 12.03 per cent year on year.

“At the end of the second half of 2017, total revenue generated by states was put at N432.65bn as against N409.09bn in the first half.”

The NBS report put the net federation account allocation in the 2017 fiscal year at N1.73tn while the total revenue available to the states was put at N2.67tn.

In the area of debt portfolio, the report said the value of foreign debt stood at $19.9bn while domestic debt was N3.35tn at the end of 2017.

At the Federation Account Allocation Committee meeting held last December, state governments had resolved to begin an aggressive drive to shore up their internally generated revenue from 2018.

The move was part of the measures aimed at reducing the overdependence of state governments on the revenue from the federation account.

The Chairman, Forum of Finance Commissioners of the FAAC, Mr. Mahmoud Yunusa, had said that states would be setting up machinery to assist in boosting IGR.

He said, “There are a lot of states that are doing very well in terms of revenue generation and most of the states in the North-East have also started doing very well because there are improvements in commercial activities and taxes are being collected in these areas.”

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