NBS: 36 States, FCT Recorded N849bn Revenue In 1H 2021

The 36 states and the federal capital territory (FCT), according to the National Bureau of Statistics (NBS‘) latest report, recorded N849.12 billion in Internally Generated Revenue (IGR) in the first half of 2021.

The figure represented a 39 per cent increase year-on-year after the coronavirus pandemic impacted revenue generation.

According to the report, IGR was N398.3 billion in Q1 and N450.9 billion in Q2, indicating a positive growth of 13.21 percent quarter-on-quarter

The report also noted that Lagos State has the highest IGR with N267.2 billion, representing 31 percent of the total IGR in the first half of 2021.

Lagos is followed by FCT with N69.1 billion; Rivers state N57.3 billion; Ogun state N54.8 billion; and Delta state N41.9 billion.

Yobe state, on the other hand, generated the least IGR (N4 billion) in the first half-year of 2020, followed by Taraba with N4.77 billion, Gombe with N5.44 billion and Adamawa with N6.09 billion.

IGR by Zones in the first half of 2021 shows that the south-west zone recorded the highest revenue, which amounted to N385.4 billion, followed by the south-south zone with N156.2 billion, while the north-east zone recorded the least internally generated revenue with N42.9 billion.

It also shows that Lagos State generated 69 percent of the entire IGR of the south-west.

This means that Lagos generated IGR of N267.2 billion is more than what the entire northern states generated and more than south-south and south-east put together.

Among the components that make up IGR, PAYE contributed the highest which amounted to N488.1 billion, this was followed by revenue from MDAs which amounted to N173.5 billion. The least category was Road Tax with a contribution of N16.71 billion in the first half of 2021.

Meanwhile, while Lagos is top in terms of the amount of IGR generated in half-year 2021, other states recorded the highest growth recorded in terms of IGR generated between half-year 2020 and half year 2020.

Further analysis showed that Jigawa State recorded the biggest growth in the total IGR in half-year 2021. Specifically, Jigawa generated N3 billion IGR in half-year 2020, while the state’s IGR rose to N9.3 billion in half-year 2021. This implies that Jigawa recorded a 210 percent increase in its total IGR between half-year 2020 and 2021.

Also, Ogun and Ekiti states ranked second and third, respectively, with the biggest growth rate in IGR. Specifically, Ogun generated N23.7 billion IGR in half-year 2020, while the state’s IGR hit N54.8 billion in half-year 2021. This means the state’s IGR rose by 131.5 percent.