Sunday, July 25, 2021

Lagos IGR accounts for 32.08 ℅, bigger than IGR of 28 states combined in 2020 — Report

An audited report has shown that Lagos State the commercial nerve center of Nigeria in terms of actual value and due to economic size generated N418.98 billion, the highest amount, across the 36 states in 2020

Lagos State Internal Generated Revenue (IGR) accounted for 32.08 percent of the total IGR and in fact is bigger than the IGR of 28 states combined.

However in terms of growth from the previous year, Lagos state sits 18th with a 5.8 percent IGR growth from N398.73 billion in 2019.

In value terms, Lagos is followed by Rivers with N117.19 billion IGR in 2020; FCT generated N92.06 billion, Delta contributed N59.73 billion IGR while Kaduna generated N50.77 billion.

Rivers, FCT, Delta, and Kaduna in IGR growth ranking are in 27th, 7th, 22nd, and 12th positions.

It was mixed fortunes for other Nigerian states, as 18 states out of 36 including federal capital territory recorded negative IGR in 2020.

This happened as the total amount generated as IGR by states dropped by 1.93 percent to N1.31trn from N1.33trn recorded in 2019.

Benue, Sokoto, and Kwara states recorded the highest drop in IGR by 41.38, 37.93, and 36.03 percent respectively from IGR amount in 2019.

Benue state’s IGR dropped from N17.85billion in 2019 to N10.46 billion last year.

Also, Sokoto’s IGR dropped to N11.79 billion from 19 billion recorded in 2019. While Kwara state’s IGR declined to N19.60 billion from N30.6 billion the previous year.

Other states with a decline in IGR in 2020 include Ekiti, Abia, Akwa Ibom, Delta, Edo, Yobe, Bayelsa, Adamawa, Rivers, Ondo, Niger, Kano, Enugu, Cross River, Ogun, and Jigawa.

On the flip side, Kebbi, Ebonyi, and Oyo recorded the fastest growth in internal generated revenue.

Kebbi outran thirty-five other states in the country with an 87.02 percent growth in IGR last year.

Kebbi IGR grew to N13.7 billion from N7.36 billion the previous year.

For Ebonyi state its IGR grew by 82.30 percent from N7.45 billion to N13.59 billion in 2020.

Oyo state IGR also expanded to 38.04 billion from N26.74 billion in 2019, indicating a growth of 42.23 percent to complete the top three states in IGR growth.

Yobe State recorded the least Internally Generated revenue in 2020 with N7.77 billion generated.

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