States, FCT record N612bn IGR in six months

A total of N612.87 billion was earned by the 36 states of the federation and the Federal Capital Territory as Internally Generated Revenue (IGR) in the first half of 2020, figures from the National Bureau of Statistics (NBS) have shown.

Of the amount, Lagos State recorded the highest Internally Generated Revenue (IGR) of N204.51 billion in the first half of the year.

The NBS in its IGR at the state report said the second state with the next highest IGR was Rivers with N64.59 billion, while Jigawa recorded the least IGR with N3 billion.

The total figures indicated a negative growth of -11.7 per cent year on year when compared with the IGR figure of the 36 states and the FCT for the same period of 2019, which was put at N693.91 billion.

Similarly, the IGR figures of states and the FCT in the second quarter of 2020 was put at N259.73 billion compared to N353.14 billion recorded in the first quarter of 2020.

The report also showed a negative growth of -26.5 per cent quarter on quarter.

The NBS said that the states IGR data were computed in collaboration with the Joint Tax Board from official records and submissions by the 36 state boards of internal revenue.

It stated, “These submissions are then validated and authenticated by the Joint Tax Board which is chaired by the Federal Inland Revenue Service and has the NBS and the 36 state boards of internal revenue as members.”