Lagos, Rivers, FCT Generated Highest IGR In 2022 -NBS

The National Bureau of Statistics (NBS) has published the Internally Generated Revenue (IGR) Report for the 36 States and the FCT for 2022, with Lagos, Rivers, and the FCT leading with N651,145,633,085.30, N172,823,232,535.44, and N124,366,774,519.25, respectively.

NBS said, the 36 States and the FCT generated a total sum of N1,925,612,626,650.76 as IGR in 2022. This grew by 1.57% compared to N1,895,786,762,263.80 in 2021.

The bureau however, said, the least three performing states during the year were Kebbi, Taraba and Yobe with the value of N9,146,249,907.83, N10,238,110,125.95, and N10,456,776,796.18, respectively.

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The report said, PAYE was the most contributing revenue source during the year, recorded 67.62% share to the total tax generated revenues nationwide. While capital gains tax was the least in the year under review with 0.24% share to total tax revenue.

It said, Oyo, Lagos and Jigawa states were the three leading states with highest LGA revenue reported during the year. The states recorded N11,832,437,020.33, N11,505,586,283.35, and N8,700,993,591.78, respectively.

NBS said, the IGR report contains the following key findings;

“The 2022 IGR had two (2) major revenue sources namely; (i) Taxes (ii) Ministries, Departments and Agencies (MDAs) revenue.

“Taxes sub-category recorded in this period are PAYE, Direct Assessment, Road Taxes, Stamp duties, Capital gain tax, Withholding taxes, Other taxes and LGAs revenue”.

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