“24 States Generate N2.52 Trillion Revenue in 5 Years” – NBS Data
An analysis of the Internally Generated Revenue (IGR) of 24 states, has shown that the states generated a total of N2.52 trillion in five years, reports BizWatch Nigeria.
According to the report, details of IGR spanning 2010 to 2014 obtained from the National Bureau of Statistics (NBS) revealed that in 2010, the 24 states generated N340.75 billion and this amount leaped to N413.87 billion in 2011.
BizWatchNigeria reported that,throughout the five years under review, IGR soared in 2013 at N692.60 billion from N475.89 billion generated in 2012.
The IGRs of Abia, Borno, Cross River, Ebonyi, Edo, Gombe, Jigawa, Kano, Kwara, Ondo, Taraba and Yobe states were not included in this analysis due to incomplete documentation of their revenues submitted to the NBS.
The upward trend observed from 2010 to 2013 suffered a setback in 2014 as IGR of the states dropped to N592.79 billion from the N692.60 billion generated the previous year.
Throughout the period, Lagos State alone generated N1.23 trillion, an amount which was almost equal to the total IGRs of the 23 other states.
The 23 other states included Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Delta, Ekiti, Enugu, Imo and Kaduna.
The 23 states, which generated N1.29 trillion over five years, also included Katsina, Kebbi, Kogi, Lagos, Nasarawa, Niger, Ogun, Osun, Oyo, Plateau, Rivers, Sokoto and Zamfara States.
Closely following Lagos in terms of highest amount of revenue generated over the five-year period were Rivers, Delta and Akwa Ibom with N345.64 billion, N199.51 billion and N66.41 billion respectively.
In Northern Nigeria, Kaduna had the highest IGR generated over the period in the region at N56.58 billion. With the exclusion of Kano and Jigawa States in this analysis, the entire states in the Northwest generated N139.42 billion. The North-central generated N133.46 billion over the same period with the exclusion of Kwara.
Adamawa and Bauchi, which were the only two states in the Northeast with complete report of their IGRs within the period, generated a total of N43.84 billion. The Southwest topped the regions over the period in IGR with the total of N1.41 trillion with the exclusion of Ondo State.
The Southeast generated N88.27 billion with the exclusion of Abia and Ebonyi states while the South-South generated N646.35 billion with the exclusion of Edo and Cross Rivers states.