The National Bureau of Statistics (NBS) has published its latest data on Internally Generated Revenue (IGR) for the 36 states and the Federal Capital Territory (FCT), revealing a remarkable performance.Â
In 2023, IGR totaled N2.43 trillion, up 26.03 percent from N1.93 trillion in 2022. This increase highlights the resilience of certain states in revenue generation amid economic challenges.
Lagos State led all others with an impressive N815.86 billion in IGR, contributing 34 percent of the entire collection across the states. The FCT and Rivers State followed, generating N211.10 billion and N195.41 billion, respectively, indicating a significant revenue gap between the top three and other states.
On the other end of the spectrum, states like Taraba, Yobe, and Kebbi reported the lowest revenues, with incomes of N10.87 billion, N11.19 billion, and N11.74 billion, respectively. This disparity underscores the regional economic differences across Nigeria, which remain challenging for equitable revenue distribution.
In terms of revenue composition, tax remains a dominant contributor to IGR. According to NBS, approximately 80 percent of the total IGR was derived from various forms of taxes. Personal Income Tax (PAYE) emerged as the highest source, with a collection of N1.24 trillion, making up 63.83 percent of all taxes. Capital gains tax, however, was the least significant, contributing just N5.91 billion.
This data emphasizes the importance of strengthening state-level fiscal policies to promote balanced economic growth across Nigeria.