The National Bureau of Statistics has disclosed that Lagos, Rivers and FCT leads in the 2022, state internal revenue ranking.
This was contained in a data from the National Bureau of Statistics released on Monday, October 23, 2023.
According to NBS, the total Internally Generated Revenue of states in the country marginally rose to N1.93tn in 2022.
The IGRs of the states shows, Lagos (N651.15bn), Rivers (N172.82bn), FCT (N124.37bn), Ogun (N120.58bn), and Delta (N85.90bn) were the top five states in terms of revenue generated.
While, Kebbi (N9.15bn), Taraba (N10.24bn), Yobe (N10.46bn), Ebonyi (N12.43bn), and Katsina (N13.06bn), were the bottom states.
According to NBS, the 2022 IGR figures for the states had two major revenue sources namely, taxes and Ministries, Departments and Agencies’ revenue.
It noted that the taxes sub-category recorded in the period included Pay As Your Earn, direct assessment, road taxes, stamp duties, capital gain tax, withholding taxes, other taxes and LGAs revenue.
It said, “PAYE was the most contributing revenue source during the year, recorded 67.62 per cent share to the total tax generated revenues nationwide. While capital gains tax was the least in the year under review with 0.24 per cent share to total tax revenue.
“Oyo, Lagos, and Jigawa states were the three leading states with the highest LGA revenue reported during the year. The states recorded N11.83bn, N11.51bn, and N8.70bn respectively.”
