The total value of Internally Generated Revenue (IGR) by the 36 States of the federation and Federal Capital Territory (FCT) declined to N612.87 billion in the first half of the year (H1 2020) compared to N693.91 billion recorded in H1, 2019, according to the National Bureau of Statistics (NBS).
This indicated a decline of 11.7 per cent or N81.04 billion year-on-year.
According to the ‘IGR at State Level for Half Year 2020’ report, which was released by the NBS yesterday, revenues for Q2 2020 also contracted by 26.5 per cent to N259.73 billion compared to N353.14 billion in Q1.
Lagos State had the highest IGR of N204.51 billion or 33.37 per cent of total revenue and closely trailed by Rivers, which recorded N64.59 billion or 10.54 per cent of total revenue while Jigawa posted the least revenue performance of N3.01 billion at half-year.
FCT recorded N35.20 billion or 5.74 per cent of total IGR; Delta, N30.84 billion or 5.03 per cent; Ogun, N23.68 billion or 3.86 per cent; Oyo, N17.77 billion or 2.90 per cent and Kano N17.50 billion or 2.86 per cent.
Others include: Akwa Ibom, N16.21 billion or 2.65 per cent; Kaduna, N14.54 billion or 2.37 per cent; Edo, N14.01 billion or 2.29 per cent; Ondo, N13.58 billion or 2.22 per cent; Enugu, N12.26 billion or two per cent; Anambra, N9.54 billion or 1.56 per cent; Plateau, N9.40 billion or 1.53 per cent; Kwara, N9.36 billion or 1.53 per cent; and Osun, N8.95 billion or 1.46 per cent.
Other states include: Cross River, N8.05 billion or 1.31 per cent; Imo, N7.73 billion or 1.26 per cent; Kogi, N7.43 billion or 1.21 per cent; Zamfara, N7.08 billion or 1.16 per cent; Ebonyi, N6.33 billion or 1.03 per cent; Abia, N6.18 billion or 1.01 per cent and Nasarawa, N5.90 billion or 0.96 per cent and Bauchi, N5.75 billion or 0.94 per cent.
Others are Katsina, N5.53 billion or 0.90 per cent; Bayelsa, N5.38 billion or 0.88 per cent; Borno, N5.37 billion or 0.88 per cent; Benue, N5.34 billion or 0.87 per cent; Sokoto, N4.59 billion or 0.75 per cent; Kebbi, N4.38 billion or 0.72 per cent; and Taraba, N4.06 billion or 0.66 per cent; and Niger, N4.01 billion or 0.66 per cent.
Others include: Yobe, N3.92 billion or 0.64 per cent; Gombe, N3.78 billion or 0.62 per cent; Adamawa, N3.75 billion or 0.61 per cent and Ekiti N3.20 billion or 0.52 per cent.
According to the statistical agency, a total sum of N1.73 trillion was, however, was realised by states in H1 2020 including N1.12 trillion from the Federation Account Allocation Committee (FAAC) and the N612.86 billion IGR.
FAAC contribution to total revenue was 64.66 per cent while IGR accounted for 35.34 per cent in the period.
Furthermore, at half-year, FAAC contribution accounted for N50.03 billion or 19.66 per cent of total revenue accruals for Lagos while IGR represented 80.34 per cent.
For the FCT, revenues from FAAC stood at N33.05 billion or 64.66 per cent of total revenues while IGR represented 35.34 per cent.
Rivers received N75.07 billion from FAAC allocation or 53.76 per cent of its total revenue while IGR accounted for 46.24 per cent.
The 2020 edition of the BudgIT’s annual state of states report titled “Fiscal Sustainability and Epidemic Preparedness Financing at the State Level,” had revealed that with a total debt burden of N5.39 trillion as at the end of December 2019, the 36 states of the federation are no longer eligible to borrow from the capital market.
The report added that the states are no longer qualified to borrow from the capital market as a result of the regulation put in place by Debt Management Office (DMO) to forestall debt crisis on sub-national public borrowings.
Source: THISDAY
