The Lagos State has led the revenue chart with a record-breaking N815.86 billion, which accounts for 34% of the total national IGR, highlighting its substantial economic contributions.
The Federal Capital Territory (FCT) followed with N211.10 billion, while Rivers State secured the third position, generating N195.41 billion in 2023.
In a significant boost to Nigeria’s economy, the 36 states and the Federal Capital Territory (FCT) generated a total of N2.43 trillion in Internally Generated Revenue (IGR) in 2023, marking a 26.03% increase from the N1.93 trillion reported in 2022.
The data, recently released by the National Bureau of Statistics (NBS), highlights a strong rise in local revenue generation across the nation.
At the lower end of the spectrum, Taraba, Yobe, and Kebbi states recorded the least IGR figures, with N10.87 billion, N11.19 billion, and N11.74 billion respectively, indicating the disparity in economic activity and revenue generation capabilities among Nigerian states.
The NBS report also noted that tax revenues constituted approximately 80% of total IGR, with Pay-As-You-Earn (PAYE) tax as the primary contributor, totaling N1.24 trillion and representing 63.83% of the tax income. In contrast, capital gains tax was the lowest contributor, adding N5.91 billion.
As Nigeria continues its push for economic diversification, these figures reveal significant progress in boosting local revenues, although disparities between states highlight the need for targeted fiscal strategies to uplift economically lower-performing regions.
