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States Revenue Fell By N20bn In 2020 -NBS

States Revenue Fell By N20bn In 2020 -NBS

The total amount of Internally Generated Revenue (IGR) of the 36 states in 2020 fell by N20billion or 15 percent.

According to the National Bureau of Statistics (NBS), the states recorded a total of N1.31trillion IGR in 2020 as against N1.33tn as of the end of 2019.

The report on ‘Internally Generated Revenue at the state level for the fourth quarter and full-year 2020’ stated that in Q4 2020, IGR for states and FCT also fell to N335.25bn from N338.57bn recorded in Q3, 2020.

The NBS report showed that Lagos still led the IGR with a figure of N418.99bn.

The report read in part, “The 36 states and FCT IGR figure hits N1.31tn in 2020 compared to N1.33tn recorded in 2019.

“This indicates a negative growth of -1.93 per cent year on year.

“Similarly, the Q4, 2020 states and FCT IGR figure hits N335.25bn compared to N338.57bn recorded in Q3, 2020.

“This indicates a negative growth of -0.98 per cent quarter on quarter.

“Lagos state has the highest Internally Generated Revenue with N418.99bn recorded, closely followed by Rivers with N117.19bn, while Yobe State recorded the least Internally Generated revenue.”

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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