The 36 states and the FCT collectively generated N2.43 trillion in Internally Generated Revenue (IGR) in 2023, according to the National Bureau of Statistics (NBS) IGR report for 2023.
The latest NBS report released on Monday stated the IGR recorded in 2023, is higher by 26.5 per cent to the ₦1.92tn IGR recorded in 2022.
According to the report, IGR is from two major categories of revenues namely taxes and Ministries, Departments and Agencies (MDAs) revenue.
The report also highlighted that Pay-As-You-Earn (PAYE) contributed the most to tax revenue, amounting to N1.24 trillion, or 63.83% of the total taxes collected.
Capital gains tax, however, accounted for the least, generating N5.91 billion. Nationally, total taxes made up about 80% of the overall IGR.
Lagos, FCT, and Rivers led in IGR collection, generating N815.86 billion, N211.10 billion, and N195.41 billion, respectively, during the period. In contrast, Taraba, Yobe, and Kebbi states reported the lowest revenues, with N10.87 billion, N11.19 billion, and N11.74 billion, respectively.
The report stated that the south-west zone recorded the highest revenue in 2023, totalling ₦1.1tn with Lagos state generating 73 per cent of the entire IGR of the zone.; followed by the south-south zone with ₦468.7bn.
The total revenue recorded from the south-east zone is ₦142.9bn, the north-west recorded ₦206.2bn, and the north-central generated ₦387.6bn.
The north-east zone recorded the least IGR with ₦104.3bn.
The ten states with the highest IGR in 2023 collectively generated N1.775 trillion in IGR during the period. This represents around 73.1% of the total IGR generated by the 36 states and FCT in 2023.
Tribune Online top ten (10) states with the highest IGR in 2023:
1. Lagos: Lagos generated a whopping N815.86 billion comprising of N704.90 billion in taxes while its MDAs collected N110.96 billion. Lagos state was able to grow its IGR by 25% from N615.14 billion to the current figure.
2. FCT: The nation’s capital in 2023 increased its revenue by nearly 70% (69.7%) from N124.36 billion to N211.10 billion. The FCT does not generate revenues from MDAs.
3. Rivers: this Niger Delta state recorded up to N195.41 billion comprised of N186.96 billion in taxes and N8.447 billion from MDAs. In the year prior, Rivers State generated N172.82 billion marking an increase of N22.59 billion
4. Ogun: Another Southwestern state generated N146.87 billion made up of N71.67 billion in tax revenues and N75.19 billion. Like most of its peers, Ogun state increased her IGR in 2023 from N120.58 billion.
5. Delta: this oil-rich state generated N90.91 billion and N23.17 billion from taxes and MDAs respectively totalling N114.08 billion. When compared to the previous year 2022, there was a 32.8% increase in IGR during the period from N85.9 billion.
6. Edo: Edo state recorded N64.67 billion as IGR in 2023 made up of N46.17 billion in total taxes and N18.5 billion as MDAs. The state increased its IGR between 2022 and 2023 from N47.45 billion to the current level.
7. Kaduna: IGR figures in 2023 reached N62.49 billion- representing an increase of just over N4 billion from the N58.09 billion generated in 2022.
8. Kwara: Kwara collected N59.64 billion as IGR in the year under review. This figure comprises N23.12 billion in taxes and N36.51 billion in MDA revenues. In 2023, Kwara state saw a 66.8% increase in her IGR collection surging from N35.75 billion in 2022 to the current figure.
9. Oyo: this Southwestern state generated N52.74 billion in IGR in 2023 comprising 40.52 billion in taxes and N12.12 billion in revenues from MDAs. The state’s IGR in 2023 declined by almost N10 billion from N62.24 billion in 2022 to the current figure. The state’s IGR in 2021 stood at N52.08 billion.
10. Akwa Ibom: In 2023, this state collected N43.18 billion as total IGR comprising N36.07 billion in total taxes and N7.11 billion as revenues from MDAs. It also stated that between 2022 and 2023, Akwa Ibom State increased its revenues by 24% from N34.81 billion to the current figure.
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