The 36 states and the Federal Capital Territory (FCT) generated N1.306 trillion as Internally Generated Revenue (IGR) in 2020, the National Bureau of Statistics (NBS) says.
The figure represents a drop from the N1.33 trillion recorded in 2019, the NBS report, titled “Internally Generated Revenue At State Level”, showed.
Out of the N1.306 trillion generated by the states, Lagos alone posted N418.99bn, which topped what the N385.161bn that all the northern states and Abuja generated in 2020.
The South also accounted for 71% of the IGR generated by all the 36 states and Abuja, while North had 29%.
The NBS said that in compiling the report, states IGR data was computed by the NBS and the Joint Tax Board (JTB) from official records and submissions by the 36 State Boards of Internal Revenue.
The submissions are then validated and authenticated by the JTB which is chaired by the Federal Inland Revenue Service and has the NBS and the 36 State Boards of Internal Revenue as members.
