Nationwide revenue drops to N1.31 trillion 2020

Internally generated revenue from all states and the FCT topped N1.31 trillion in 2020, a drop from the N1.33 trillion generated in 2019, the National Bureau of Statistics says.

NBS made this known on Friday in Abuja in its “Internally Generated Revenue At State Level” for Fourth Quarter and Full Year 2020 published on its website.

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According to the report, it indicates a negative growth of -1.93 per cent year on year.

It added that the Q4 2020 states and FCT IGR figure was N335.25 billion compared to N338.57 billion recorded in Q3 2020. This indicates a negative growth of -0.98 per cent quarter on quarter.

The NBS said that Lagos state recorded the highest IGR of N418.99 billion, closely followed by Rivers with N117.19 billion and the FCT with N92.05 billion.

Delta state recorded N59.732 billion, Kaduna N50.768 billion, Ogun N50.749 billion, Oyo N38.042 billion, Kano N31.819 billion, Akwa Ibom N30.696 billion, Anambra N28.009 billion, Edo N27.184 billion, Ondo N24.848 billion and Enugu N23.650 billion.

Others are Osun N19.668 billion, Kwara N19.604 billion, Plateau N19.122 billion, Zamfara N18.499 billion, Kogi N17.357 billion, Imo N17.081 billion, Cross River N16.183 billion, Abia N14.376 billion, Kebbi N13.778 billion and Ebonyi N13.591 billion.

Meanwhile Yobe recorded the least IGR of N7.779 billion, followed by Taraba N8.114 billion and Adamawa N8.329 billion, Gombe N8.537 billion, Jigawa N8.667 billion, Ekiti N8.716 billion.

Benue state recorded N10.463 billion, Niger N10.524 billion, Katsina N11.399 billion, Borno N11.578 billion, Sokoto N11.796 billion, Bayelsa N12.180 billion, Nasarrawa N12.476 billion, Bauchi N12.502 billion.

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. (NAN)