States IGRs rise to N579.5bn in 6 months

The internally generated revenues (IGRs) of states rose to N579.49 billion in the first half of 2018, up from N453.83 billion recorded in the first half of 2017.

The IGRs at state level for Half Year 2018 published, yesterday, by the National Bureau of Statistics (NBS) showed a growth of 27.7 per cent.

Analysis of the report showed that 28 states recorded growth in IGR while eight – Abia, Anambra, Benue, Taraba, Kebbi, Kwara, Ebonyi and Enugu – recorded a decline at the end of 2018 Half Year.

The report showed that the net FAAC allocation in half year 2018 is put at N1.23 trillion while the total revenue available to the states is put at N1.74 trillion.

However, the value of foreign debt stands at $4.22 billion while domestic debt hit N3.38 trillion at the end of 2018 half year respectively.