States, FCT IGR Dropped To N1.3trn In 2020
The revenue generated by the 36 states of the federation and the FCT amounted to N1.3trn in 2020 fiscal year, representing a decrease from the N1.33tn recorded in 2019.
According to the National Bureau of Statistics data, Lagos State had the highest revenue of N418.98bn, representing 32 per cent of the overall revenue for the year, followed by Rivers and FCT, with N117.189bn and N92.05bn respectively.
States with the least revenue were Yobe, Taraba and Adamawa with N7.77bn, N8.11bn and N8.32bn respectively.
The report also showed a decline in states IGR for the fourth quarter 2020, as it dropped from N338.57bn in Q3 to N335.25bn in Q4.
It reads, “The 36 states and FCT IGR figure hits N1.31tn in 2020 compared to N1.33tn recorded in 2019.
“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.”